The crypto market has been rather bearish in the last month, and this can be seen in the growing outflows from Bitcoin ETFs. Statistics show ETF investors have sold large amounts of their holdings recently, worth more than $500 million. Also, Solana, which has been in a free fall, has made investors opt for Rollblock. Experts in the market are expecting a major rise in the price of the DeFi crypto very soon.
US-based ETFs recorded a net outflow of approximately $500 million as the leading crypto plunged. The large outflows came at a time when the price of Bitcoin dropped to five-week lows. Many were hoping that recovery would happen as the best cryptocurrency dropped to the $65k support level. Regrettably, this did not occur.
Bears forced Bitcoin to retreat back to the $62.7k price level. Stating on Twitter, CryptoTony expressed positivity towards the crypto king, provided that it continues to trade above the $50k resistance level. He believes that within the next couple of weeks, Bitcoin will go up to $80k.
One of the top altcoins in the crypto market, Solana (SOL), remains under the control of bears despite many attempts by bulls to break free. Data from CoinMarketCap shows that the token’s woes started in May when it met with resistance around the $180 price region.
Presently, Solana is bleeding on the weekly, bi-weekly, and monthly timeframes. CryptoTony believes the price of Solana must drop to $121 before it can begin an upward movement to higher levels. This level has acted as a major support in the past. If this level holds, the value of Solana could rise to $150 in the coming weeks.
Rollblock (RBLK) has shown its potential as a top competitor in the past few weeks. Its bullish performance has made experts dub it the “Solana Killer.” In the past month, the price of Rollblock has increased by 40% and is set to increase again in the next 24 hours. It has raised $830k in rapid quick time and seen over 3,000 users register, signaling huge demand for the new altcoin. As if that was not enough, the project is enjoying massive attention from football lovers due to its $20k Euro24 giveaway. Participants can take part in a new giveaway each day by joining their discord community.
Rollblock is a pioneering GambleFi protocol that aims to change the way people approach online gambling. Rollblock addresses most of the challenges of conventional online gambling by employing blockchain technology. There is no KYC process when signing up to their platform, and more than 20 cryptocurrencies are accepted by the site where you can currently bet on over 150 games. Rollblock is also set to introduce sports betting in the coming months, allowing users to place bets across hundreds of markets in the biggest sports worldwide. This will open another incredibly profitable arm to their GambleFi protocol, something that is great for RBLK holders.
Rollblock offers a unique revenue share model for its RBLK token holders, something setting it apart from the competition. Rollblock will use up to 30% of its weekly revenue to buy back RBLK tokens from the open market, 50% of those tokens are then burned, reducing the overall and circulating supply while the other 50% is used for staking rewards for RBLK stakers. This means Rollblock can also offer their holders some of the best passive income opportunities on the market.
The Rollblock Casino is already live and fully operational, with hundreds of users playing daily. This means it is already generating revenue despite still being in its presale, this could mean significant buy backs once the token has launched on exchanges, making it one of the best cryptocurrencies to buy now. Rollblock is trading at $0.014 per RBLK token in the third presale but many analysts see the coin trading at over $1 before the year ends, making RBLK one of few tokens with 100x potential.
The outflow of funds from Bitcoin ETFs could cause the leading crypto to drop further. Also, Solana is still trading in the red region, but CryptoTony is optimistic that a trend reversal could happen if it bounces off the $120 support. In the meantime, investors are jumping to the new DeFi crypto, Rollblock. Analysts predict the price of the cryptocurrency could increase by 100x in the next few months before 2025.
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