Today, Aug. 26, 2023, the net capitalization of the cryptocurrency market remains stable, printing a negligible 0.1% drop. However, some cryptocurrencies managed to print micro rallies even amid such general apathy.
Rollbit (RLB), Sui Network (SUI) logged double-digit gains
Out of all cryptocurrencies in the top 100 by market capitalization, only two tokens posted double-digit price increases in the last 24 hours. Rollbit (RLB) is the best performer of this day and this week. So far, it is up by 14% in 24 hours and is 32.7% up in the last seven days.
Rollbit’s largest hourly Buy & Burn to date!
Impressive to see considering the current state of the market.
Uncorrelated revenue diversification is what makes RLB truly unique. pic.twitter.com/iDwLRZBvpg
— Lucky (@Lucky_Rollbit) August 25, 2023
Rollbit (RLB) is an ecosystem that includes centralized and decentralized cryptocurrency exchanges, an NFT marketplace, on-chain gaming modules with tokenized slot machines, a sport betting instrument, a futures trading platform and so on.
Starting from August 2023, the platform is burning part of the RLB supply daily proportionally to the aggregated turnover of Rollbit’s services. As such, RLB adheres to a deflationary supply model to increase the scarcity of the token over time.
Yesterday, Aug. 25, 2023, Rollbit’s co-founder, who goes by @Lucky_Rollbit on X, formerly known as Twitter, announced that the exchange organized its largest «buy-and-burn» event.
Also, SUI, the core native cryptocurrency asset of Sui Network, a novel L1 blockchain, is 10% up today. In the last week, its price added almost 20%.
Cryptocurrency volatility stopped its multi-month drop
Andreessen Horowitz-backed Layer 1 blockchain Sui (SUI) leverages the same programming language Move as Aptos (APT), the project behind the most overhyped L1 airdrop of 2022.
Meanwhile, during the last week, the net volatility of cryptocurrency markets started to show signs of recovering. All volatility indicators were shrinking since early Q3, 2023. By mid-August, both Bitcoin (BTC) and Ethereum (ETH) became less volatile than Crude Oil.
On TradingView, the BVOL24H indicator increased to 1.0, which is more than three times higher than that of the historic high registered 10 days ago.