The Popularity Of Crypto Casinos Is On The Rise As Most Cryptocurrencies Are On The Low

Last updated on December 27th, 2023

Despite the rather declining trend of pretty much all crypto assets throughout the world, crypto gambling seems to be unaffected and on the rise, as more and more online casinos are integrating digital currencies as a legitimate way of making a deposit. In fact, when it comes to the numbers, nowadays you will struggle to find a top-tier online casino without offering one of the most exciting payment solutions for its players in quite a while now.

The biggest reasons why the popularity of online casinos that work with cryptocurrencies only increases over time can be traced to some of the major benefits that come with using blockchain technology. This includes a lot of benefits such as increased safety and security, instant transactions and anonymity, and features that greatly improve the general payment experience for the player.

And due to this ever-growing demand for online casinos that work with crypto, the number of crypto casinos that work specifically with digital coins is also on the rise, which shouldn’t be surprising at all, considering that both the casino and the player benefit from the use of this type of technology.

However, while crypto gaming is on the rise, cryptocurrencies, on the other hand, are noticing a rather declining trend that only further scares the crypto community. One example is Bitcoin, where the number one cryptocurrency in the world recorded a new low of below $25.000 in just 24 hours, or a little over 10%, making for the lowest number since 2020.

Moreover, this is only in addition to the already dire 60% losses that the digital asset is currently experiencing, the biggest since setting the record for the new high price in November of 2021.

And it is not just Bitcoin that is affected, being that other leading crypto assets such as Dogecoin and Ethereum are also reporting losses for the past month, even greater than Bitcoin with a staggering 17% in just 24 hours.

Celsius Network, a company that specializes in crypto lending, announced that it will cease “withdrawals, swap and transfers between accounts” due to “extreme market conditions”. In addition, the company released an official press statement where they addressed the decision by stating that it is with the purpose of protecting and preserving assets, while they proceed to work on stabilizing the liquidity of the assets.

We are taking this necessary action for the benefit of our entire community to stabilise liquidity and operations, while we take steps to preserve and protect assets.

Cesius Network

Given the absolutely unpredictable nature of the current situation with all cryptocurrencies, the fact that crypto casinos are on the rise should definitely be considered overall good news for the crypto community. As a result, the best thing to do at this moment is to wait and see whether the demand for crypto casinos will further increase, despite the drastic drop in all crypto coins.