Crypto Casino Behind Token That’s Exploded Over 400% in Three Months To Shut Down Trading Platform

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A crypto casino that has seen its native asset skyrocket by over 400% in the last three months is shutting down its trading platform.

In a new thread on the social media platform X, crypto gambling platform Rollbit (RLB) says that it’s closing down its Degen EXchange trading platform due to “regulatory uncertainty and low adoption.”

“Due to regulatory uncertainty and low adoption, we’ve decided to sunset ‘Degen EXchange’ for now.

Any holdings from Degen EXchange can be sold or withdrawn, but buying third-party assets has been disabled.

RLB functionality is unaffected and RLB can be bought and sold as before.”

Furthermore, Rollbit says that its sister site, Rollbot.com, is set to be decommissioned as well while adding that the closures will not change the company’s core products.

“Our sister site, Rollbot.com, is also being decommissioned. The site is now withdrawal-only, with limited functionality for existing accounts.

It’s important to note that these are independent changes that we’re making to better position and safeguard our business. There are no changes to our core product, Rollbit.com, RLB or our NFT (non-fungible token) collections.”

Last month, RLB saw a parabolic rise, outperforming virtually all other digital assets at the time with a rise of over 103% in just one week.

Since June, RLB has seen about an 8x increase in price. On June 23rd, the crypto asset was trading for $0.0201. At time of writing, it is valued at $0.110, a staggering jump of over 400%.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/FocusDesignx/Natalia Siiatovskaia

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