(FUN) token awaits a breakout thanks to good news after trading at lower prices for an extended period of time.
FunFair (FUN) are preparing to launch their first online blockchain powered casino after they received a Curacao gambling license. They also informed us in the recent blog post that the company is making good progress with other Tier 1 license applications. There is a planned meeting with the Gibraltar Gambling Commissioner and other government officials in September. Additionally, FunFair applied for a license with the Malta Gaming Authority.
Online gaming is just beginning on this platform despite the fact that the FunFair app is up and running for a while now. Recently FunFair realized that they can’t avoid regulations and came out with a KYC solution named FunPass.
FUN tokens act as chips in the online casino games. The team is looking for new and easier ways to exchange these tokens. Unfortunately, Bittrex delisted FUN token, and token swap stopped working on the Exodus wallet because the wallet has no access to an exchange.
Trouble in paradise
At the moment FunFair is heavily relying on Binance exchange to maintain their token liquidity. In the past few months, FUN token price has been climbing down. 24-hour trading volumes have dropped from around $1 mln to $300,000 and now are steadily growing again. $640,000 trading volume was reported on 14 September. On January 9 FUN price peaked at $0.19, and currently, it is trading at about $0.014 per token.
Combination of good news and ongoing price drop may be precisely what FUN token needs to get a brief pump or maybe even a bull run. However, beware of the high risks as FUN token liquidity hasn’t been stable lately. As I mentioned earlier, it was jumping up and down quite rapidly. And it is more exposed to bot pumps due to the fact that over 70% of trading is happening on one exchange, Binance. FunFair project is quite a risky gamble that heavily relies on the successful outcome of the upcoming launch of their first online casino.
This article should not be treated as advice. Author and publication are not responsible for any losses or profits. Crypto trading is a risky business, and you should always perform thorough research.