The rise of Raffle Coin (RAFF), a new project that promises to transform the raffle system, has caught the attention of supporters of Internet Computer (ICP) and Arbitrum (ARB). The growing popularity of Raffle Coin stems from being the world’s first decentralized raffle lottery platform.
Like the rest of the cryptocurrency market, supporters of Internet Computer and Arbitrum have very high expectations for Raffle Coin (RAFF) as it creates a new niche in the market. Read on to find out the reason for the growing excitement surrounding this new project.
Internet Computer (ICP) Snaps Bearish Streak
The cryptocurrency market has been on a downtrend after forming seven strong bullish weekly candles. However, Internet Computer is one of the few altcoins that has managed to break out of this bearish trend. After testing the $12 support level, ICP formed a notable green candlestick, indicating bullish momentum.
Since then, the ICP price has increased by more than 13% to rise above the $14.5 level. To extend its gains, the ICP price will need to hold above the $13 support level for a potential 30% breakout. If this happens, Internet Computer will look to trade as high as $17 in the coming week.
Arbitrum (ARB) Faces Increased Bearish Pressure After ATH
Since January, when Arbitrum formed a new all-time high (ATH) at $2.39, the volatility of the altcoin has been on the rise. Since then, Arbitrum has moved out of sync with the rest of the crypto market. While the likes of Bitcoin have soared to a new all-time high, Aribtrum has faced a strong bearish momentum.
Since peaking at its ATH, the price of ARB has plunged by more than 35% to fall to the $1.60 range. Multiple timeframes still paint a bearish picture for Arbitrum, as the price of the coin has dropped by 8.8% on the monthly timeframe and 5.9% in the last week. With ARB failing to recover the $1.8 and $2.0 support levels to extend its bullish run, investors have turned to Raffle Coin, promising huge returns.
Raffle Coin (RAFF) Sees Massive Support in Presale
Even though Raffle Coin (RAFF) has yet to come out of its presale phase, this new project is already generating high levels of interest in the cryptocurrency market. It emphasizes the transparency and security of raffles through blockchain technology. Thanks to operating on a blockchain, players can enter hundreds of raffles right away and convert their winnings to cash on the spot. Each raffle draw will be conducted live on streaming platforms with the purpose of verifying the integrity and objectivity of the raffle process.
Raffle Coin has had notable success due to its distinct approach to the lottery system and community building. Individuals, who join the presale now, are automatically moved into a $100,000 lottery contest. The fact that more people are getting involved with RAFF leads to the projections of cryptocurrency experts up to 50x when the network starts. Raffle Coin, a relatively new cryptocurrency, is gaining a lot of recognition as the best investment in 2024, especially during the presale when it is priced at just $0.020 per coin.
Find out more about the Raffle Coin (RAFF) presale by visiting the website here
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