- Chancer’s presales have surpassed $2.1 million, raising over $400,000 in less than a week.
- Meanwhile, the crypto market remains mixed following the reaction to the Fed’s rate hike decision.
While crypto was largely the mirror image of stocks amid a broader market decline following the Federal Reserve’s recent monetary policy decision, Chancer (CHANCER) appeared to be poised for a remarkable performance. Just days after releasing the first update for the highly anticipated project, Chancer’s presales have surpassed $2.1 million.
Given the growing interest in cryptocurrencies and predictions for the global sports betting industry, is Chancer the platform for long-term cryptocurrency betting?
Crypto mirrors stocks as markets decline following Fed decision
Bitcoin slipped below $27,000 again on Thursday, trading at lows of $26,770 at the time of writing, while cryptocurrencies lost nearly 1% of total market capitalization to about $1.09 trillion. Bitcoin initially fell 1.3% to trade at $26,749, while Ethereum lost 1% to hit lows of $1,600.
US stocks closed lower on Wednesday after the Fed signaled a higher and longer-term path in its interest rate decision. Sentiment across the market was largely gloomy as investors also awaited the Bank of England’s monetary policy decision.
Commenting on the stock market’s reaction, Mohamed A. El-Erian, president of Queen’s College, Cambridge and an advisor at Allianz, said:
“The Federal Reserve did not raise its interest rates, but markets did raise their rates in response to what they heard at the Fed press conference: U.S. Treasury yields rose across the board this afternoon, with two-year bonds have reached the highest level since 2006.” and the 30th anniversary since 2011.”
Despite the declines, investors are confident that the next bull cycle is on the way. Some analysts believe that investors may view altcoins as a good opportunity in advance. There is also a lot of interest being seen in new projects that are believed to have the strongest product offerings – the crypto sports betting and GameFi space is one of the hottest at the moment.
What is Chancer?
Chancer is a blockchain-based project that aims to offer the world’s first decentralized social betting platform. Unlike traditional betting platforms, Chancer allows users to create their own bets or participate in a peer-to-peer (P2P) marketplace. Essentially, it’s a new prediction market platform that removes the centralization of old bookmakers – nothing like “House” at Chancer.
The platform is powered by CHANCER, a utility token that provides access to passive income opportunities such as staking.
Pre-sale odds are $2.1 million
On September 12, Chancer announced an update to its product development, citing its roadmap and white paper highlighting progress on key milestones.
As Paul Kelbie, head of product at Chancer, noted in a statement, there is great progress in expanding betting mechanisms, leaderboards and social sharing. According to him, most of the “ground work” is done and Chancer is ready for the second phase of its product development before the beta launch.
The update is sending the community into a frenzy and this is reflected in the CHANCER presale – investors have purchased over $400,000 worth of the native token in just over a week. Of the $1.7 million raised on September 12th, the presales page shows over $2.1 million. This brings Chancer closer to its targeted $3 million raise, funds that will help bring the blockchain-based betting platform to market.
Interested crypto enthusiasts and sports betting lovers can learn how to buy Chancer here.
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