Over the past few months, Rollbit’s monthly revenues have consistently increased.
The native coin of Rollbit network, RLB, has seen a 6% increase in its prices in 24 hours to $0.1368 at 6.42 am ET on CoinMarketCap. RLB’s 24-hour trading volume shot up 112.68% to $5,674,110, while its market cap stood at $451,245,254, placing it at the 218th position among top crypto coins.
The 24-hour all-time high and low were $0.1266 and $0.1457, respectively. However, the current peak is still 47.85% lower than the all-time high of $0.263 on November 11, 2023. In contrast, today’s low is a massive 14215.71% higher than the all-time low of $0.0009583 recorded on July 9, 2022.
On a 7-day term, RLB is 11.20% up, while on a one-month basis, the price has increased by 7.08%. The 7-day all-time low was recorded on February 13 when the price slid to $0.1081. This was also the 1-month all-time low.
What Drives RLB’s Price Momentum
What explains RLB’s uptick over the last seven days is the consistency with which the broader cryptocurrency market has moved up. Over the last seven days, BTC, for example, has gained 9.32% and ETH 17.22%.
Besides riding the current bounce in the market, RLB has gained momentum due to the Rollbit network’s impressive performance over the past few months.
The Curacao licensed crypto casino platform reported a monthly revenue of $65 million in January 2024, $58 million in December 2023, $56 million in November 2023, $41.7 million in October 2023, and $38 million in September 2023. It means that in five months from September 2023 to January 2024, Rollbit’s revenue increased 71%.
At the end of November 2023, Rollbit’s year-to-date revenue was $355 million, making it the third-largest in revenue generation among all crypto protocols and platforms. The two crypto platforms ahead of Rollbit are Uniswap (UNI) and Lido (LDO), with $543 million and $529 million in annualized fee revenue, respectively.
Another critical factor that makes RLB competitive is its buy-and-burn program, where a certain percentage of the revenue is used to buy and burn RLB coins. Thanks to this deflationary strategy, at the end of the 27th week on February 14, RLB’s 41.54% of the initial circulating supply was permanently removed. This, too, has strengthened RLB prices over the period.
