Cryptocurrencies and stocks had a mixed performance this week as the corporate earnings season continued. The tech-heavy Nasdaq 100 index dropped after the relatively weak guidance by companies like Netflix and Nvidia. At the same time, the value-focused Dow Jones index rose after strong bank earnings.
Bitcoin, on the other hand, remained under intense pressure as the crypto fear and greed index remained at 52. It moved slightly below the important support at $30k, signaling that bears are overwhelming the bulls. Ethereum dropped to $1,800 while coins like Tron and Chainlink surged during the week.
Chancer token sale nears target
An important market event is that Chancer continued its token sale during the week. The developers have sold over 9.3 million tokens valued at over $927k. Their goal is to get to 12.6 million tokens in the first phase of the sale.
Chancer’s token sale gained steam after the developers introduced new options for buying the tokens. They introduced additional cryptocurrencies like Ethereum, Tether, Binance Coin, and Binance USD.
For starters, Chancer is a platform that is seeing to introduce a new way for people to bet across various events like sports, political campaigns, and economic data among others. In addition to these products, people will be able to create their own markets and live stream to the entire ecosystem.
Chancer will be significantly different from existing betting and prediction marketplaces like Fanduel and BetMGM. For one, in the future, the network will be highly decentralized, with all token holders having a chance to make crucial decisions in the platform. For example, they will decide on new features and pricing. Also, they will also share profits that the company makes. You can buy the Chancer token here.
Chancer prediction: What is the future of Chancer?
Chancer is a highly ambitious project that is aiming to disrupt an established industry that has unlimited resources. For example, the five biggest companies in the US and UK have a market cap of over $100 billion. These companies can spend billions of dollars in marketing and development.
This explains why Chancer is focused on raising capital through a token sale. These resources will help it to build the platform and market it to key markets around the world.
Chancer has some important features that will help it compete with the incumbents. For one, it will be a decentralized platform that will give token holders more saying about how it is run. In addition to placing bets in the platform, Chancer will let people create their markets and make money when users place the bets.
Chancer will be a highly transparent platform with more features like mobile applications, and blockchain technology integration.
Is Chancer a good investment?
Chancer is holding its token sale at an important time. Inflation has dropped, which will likely see the Fed end its tightening. At the same time, it comes at a time when demand for cryptocurrencies is still high as evidenced by the performance of Pepe and other new meme coins.
Therefore, there is a likelihood that Chancer’s token will do well when the developers list it in decentralised and centralised exchanges like Uniswap, PancakeSwap, and Binance. In most periods, new tokens tend to do well shortly after listing.
They then perform well after the developers make several announcements. In this case, Chancer will likely rise ahead of the mainnet launch and as the developers unveil several partnerships.
Still, it is always risky to invest in presale tokens. As a result, you need to use proper risk management strategies when buying the token. For example, you should only allocate a small portion of your funds to these tokens.