In a recent tweet by Lucky Rollbit, the co-founder of Rollbit, the crypto casino and trading platform celebrated a momentous achievement – the number of on-chain RLB hodlers surpassed 10,000. This milestone comes on the heels of an exceptional month for Rollbit, marked by a surge in revenue throughout September.
Rollbit’s coffers swelled with a staggering $38 million in revenues last month. This impressive figure was generated across three key revenue streams, setting the stage for a significant development – the buy and burn of over $5 million worth of RLB tokens. This amounts to approximately 1.265% of the circulating supply, a strategic move that reflects Rollbit’s commitment to its “buy and burn” program.
Token Price Surge
The impact of Rollbit’s success was felt not only within the platform but also in the broader crypto market. Token prices experienced a remarkable uptick, soaring by as much as 8% before settling down. This surge contributed to a substantial 38.7% increase in weekly gains, as evidenced by market data. RLB is trading at $0.142666 with a 5% surge in the last 24 hours.
The soaring revenues of Rollbit seem to be closely tied to its growing user base, with just under 20,000 token holders identified on the platform. The past 24 hours alone have seen impressive figures, with $851,000 in casino revenues, $338,000 in futures revenue, and $141,000 in sports betting.
Rollbit’s success is further attributed to its diverse array of offerings. Users are drawn to the platform not only for its ability to trade tokens with 1000x leverage but also for its sports betting, arcade games, and tokenized jackpot. Remarkably, even in a bear market, crypto games and similar attractions have proven resilient, continually attracting users to Rollbit.
Earlier this year, Rollbit unveiled its forward-thinking strategy: allocating 30% of all fees generated from crypto futures, 20% from sports betting, and 10% from casino games to purchase RLB tokens on the open market for the purpose of burning them. This approach demonstrates Rollbit’s dedication to the long-term sustainability and value of its native token.
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