Benzinga - Rollbit (CRYPTO: RLB), a crypto casino and exchange platform, decided to purchase and subsequently burn its RLB tokens on a daily basis, leading to a 63% spike in the token's price.
The platform, which facilitates token trading with an impressive 1000x leverage, also provides sports betting, arcade games, and a unique token-based jackpot.
Recent data reveals that Rollbit saw a trading volume of crypto futures exceeding $2.5 billion in just the last day, Coindesk reported.
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The platform's revenue reached a milestone, surpassing $2 million within the same 24-hour timeframe across its diverse services.
This indicates that a substantial portion of the revenue, after accounting for operational costs, will be allocated for daily RLB token purchases.
Such a consistent buying strategy could potentially maintain continuous upward pressure on the RLB token, especially if the platform's user base continues its growth trajectory.
Rollbit's performance this year stands out as one of the fastest-growing crypto protocols due to its widespread appeal to both gamblers and traders.
Even in a predominantly bearish market, offerings like crypto games have attracted a significant user base to Rollbit.
Reflecting on the platform's resilience and diverse offerings, Rollbit's anonymous co-founder, who goes by “Lucky,” credited the company's "diverse" products for helping it thrive in recent years despite market conditions.
"Bull or Bear, our hybrid offerings have allowed us to generate consistent revenue,” he said.
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