Why the Cryptocurrency FunFair Price Soared 38% Today

Cryptocurrency FunFair gained a staggering 38.23% this morning. Its market cap now stands at $920.69 million, with a volume of 3.29 million.

FunFair currently trades for about AU 8 cents per token, up 3 cents since August. While still trailing behind bitcoin in percentage gains, it has risen significantly.

The crypto has seen signs of continued growth all throughout December. Alongside other cryptos, it has steadily grown throughout 2017.

FunFair’s cryptocurrency offering is rather unique. People are not only expanding their crypto portfolio, but cashing in various gimmicks they offer as well.

Why FunFair price spiked?

FunFair even allows you to gamble using their coins. With the sudden and rapid rise of cryptocurrencies, people see this as an interesting gimmick and have begun to invest more. Gambling is a relatively new use for cryptocurrency.

The casino experience is a strong factor to how FunFair utilises blockchain technology in order to translate it into a gambling platform.

From Statista: ‘The market volume of online gaming was forecasted to reach 51.96 billion U.S. dollars in 2018, more than doubling since 2009.’

Whats next for FunFair…

FunFair seems to be setting the foundation for the evolution of cryptos. Online gambling has grown over time, and cryptos are starting to enhance that experience even further.

Online gambling was valued at US$37.91 billion and is forecasted to shoot up to US$59.79 billion by 2020. It has grown rapidly alongside the growth of cryptos.

Both cryptos and online gambling appear to be on an upward trajectory.

Cheers,

Nathan Frangoulis,

Junior Analyst, Money Morning

PS: Want to find out more about the secret world of cryptocurrencies? Click here.


Money Morning is Australia’s most outspoken financial news service. Your Money Morning editorial team are not afraid to tell it like it is. From calling out politicians to taking on the housing industry, our aim is to cut through the hype and BS to help you make sense of the stories that make a difference to your wealth. Whether you agree with us or not, you’ll find our common-sense, thought provoking arguments well worth a read.

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