The cryptocurrency market has been relatively stagnant in recent weeks, but this does not seem to apply to some altcoins. Rollbit (RLB), in particular, stands out as it is not following the horizontal trend.
The Rise of Rollbit
There are many reasons and criticisms behind the movement of Rollbit. Collaborating with prominent figures in the cryptocurrency sector, Rollbit has been heavily advertising its platform. By paying high fees to Twitter influencers, Rollbit has quickly gained recognition.
Rollbit’s native cryptocurrency, RLB, has experienced a rapid increase of 130%. Currently priced at $0.17, RLB has seen a 70% increase within 24 hours. This movement, which is a continuation of previous surges, has undoubtedly caught the attention of investors.
Interestingly, RLB achieved a growth rate of 7,000% last year. In addition to its usage on the Rollbit platform, Rollbit Coin also supports a GameFi-focused initiative. With Rollbit Coin, users have the opportunity to participate in various gaming activities, as well as engage in sports and NFTs.
Another factor that contributed to RLB’s recent surge could be its transition to the Ethereum blockchain network. Previously, the project was on the Solana network, but a strategic decision was made to switch due to increased demand for usage on different networks.
New Announcement for RLB
A recent development may contribute to the long-term sustainability of RLB. Rollbit announced moments ago that it will buy and burn RLB daily, as its daily revenue has exceeded $2 million. Although the exact amount of RLB to be burned has not been disclosed, this is undoubtedly a development that will contribute to future price stability.
Critics of RLB focus on the platform’s exploitation of inexperienced investors for profit.
