Crypto fear and greed falls to 34 as Chancer raises $1.65M

The crypto worry and greed index moved to the worry zone of 34 this week as Bitcoin and different cryptocurrencies plunged. Bitcoin moved under $26,000 because it skilled its worst week of the 12 months. Different cryptocurrencies like Ethereum, Cardano, and Oasis Community additionally slipped, bringing the whole market cap to $1.02 trillion.

Concern and greed index slipped

The worry and greed index is likely one of the most distinguished sentiment gauges within the monetary market. The preliminary index was created by CNN Cash to offer sentiment within the inventory and bond market. It appears at essential gauges just like the CBOE VIX index, put and name choices, and inventory value breadth amongst others.

The crypto worry and greed index, however, appears at a number of essential measures within the trade. A number of the most essential issues it appears at are social media exercise, volatility, momentum, and dominance.

In most durations, the crypto worry and greed index often rises when Bitcoin and different cryptocurrencies are rising. It then retreats sharply when Bitcoin and Co are falling. For instance, the index remained on the impartial stage of fifty when BTC remained on the consolidation part of $29,000.

Some analysts imagine that cryptocurrencies will bounce again within the coming weeks. They cite the very fact most massive Bitcoin holders, popularly generally known as whales, have continued holding their positions and haven’t offered in the course of the current sell-off. 

In a Twitter publish, the top of Pantera Capital argued that Bitcoin has stayed in depressed ranges for thus lengthy. He now expects that BTC will soar to $35,000 within the close to time period after which surge to $150k by the subsequent halving occasion.

#Bitcoin not too long ago skilled the longest interval of unfavorable year-over-year returns in its historical past, lasting 15 months.

The longest interval prior was just below a 12 months.

Our view is that we’ve seen sufficient – there’s simply so lengthy markets will be down.

Extra: https://t.co/REfxkTp9CJ pic.twitter.com/UCEMMcznAM

— Dan Morehead (@dan_pantera) August 23, 2023

Chancer token sale good points steam

One other signal that there’s curiosity in cryptocurrencies is the rising demand for token gross sales. Chancer, is a brand new firm looking for to disrupt the fast-growing and extremely well-liked industries. The corporate has raised over $1.65 million from traders prior to now few weeks. You should buy the Chancer token here.

Chancer is aiming to turn out to be the most important participant within the sports activities betting and prediction trade. This can be a massive trade that was estimated value over $91 billion in 2023. In a report, FMI estimated that the trade may have a compounded annual progress charge (CAGR) of 10% by 2030 to over $245 billion.

As we speak, the sports activities betting trade is dominated by extremely centralized firms like FanDuel, DraftKings, BetMGM, and Caesars. Internationally, among the best-known manufacturers are firms like Bwin, Bet365, and William Hill amongst others.

Whereas these firms work effectively, there may be all the time room for disruption, particularly utilizing the blockchain know-how. That is the hole that Chancer is aiming to fill utilizing blockchain know-how.

As a substitute of customers being simply clients, they’ll personal the ecosystem because the community will use a decentralized autonomous group (DAO) mannequin. To attain this, Chancer will probably be powered by the $CHANCER token. Holders may have essential privileges like making choices within the ecosystem.

Additional, $CHANCER holders may have an opportunity to earn money by creating markets and livestreaming them. Some analysts imagine that the community may very well be a recreation changer if it really works. You’ll be able to learn the Chancer white paper here.