Crypto Casinos on the Rise Amongst Bitcoin Crash
Written by Phoebe
Published date · June 13, 2022 | Last Updated · Dec. 14, 2022 | Read Time: 1 mins
Specialised crypto-casinos are on the rise, and the decentralised payment system has a number of advantages for both the operator and the player, including increased security, and transaction speed amongst other things. At the same time, Bitcoin (BTC) has dropped below $25,000 in the last 24 hours, a decline of more than 10%. The price of the cryptocurrency has plummeted to levels not seen since late 2020, a drop of more than 60% since its all-time high in November 2021. Ethereum (ETH) and Dogecoin (DOGE), which both fell by around 17 per cent, suffered even bigger losses than Bitcoin.
Celsius Network, a cryptocurrency lending platform, has put a halt to all “withdrawals, and swaps and has temporarily stopped operating. The crisis is part of a larger pattern in which the crypto market has been losing money. In approximately the span of a week, the market has lost over $400 billion, bringing the total value of the market below $1 trillion. These market turbulences coincide with a significant increase in crypto gaming. Users may now deposit and play online games using digital currency at an expanding number of online casinos and betting sites. What does this all mean for Crypto Casinos? It’s too early to tell right now, as it is still developing news, but we will keep you posted