The Rollbit Coin (RLB) has emerged as one of the best-performing crypto assets owing to a new update that sent its price rallying by more than 50% over the past day. The announcement of revenue sharing via a buy-back and burn model proved to be a major catalyst.
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- RLB surged to nearly $0.18 due to the bullish impetus pushing its weekly gains close to 110%. The latest price action can be attributed to the platform’s move to buy and burn its RLB tokens on a daily basis.
- This propelled Rollbit’s revenue to exceed $2 million in less than 24 hours across its diverse offerings.
- Announcing RLB’s revamped tokenomics, Rollbit’s pseudonymous co-founder Lucky had previously tweeted that 30% of all fees amassed from crypto futures, 20% from sports betting, and 10% from casino games would be deployed to purchase RLB on the open market and later burned.
“Rollbit has managed to thrive over the last several years, regardless of market conditions, due to the diversity of our products. Bull or Bear, our hybrid offerings have allowed us to generate consistent revenue. Combining Buy & Burn with Rollbit’s provenly successful business model, along with RLB’s existing tokenomics, should give RLB a unique value proposition to its holders.”
- The exec also revealed that RLB is on track to hit around $100 million in 24-hour trading volume between Uniswap and Rollbit’s spot market.
- Meanwhile, the platform’s data suggests over $2.5 billion in crypto futures were traded on Rollbit within the last day.
