Coco, a new crypto casino, has made its debut on the Ethereum blockchain with a bang. According to Etherscan data, the platform saw a transaction volume of $36 million in its first 12 hours. The native token (COCO) has surged to 8 cents, giving it a market capitalization of $8.8 million. Crypto exchange Poloniex listed the token on Friday.
The platform features a slot machine inspired by Milady NFTs and another that focuses on popular memecoins Pepe (PEPE) and Dogecoin (DOGE). It also hosts three traditional casino table games in blackjack, baccarat, and casino hold’em. Coco brands itself as provably fair as each game generates a seed and reveals its hash using the SHA256 algorithm; this seed is created before each game and ensures that nothing can be tampered with.
The launch of Coco comes as the wider crypto market continues to stagnate with a lack of volatility, and crypto traders are turning their attention to on-chain betting platforms like last week’s phenomenon, hamster racing. Popular crypto casino Rollbit has also been gaining traction in light of the stable market this month, with its native token (RLB) rising to 7 cents from 2 cents.