Binance regains 50% global market share, fuelling bullishness on TGC’s GambleFi potential.
Binance, the global cryptocurrency exchange, has surged back to dominance, securing nearly 50% of the worldwide market share, according to data reported by Kaiko.
This significant increase in market share has occurred over the last two months, coinciding with Binance’s settlement with the US Department of Justice (DoJ) and the approval of spot Bitcoin ETFs by the US SEC.
Binance’s native token, Binance Coin (BNB), currently trades in the $289.85 – $312.34 range. Despite a 2.4% increase in the past week, the altcoin has experienced a 6.7% loss on the monthly chart. Analysts are eyeing a potential price surge to $350 in the coming months, aligning with Binance’s market resurgence.
Binance’s recent success can be attributed to upgrades implemented on the Binance Smart Chain (BSC). The enhancements were designed to fortify security measures in response to escalating regulatory pressure. Notably, BSC reported an 85% reduction in financial losses due to security incidents in 2023 compared to the previous year.
The AvengerDAO proactive alert system, integrated into BSC’s security framework, played a role in minimising potential scams and hacks.
Despite a 44% increase in security incidents, BSC observed a 64% decrease in fiat losses in Q4 2023 compared to Q3. The platform’s commitment to robust security is underscored by its minimal impact on vulnerabilities, accounting for only 0.9% of total vulnerabilities based on Total Value Locked (TVL) in Q1 2023.
As Binance’s market share grows, the spotlight turns to $TGC, a cryptocurrency expected to arrive on the Binance platform and be positioned to benefit from this growth.
$TGC: The GambleFi Token To Watch
TGCasino, a licensed GambleFi casino and sportsbook, successfully concluded its $TGC native token presale on December 21, 2023, raising $5 million.
Positioned as a key player in the growing crypto casino market, TGCasino operates on the widely-used messaging platform Telegram, aiming to provide easy access without additional downloads.
Run by experienced casino professionals, TGCasino aims to prioritise regulatory compliance. The $TGC token plays a central role in the casino ecosystem, employing a model where 40% of bought-back tokens are burned, contributing to scarcity, while the remaining 60% is distributed as rewards to foster user loyalty.
Beyond traditional gambling, TGCasino introduces exclusive High Roller NFTs for those who contributed $5,000 or more in the presale. The platform offers a variety of games, including blackjack, roulette, baccarat, craps, poker and sports betting options.
A staking system for $TGC holders provides additional tokens and Ethereum rewards over a 6-month pool, encouraging long-term engagement and loyalty within the TGCasino community.
The $TGC Ongoing Boom Post-Presale
TGCasino has experienced notable success in the GambleFi sector, with user engagement and growth evident. Over $155 million has been wagered by players, with participation from more than 4,500 players and total deposits surpassing $14 million.
On February 2, 2024, $TGC began its ascent up to $36 million, subsequently surging to $55 million near the end of the day and has now reached $69 million according to Dexscreener. TG Casino has paid over $11 million in profits for its players, showcasing its robust performance.
Industry observers have expressed confidence in $TGC’s potential, with social media commentary highlighting the token’s impressive profit generation, steady growth and positive outlook. The fully diluted valuation of TG Casino ($TGC) is reported to be $67,925,221.
As decentralised gaming sites gain popularity, $TGC is positioned to compete with other prominent players in the market.
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