News Release – Willemstad, Curaçao, October 17, 2024
New data from Cloudbet, a leading cryptocurrency casino and sports betting company, shows that the emergence of updated and faster cryptocurrencies such as Solana, Polygon, and Tron is not as popular among online gamblers as mainstream coins. Platform data indicates that gamblers prefer mature cryptocurrencies such as Tether (USDT), Bitcoin (BTC), and Ethereum (ETH).
Data for the year to date reveals that USDT accounts for 47.3% of the platform’s total turnover, involving 35 different cryptocurrencies. Bitcoin accounts for 28.9%, followed by Ethereum at 11.5%.
Usage of faster transaction times altcoins such as Solana (SOL), Litecoin (LTC), Ripple (XRP), and Tron (TRX) is growing but still lagging behind.
A company spokesperson emphasized, “After looking at the data, you would think, ‘Cryptocurrency gamblers. They’re just like us.’ The same concerns about volatility or price fluctuations affect every cryptocurrency holder, whether you’re betting or not.”
In June 2024, Cloudbet launched an innovative new rewards program that rewards users in US dollars without any rollover restrictions. This month, the company released the second iteration of Cloudbet Rewards, now rewarding users in the cryptocurrency of their choice. For most users, this is still USDT, but it provides Cloudbet users with greater financial flexibility to use more coins.
A spokesperson for Cloudbet said, “We’re really interested to see how users will take advantage of the versatility of the rewards program.” “While the first iteration was obviously well received by users and accelerated the transition into the next quarter, we might find that users start betting with PONKE or other meme coins as a way to pivot towards alternative crypto projects, especially if they believe in their potential.”
Since its establishment in 2013 as the first licensed Bitcoin casino, Cloudbet has been at the forefront of the evolution of cryptocurrency gambling preferences. The spokesperson shared, “After almost a decade in this field, we’ve seen the market mature.” “Stability is now the motto for most cryptocurrency gamblers.”
The Cloudbet spokesperson added, “Volatility is not only a key metric for cryptocurrency trading but also for cryptocurrency gambling. Strategies such as increased liquidity and stronger blockchain security can effectively manage and reduce the volatility of coins. Gamblers using volatile coins might feel like they’re betting, only to see their winnings decrease as prices drop.”
About Cloudbet
Cloudbet is a proud pioneer of cryptocurrency gambling. Since its launch in 2013 as the world’s first crypto-friendly sportsbook and casino, Cloudbet has served hundreds of thousands of users and facilitated millions of bets, establishing a reputation as the most trustworthy, secure, and VIP-friendly brand in crypto gaming.
Cloudbet users can bet with over 35 cryptocurrencies, ranging from Bitcoin, Ethereum, and stablecoins such as USDC and USDT, to SOL and other popular altcoins. The website is available in 18 languages, including Spanish, German, Italian, French, and Japanese.
For media inquiries, odds, and insights, users can contact [email protected] or visit media.cloudbet.com.
