Cryptocurrency-based sports betting site Rollbit achieved a new revenue record on January 28th, generating over $1.5 million in bets placed on its platform within a 24 hour period. This shatters the previous single-day revenue record for Rollbit’s sportsbook product.
Co-founder Lucky announced the achievement on X (Twitte)r, stating: “We’ve broken a new record for our sportsbook over the last 24h, generating over $1.5MM in revenue and burning 0.1% of the RLB supply…in a single day! I’m optimistic we’ll be able to maintain this accelerated growth.”
The massive betting volume demonstrates continued strong demand for Rollbit’s sports gambling offerings. It also highlights the platform’s momentum coming off a very successful 2023, which saw the RLB token price rise over 5,000% to an all-time high of $0.24 in November.
While RLB price had pulled back in recent weeks to the $0.11 level in January, it reacted positively to the latest growth news, jumping to $0.13 at press time. This perhaps signals investors see substantial long-term upside still in store.
Technically, RSI levels across all timeframes sit in the 50-55 range for RLB. For the uninitiated, RSI or Relative Strength Index measures the momentum and velocity of price changes. A reading of 50 indicates neutral momentum, while figures approaching 70 often signal overbought conditions and figures approaching 30 signal oversold conditions.
So with RSI hovering in the current range, this implies RLB still likely has more room to run before hitting overheated levels from a technical perspective. Traders may view dips as buying opportunities given the positive on-platform usage metrics.
As Lucky stated, if Rollbit can maintain this growth pace for its sportsbook, it could provide a significant tailwind for the RLB token moving forward due to the platform’s unique token burn model based on fees generated. The community is keeping an eager eye out to see if new records continue getting shattered in short order.
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