FunFair (FUN) Secures Casino License, Prepares for Launch in September

The FUN token has traded at depressed prices for a long time, and is awaiting a breakout on positive news.

The FunFair (FUN) blockchain casino project has secured a gambling license in Curacao, and is preparing for a casino launch in September, the team announced in a tweet.

The team announced in a recent blog that the first casino is coming this month:

“Significantly, the awarding of this licence will allow the FunFair subsidiary to launch its live casino later this month.”

While the FunFair app has been operational, proper online gaming is just starting for this project. Like other crypto projects have realized they cannot bypass regulations, FunFair has incorporated a KYC solution called FunPass.

The FUN tokens should serve as chips for the casino games, and the FunFair team has been seeking ways for an easier exchange. After FUN was delisted from Bittrex, the Exodus wallet token swap has not been available, as the wallet does not have access to an exchange.

For now, FUN relies on Binance for liquidity. But in the past month, FUN trading has been deflating. Volumes sank below $1 million in 24 hours, down to around $300,000. The price has been sinking both in dollar terms, and in Satoshi. In the latest market downturn, FUN marked a 24-hour net loss of 7.9%, down to $0.0152. FUN peaked at around $0.19 on January 9.

The long slide in prices, combined with the positive news, has caused expectations that FUN may be overdue for a bull run, or at least a short-term pump. FUN comes with a risk warning as an asset that quickly loses liquidity. More than 70% of trading volumes for FUN are concentrated on Binance, making the coin vulnerable to bot-fueled pumps. The long-term bear market in altcoins has made FUN an overlooked token and a risky bet on the success of the casino project.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.