Rollbit is a massive player in the online gambling sector, primarily targeting the crypto user base.
There is a very good in-depth report on Rollbit’s business here, but this post will just lay out the reasoning for why I believe the worst could be behind us.
$RLB Price Action
RLB has performed poorly over the last year, albeit with significant buybacks.
Since buybacks started, the price has been down ~65%.
Put simply, there are essentially no prominent buyers besides the buybacks. We’ve seen numerous whales dump high seven-figure stacks, which has hammered the price.
However, at $153M FDV and a slow beat-down, most rational sellers who are in a rush to sell would have already sold. The price is quickly approaching an inflection point where buybacks will start to significantly help price action as prominent sellers run out of tokens.
Buyback Statistics
The main value accrual for $RLB is buybacks. $RLB can also be used to reduce fees paid on the futures product, receive increased rakeb
