What is the current price of Shuffle token (SHFL), and how does it compare to its historical prices?
According to our Price Tracking tool, as of June 17, 2024, the Shuffle token has a price range of $0.2013 and $0.2029 and a market capitalization of $22,382,995. This price is over 70% lower than the all-time high of $0.7875 the coin was worth on March 18, 2024. On the bright side, it's 18.29% more than the all-time low price of $0.1701, recorded on May 21.
Currently, 111,089,349 coins are in circulation, a small number compared to the maximum supply of 1 billion. However, based on the coin’s tokenomics and buyback-and-burn mechanism, fewer gambling crypto tokens might be in supply, consequently increasing its demand and upping its value over time. This signifies a bullish trend in SHFL’s price.
How does the SHFL token interact with the Shuffle.com platform, and what are the benefits for users?
SHFL is available on major cryptocurrency exchanges like Binance and Bitrue, so you can purchase it easily and deposit it on Shuffle Casino. With this token, you place bets on slots, table games, sports, and other options on the gambling platform.
In addition to being a wagering asset, the Shuffle token has several benefits. First, the operator intends to reward its growing community with 28% of the available supply. The airdrop will be held in three phases; the first took place a few weeks after the coin’s launch.
In the first airdrop, 10% of the token was distributed; for the second and third airdrops, the casino intends to share 9% among users based on their wagering activities and active participation. SHFL holders get exclusive bonuses and first access to new features.
What are the concerns or controversies surrounding Shuffle token (SHFL), and how have they been addressed?
As a new coin launched only in March 2024, Shuffle hasn’t caused any controversies yet in the crypto community. There might be concerns about the token’s centralization, security, regulations, and other vulnerabilities in the future, and we look forward to seeing how well the operator addresses these concerns. But, currently, SHFL is just a new coin with a promising future, especially for holders.
How does the Shuffle token's buyback-and-burn mechanism work, and how does it affect the token's value?
The Shuffle token employs a buyback-and-burn mechanism to reduce the circulating supply in the long run. Already, 15% of the gambling platform's revenue has been allocated to buying back these tokens from the market every week. The tokens purchased are then sent to an unusable wallet address, removing them permanently from circulation.
Shuffle’s goal in using this mechanism is simple: reduce the number of circulating tokens to make them scarce. The potential rewards users get from the coin will effectively increase demand. Combine scarcity with demand, and the token’s market price rises.
How can users participate in the SHFL token economy, and what are the potential benefits of holding SHFL tokens?
You can be part of the Shuffle token economy by buying the coin and using it for gambling activities on the platform. To ensure long-term viability, Shuffle allocated 2% of the coin's supply to a liquidity mining program. So, in addition to using the token as a wagering asset, you can contribute your holdings to a liquidity pool. This means locking your tokens alongside other users to create a decentralized trading platform.
Thanks to these locked tokens, the platform has the necessary liquidity for other users to trade or borrow. As compensation for locking these tokens, you earn more SHFL rewards after 3 years. Your exact reward depends on how many coins you contributed to the pool.
What is the future roadmap for Shuffle token (SHFL), and what new features or developments can users expect?
Shuffle doesn’t have a well-defined roadmap. Besides the 3-phase airdrop program and liquidity, the platform doesn’t have a detailed order of operations. In fact, there are no possible dates for the remaining two airdrops. As such, the only things we know are the coin's functions and usability, which include the wagering asset and potential staking reward through the liquidity program.
