FunFair Recovers, Gains Attention, but Bittrex Delisting Looms
The FunFair project has an early start in offering blockchain-powered casino games, but now the market price may see pressures.
FunFair has been an overlooked asset, which suffered deep losses in the recent correction. From a recent peak around $0.18, FUN went down as low as $0.03, but doubled overnight, regaining its strength at around $0.06.
Now, FUN will face a serious test as it gets delisted from Bittrex on February 9, in the usual Friday delisting schedule. The reasons for the de-listing are unclear, but it may be related to the intention of Bittrex to operate with fiat funds and face stricter regulations, and not sell gambling-related tokens.
Now, the fate of FUN would depend on wider popularization, as the asset has only started trading this summer. At the moment, the FunFair project is making the rounds at gaming conferences, presenting its virtual casino technology that would use the FUN token.
The FunFair project will aim to disrupt online gaming, as one of its main features would allow users to run their own casino games with in-browser 3D rendering. The fairness is made possible through Ethereum-based smart contracts.
Bittrex Delists FUN
The FUN token is available through the Exodus wallet and Shapeshift, as an alternative to exchange trading.
However, the market price would have to survive the effect of the Bittrex delisting. Users are advised to move the token from the exchange as quickly as possible, to be able to move it to a secure wallet, or move it to Binance for trading. And while the delisting would initially reduce liquidity, the FUN token has still been around for months, and may be added to new exchanges soon.
Bittrex has angered investors with other sudden de-listings, as the exchange supports numerous assets with very different types of performance.
The FunFair project may also receive a casino license soon, and thus further establish its positions as a fully legalized gambling platform. Unfortunately, FUN has had a series of unfortunate events, starting with the significant crash. Now, the FunFair project will have to offset the negative developments, once its official launch is ready to be announced.