If you’ve been around the crypto space in the previous cycle, you’ve probably heard about BetSwirl. After all, the project went live in 2021 on Polygon. However, the project is catching more attention following its transition to Ethereum, which remains the most popular network. Still, there are many of you who are hearing about the BetSwirl crypto project and the BETS coin for the first time. Therefore, we’ll start today’s article by covering the very basics of this project. This is where you’ll have a chance to find out what it’s all about. We’ll look at the project’s team, socials, and roadmap. We’ll also ensure you understand the difference between BetSwirl v1 and BetSwirl v2.
Then, we’ll focus on the BETS crypto asset. Again, we will start with the basics of the BetSwirl token and then progress into the coin’s specific aspects. This is where we’ll cover the BetSwirl v2 tokenomics, utility, and price action.
Last but not least, we’ll explain how you can use Moralis Money to find GambleFi projects and other interesting altcoins with potential in their earliest stage, answering the “Can crypto make you rich?” question!
What is BetSwirl?
BetSwirl is a crypto project that aims to transform the future of the GambleFi sector by implementing state-of-the-art blockchain technology. Just by taking a quick glance at the project’s official website (screenshot below), we can immediately notice that the project utilizes Chainlink’s randomness and automation.
Additionally, BetSwirl is a cross-chain, provably fair gambling dapp (decentralized application). However, it is also a cross-chain randomness provider and gaming platform. Overall, in the project’s whitepaper, BetSwirl presents itself as an open-source venture fostering innovation. So, its goal is to create open-source tools and games that everyone can integrate into their dapps.
The BetSwirl Ecosystem
Inside the project’s documentation, we find the ecosystem section. This is where BetSwirl lists games, sports betting, staking, analytics/API, and contracts, which are the products/services this GambleFi project offers.
When it comes to games, BetSwirl splits them into two main categories: players versus player games and player versus house games. Inside the first category, the project currently only offers its Russian roulette game. However, the second category offers more games, including dice, coin toss, and roulette.
In order to learn more about the games and other components of the BetSwirl ecosystem, make sure to visit the above-outlined documentation.
On the other hand, you can experience these components in action by accessing the BetSwirl dapp. You can do so via the “Open dApp” button in the top-right corner of the previously outlined project’s homepage. Once inside the dapp, you get to select the network you want to focus on in the top menu. And, from the side menu, you get to choose the specific component of the ecosystem you wish to explore:
Of course, to use the above-presented dapp, you’ll need to connect your Web3 wallet (e.g., MetaMask). Plus, for the chain you decide to focus on, you’ll need to have a native token (ETH, MATIC, AVAX, BNB, ARB) or some BETS crypto asset.
Team, Socials, and Roadmap
Under the FAQs section on the project’s homepage, you can find the “Who is the team?” question. The answer states that the BetSwirl team consists of a talented group of eight crypto-native individuals. They claim to have a wealth of experience in product design, graphic design, gaming design, and software development. Plus, the team points out that it is committed to delivering the ultimate Web3 gaming experience.
While the team is not fully doxxed, the “Team” section of the project’s whitepaper offers names, roles, and descriptions of these core eight team members:
As for the project’s social, you can access its Link3, Discord, X, and Medium accounts/channels from the top of the BetSwirl homepage:
The project also offers an extensive roadmap dating back to the third quarter of 2021. The roadmap also marks completed milestones with green checkmarks. You can see the details of BetSwirl’s roadmap inside the project’s docs or in the image below:
BetSwirl V1 vs. BetSwirl V2
BetSwirl v1 refers to the project’s initial plan, focusing on the Polygon chain and other EVM-compatible chains. However, as pointed out previously, in the summer of 2023, the project transitioned to BetSwirl v2. The core advantage of this transition is the project’s expansion to the Ethereum network.
As explained in the project’s X post from July 29, 2023, BetSwirl v2 can accommodate bigger trades with less slippage. This was achieved by the $1 million worth of liquidity in the 80/20 Balancer pool:
What is the BetSwirl (BETS) Token?
The BetSwirl token is the project’s native cryptocurrency. The BETS coin went live in 2021 on Polygon and gradually expanded to BNB Smart Chain, Avalanche, and Arbitrum. However, with the release of BetSwirl v2, the BETS crypto asset also lives on the leading programmable blockchain: Ethereum.
So, the BETS coin is a cross-chain cryptocurrency. It is an EVM-compatible token, meaning it follows fungible token standards on supported EVM-compatible chains. For instance, on Ethereum it follows the ERC-20 token standard.
Full BETS Crypto Analysis
In order for you to decide whether or not the BetSwirl token deserves your attention, you ought to get acquainted with the ins and outs of this crypto. Using the Moralis Money $BETS crypto token page, you’ll be able to research the BETS coin more in-depth yourself.
However, it only seems fair we cover some of the aspects in this article. As such, you can use the following sections to learn more about the BETS crypto’s tokenomics, use cases, and price action.
BETS Coin’s Tokenomics
- Token name: BetSwirl v2
- Symbol/ticker: BETS or $BETS
- Token type: Fungible EVM-compatible token
- Networks: Ethereum, Polygon, BNB Smart Chain, Avalanche, Arbitrum
- Token smart contract address: 0x94025780a1ab58868d9b2dbbb775f44b32e8e6e5 (the same address on all supported chains)
- Maximum supply: 7,777,777,777 $BETS
- Token initial allocation:
- 7% treasury
- 8% team
- 5% protocol development
- 20% game’s bank liquidity
- 21.69% liquidity
- 10% marketing
- 5% advisors
- 7.26% strategic sale
- 8.03% private sale
- 3.95% IDO
- 4.07% burned
BetSwirl Token’s Use Cases
The BETS coin is the BetSwirl ecosystem’s utility token. Furthermore, these are the things users can do with the BetSwirl (BETS) token according to the project’s whitepaper:
- Play BetSwirl games
- Stake BETS to earn profits
- Buy exclusive NFTs
- Send it to friends, family, and users across multiple chains
The whitepaper also explains that BetSwirl uses BETS as a reward for those who stake the asset, for adding liquidity to the bank for a higher payout, to cover marketing expenses and protocol developments, and to add liquidity to the BetSwirl token pairs on DEXs.
$BETS Price Action
CoinMarketCap offers a price chart that includes the price action of both versions of the BETS crypto asset. So, the above weekly chart clearly shows that the BetSwirl token price has covered quite a range. For instance, the wick of the first candle (from May 2022) reached as high as $0.0003654; however, it closed at $0.00009739.
Then, the BETS crypto token worked its way around the $0.00012-ish-$0.000035-ish range throughout 2022.
You probably remember that the crypto market as a whole started to move upwards in January 2023. As such, the BETS coin’s price also started to increase at that time. In fact, the token had quite a rally. It went from its low at $0.00003472 in early January 2023 all the way to $0.001151 in mid-March 2023. So, that was a roughly 33x price increase.
There was a larger pullback from $0.0009579 down to $0.0003797 along the way to the aforementioned top. And once the price reached $0.00151, it pulled back down again to the support at the $0.0004-ish region.
A couple of weekly closed candles stayed below $0.00074 for more than a month. Then, following a revisit of the $0.0004-ish region at the beginning of July 2023, the BETS coin rallied again. This time, the asset set its current ATH (all-time high) at $0.001327. However, the weekly close came in at $0.0009-ish.
A sharp dump and a fast recovery following the token’s ATH is not a proper reflection of $BETS’s value. Instead, it is the consequence of the token’s migration to the new smart contract – the birth of BetSwirl v2.
Post-Migration Price BETS Coin Chart
The above twelve-hour chart indicates the BETS crypto’s price action after the asset’s migration. It clearly shows that the token’s value decreased since migration until September 3, 2023. On that day, the token found support on top of the previously significant $0.0004-ish level.
Only time will tell if the bottom is in or if $BETS will go lower. Of course, this will greatly depend on the price action of the rest of the crypto market.
So, if the crypto market as a whole goes any lower, it will take BETS down with it. In that case, $BETS will most likely revisit the previous level of significance at $0.00012-ish. And if the pullback would be severe, lows at $0.000035-ish are not out of the picture.
On the other hand, if Bitcoin and the rest of the crypto market start to climb higher, the BETS crypto token will likely reach its ATH levels.
Research BETS with Moralis Money
If you are interested in the BETS crypto token, make sure to research it further. The best place to do this is the previously mentioned Moralis Money’s token page for BETS. As such, follow the above “$BETS” link or use the interactive widget below:
How to Find GambleFi Projects Like BetSwirl
Thanks to its expansion to Ethereum, BetSwirl became one of the serious contenders for top spots among GambleFi projects for the upcoming bull market. However, so far, Rollbit Coin has been the winner of 2023 when we talk about price action. After all, following Rollbit’s migration from Solana to Ethereum, the RLB coin experienced quite a run.
But Rollbit wasn’t the only GambleFi project offering profits in 2023. And people with the right tools were able to spot these types of tokens before they pumped.
Fortunately, you can join these traders in the know today by starting to use Moralis Money’s core feature: Token Explorer. This powerful on-chain search machine is designed to help you find the best altcoin opportunities at any time. So, not only can it help you spot projects in the GambleFi sector, but this go-to tool for finding altcoins with potential covers all token categories (meme coins, GameFi, DeFi, etc.). Plus, it allows you to do so across all the leading EVM chains (Ethereum, Polygon, BNB Chain, Fantom, etc.).
You can start running your on-chain strategies for free by accessing Token Explorer. However, to access lower timeframes and ensure you find tokens before they pump, you’ll want to upgrade to the Starter or Pro plan.
Token Explorer is very intuitive, so you can easily learn to make the most of it by simply using it. The animation below should help you get going. However, if you’d like more detailed guidance, we recommend you check out our guide on how to find the next coin to blow up.
Exploring GambleFi’s BetSwirl – BETS Coin and Platform Analysis – Key Takeaways
- BetSwirl is a GableFi crypto project that went live back in 2021. It originally launched on Polygon but soon expanded to other popular EVM chains. However, it wasn’t until July 2023 that the project migrated to Ethereum.
- BetSwirl utilizes the power of Chainlink to ensure verifiable randomness.
- The project follows the open-source policy, allowing other projects to use their code and games.
- BETS’ market cap is still rather low, so there’s a lot of potential room for growth.
- Past $BETS performance has been greatly dependent on the rest of the crypto market.
- To determine if/when to buy $BETS, use Moralis Money’s token page for the BETS crypto token.
- Start finding other GambleFi tokens and altcoin opportunities with Token Explorer.
If you enjoy online gambling, the BetSwirl dapp deserves your attention. The BETS coin also has a solid potential for price appreciation.
However, you shouldn’t exclusively focus on this altcoin. After all, the average alt tends to increase in value by more than 50-70x during a bull market. As such, you should increase your chances of success by exploring other altcoin opportunities. And you should learn how to do that properly sooner rather than later. That way, you’ll be ready to make the most out of the upcoming bull run!