Crypto worry 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 yr. 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 without doubt 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 to be like 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 to be like at a number of essential measures within the business. A number of the most essential issues it appears to be like at are social media exercise, volatility, momentum, and dominance.

In most intervals, 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 often known as whales, have continued holding their positions and haven’t bought in the course of the latest sell-off. 

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

#Bitcoin lately skilled the longest interval of detrimental year-over-year returns in its historical past, lasting 15 months.

The longest interval prior was just below a yr.

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 beneficial properties 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 widespread industries. The corporate has raised over $1.65 million from buyers up to now few weeks. You should buy the Chancer token right here.

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

In the present day, the sports activities betting business is dominated by extremely centralized firms like FanDuel, DraftKings, BetMGM, and Caesars. Internationally, a number of 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 are going to personal the ecosystem because the community will use a decentralized autonomous group (DAO) mannequin. To realize this, Chancer shall be powered by the $CHANCER token. Holders may have essential privileges like making selections within the ecosystem.

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