Key takeaways

Cryptocurrency projects raised $201 million from VC firms last week.

Chancer’s presale is currently ongoing, and the project is close to hitting the $1 million mark. 

The cryptocurrency market is starting the week in a bearish manner. Bitcoin is down by more than 2% today and could experience further decline in the next few hours. At press time, the price of Bitcoin stands at $29,148 per coin.

However, Chancer’s presale continues to soar higher, with the team now close to hitting the $1 million mark.

Bitcoin and other cryptocurrencies have been experiencing ranging markets since the start of the month. However, despite the market’s poor performance in July, cryptocurrency projects continue to set new records.

A report by CoinDesk revealed that cryptocurrency projects raised $201.4 million last week. The biggest earners in the market were projects that create developer tools for zero-knowledge proofs.

VC firms continue to invest in cryptocurrency projects despite the bear market, indicating that there is a strong belief about the future of the industry.

Chancer is gaining traction despite not going via the VC funding path at the moment. The team’s presale event is set to hit the $1 million mark, with more than 11 million tokens sold so far. 

Cryptocurrency projects raising huge amounts of money from VC firms is a clear indication that investors are willing to enter the market and invest in the right project.

Strong projects with excellent use cases will gain the attention of investors, both retail and institutional. 

Chancer is one of the exciting and new projects currently in the cryptocurrency space. Chancer is one of the projects that is gathering momentum amongst retail investors. 

The team is developing a unique Web3 peer-to-peer (P2P) custom betting platform that would make it possible for users to live-stream betting events. 

What Chancer seeks to achieve is to decentralise the betting industry. The platform is adopting a decentralised method of betting and online gambling. 

An excellent feature of Chancer is that, unlike traditional betting platforms, it doesn’t restrict its users’ betting opportunities. This means that Chancer users can bet on a wide range of events, beyond traditional sports and casino bets. 

The Chancer presale is in its first phase, and the team has raised $954,038.02 of the $1,000,000 required. In the first presale, CHANCER is selling for $0.01 USDT but will be increased to $0.011 in the second stage. 

The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

In their whitepaper, the Chancer team said they would grant users access to numerous features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

In addition to that, Chancer is looking to eliminate the problems associated with using bookmakers when betting by allowing users to set up their custom P2P betting markets. 

Perhaps the most important feature of Chancer is that it would allow users to bet on various activities. The bet can be on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

Chancer’s first presale stage will be completed soon, and the team will move to the second phase. In the first phase, the CHANCER token is currently going for $0.01 USDT. 

However, the team will increase the token price to $0.011 in the second presale round. The Chancer team will use the funds to develop its suite of products. There would be 12 presale events, with an accumulated target of $15 million. 

CHANCER will have numerous utilities within the Chancer ecosystem. CHANCER token holders will have the option of creating and investing in markets created by others. 

Furthermore, the token will allow holders to create, participate in, and profit from their very own predictive markets. 

At the moment, investors can purchase CHANCER tokens using numerous wallets, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

As more investors enter the cryptocurrency market, the focus is on excellent projects still in their early stages. Chancer could become a big project in the cryptocurrency space due to its unique nature. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond over the next few months and years. 

A surge in adoption of the Chancer platform could also lead to a rally by its native CHANCER token. Furthermore, if the broader cryptocurrency market embarks on a Bull Run, CHANCER could become one of the biggest winners. 

The post Crypto projects raised over $200M last week, with Chancer’s presale closing in on $1M appeared first on CoinJournal.

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