It also burnt RLB tokens worth $8.3 million during the month, reducing the circulating supply to 57.75% of the original 5 billion tokens.
Blockchain gaming and crypto futures trading platform Rollbit had a successful February, generating over $62 million in revenue. The platform saw $34,095,138 from casinos, $22,094,825 from sports betting, and $6,170,580 from futures trading in the last 30 days.
February was another hot month on the RLB Dashboard.🔥
Revenues totaled over $62 Million! About $8.7 Million of which went towards the hourly buy & burn.
65,232,291 $RLB were bought & burnt in the past 30 days as a result!
See the burns: https://t.co/m8anFY271p pic.twitter.com/K4H3N4wSMl
— Rollbit (@rollbitcom) March 2, 2024
In the past 30 days, a staggering 65,232,291 RLB tokens were burnt, which were worth $8.53 million at the current market price of RLB. So far, Rollbit has burnt a whopping 2,112,627,621 RLB tokens, representing 42.25% of the original 5 billion RLB supply. The current circulating supply stands at 2,887,372,379 RLB, accounting for 57.75% of the initial token offering.
Casino Revenue Drops, Sports Betting Makes Up the Loss
The February revenue is about 4.5% short of that of January when the crypto casino platform earned $64.9 million. As compared to January, February is two-day shorter, the Rollbit revenue was set to match the figures from the previous month.
However, the casino revenue in January was $48.3 million, which dropped by 29.3% to $34.1 million in February. Sports betting revenue which was $10.7 in January increased by 97.19% to $22.1 million, accounting for 35.64% of the overall numbers. Crypto futures which saw $7.8 million in January dropped 25.8% to $6.2 million in February.
30-Day RLB Price Analysis
RLB which is priced at $0.133 as of writing these lines on CoinMarketCap has experienced a market correction with a 9.32% decline in its USD valuation over the past month.
The market capitalization of RLB currently stands at $438,535,854, reflecting a 2.69% slice of the broader cryptocurrency market. Despite the recent adjustment, RLB maintains a notable presence, securing the #221 spot in the overall market ranking.
Over the last 24 hours, RLB has displayed an 18.18% increase in trading volume, amounting to $3,927,506. This surge in trading activity has positioned RLB at #682 in the daily trading volume rankings. The volume-to-market cap ratio, at 0.91%, further indicates a heightened level of engagement within the RLB market.
