Solana Gains Momentum on Cloudbet’s High-Speed Transactions

[PRESS RELEASE – Willemstad, Curaçao, May 29th, 2024]

Cloudbet, a leading crypto casino and sportsbook platform, is experiencing a significant surge in Solana-based transactions, as users increasingly recognize the benefits of the blockchain’s lightning-fast speeds and low fees. While CoinGecko recently touted Solana’s impressive 46x transactions per second (TPS) compared to Ethereum, Cloudbet’s users are taking full advantage of the blockchain’s capabilities to place bets, deposit funds, and receive payouts faster than ever before.

Cloudbet’s data reveals a steady increase in Solana transaction volume from late 2023 to May 2024, with an average month-on-month percentage change of +27.85% in 2024. The most significant growth occurred between March and April 2024, with an impressive 46.74% increase. During this period, Solana’s price surged, reaching $190-$200, and analysts predicted the token to exceed $270. January and February 2024 also saw substantial increases of 26.41% and 10.41%, respectively.

This sustained growth highlights the increasing popularity and utility of the Solana blockchain and its supported tokens, such as SOL, USDT, and USDC, among Cloudbet users. As more individuals recognize the benefits of Solana’s high-speed, low-cost transactions, they are turning to Cloudbet to enhance their betting experience. Paired with Cloudbet’s all-new Rewards Program, where users can potentially earn rakeback rewards in USDT, the platform is expecting even more transactions on the blockchain.

“When we first noticed the uptick in Solana usage on our platform, we assumed it was just following the currency’s market value,” a Cloudbet spokesperson explained. “But we found increased adoption was driving Solana’s value, not the other way around. So, where are all these new Solana users going, and what are they doing with their digital assets? Interestingly, we’ve seen a lot of Solana users betting on soccer, with just as many in the casino lobby. Following closely behind, we’ve noticed traffic from Solana users placing bets on basketball and tennis.”

Cloudbet’s commitment to transparency means that users only pay the gas fees associated with their chosen network, without any hidden charges when withdrawing their funds. This, combined with the platform’s user-friendly interface and wide range of supported cryptocurrencies, makes Cloudbet the go-to choice for Solana fans looking to engage with upcoming sporting events, including the NBA Finals, UEFA Euro 2024, and the Champions League Finals.

As Solana continues to showcase its impressive performance and Cloudbet continues to integrate more tokens from the Solana blockchain, the platform is well-positioned to cater to the growing demand for high-speed, low-cost betting.

About Cloudbet

Cloudbet is a proud pioneer of crypto betting. Since its launch in 2013, the world-leading crypto casino and sportsbook has served hundreds of thousands of users and taken millions of bets, establishing a reputation as the most trusted, secure, and VIP-friendly brand in crypto gaming.

Cloudbettors can bet with 30 cryptocurrencies, from Bitcoin and Ethereum and stablecoins like USDC and USDT, to SOL and other popular altcoins. The site is available in 18 languages (including Spanish, German, Italian, French and Japanese).

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