FunFair – a gambler’s delight or a cryptocurrency project destined to fail?

The market over the season has put many tokens into the red. Digital currencies are struggling and any news of a positive incline is news-worthy. The FunFair cryptocurrency has been a coin which has bandied between high ups and low downs recently

As a brief description of the project – the FUN tokens act as the cryptocurrency for FunFair.

The FunFair platform holds a decentralized gaming technology network, based on the Ethereum blockchain. It uses smart contracts and Fate Channels to offer users casino solutions with games that are fun, fast and fair. Owing to its nature, and it stands as one of the first gambling-focused cryptocurrencies

In this, we take a look at how the coin has fared over the year.

FunFair in the market

At the start of the year, FunFair entered proceedings as the 52nd most valuable cryptocurrency by market cap on January 7th, and was trading at $0.179398 USD. At the time, the cryptocurrency was holding a total market cap of $762,417,015 USD.

Looking at the current state, the market has been unkind to the altcoin. Now FunFair is the 86th most valuable cryptocurrency. It trades for $0.015089 USD and bears a total market cap of $78,156,351 USD.

Transaction volume

At its height on the 5th of January, the FunFair cryptocurrency network saw $137,790000 USD worth of FUN transacted daily.

The network’s lowest point saw only $592,079 USD worth transacted on the 8th of April, while the network’s next high point saw $35,818,000 USD worth of FUN tokens shift hands on the 7th of May.

Into the future

Well, considering how the adult entertainment industry in blockchain has taken off, FunFair stands a chance to offer itself as a niche among the common. However, if we look at how the gaming platforms are doing on Ethereum’s platform, the numbers are not flattering. With a measly average of 435 daily users on the world’s most popular decentralized app (dApp) game, it’s not looking good for the concept of blockchain games at the moment.

However, if FunFair can target itself to those who would invest in gambling (and the irony is not lacking), and if the market can realign itself, then the cryptocurrency stands a chance yet.

Related Articles

The top three privacy-focused cryptocurrencies

Privacy cryptocurrencies are designed to offer the greatest anonymity and security possible with untraceable transactions.

Anchorage announces layoffs amidst regulatory uncertainty

Another cryptocurrency firm has announced that it will be reducing its workforce to better focus resources.

What are crypto firms going to do with banking options?

With leading banks that service crypto closing down, what other options do crypto firms have for finances? In this, we explore.

The crypto-friendly Signature Bank slapped by lawsuit

The cryptocurrency-friendly Signature Bank and its former executives are being sued by shareholders for alleged fraud and misleading claims.

See All