We give DecentBet crypto a double thumbs down. The project would have been great with the advent of digital sports betting, however the project suffers from lack of social media interest, very low market capitalization and extreme price declines. In addition, due to management effectively abandoning and the clear absence of a use case we advise readers to avoid this cryptocurrency.
What is DBET crypto?
DecentBet (DBET) crypto was founded by Jedidiah Taylor in late 2017 and operates on the VeChain platform. It’s site, decentbet.com, was created as a decentralized betting platform. DBET crypto is unique in that it allows users to bet on sports and casino games, as well as vote on new game releases on the platform. The games are played via publicly viewable smart contracts verifiable on the blockchain.
DBET has a low to average social media following with over 7.4k total followers on Twitter and Reddit. The Twitter account seems to have stopped any engagement after the last quarter of 2019 while the Reddit social media account did not have any real engagements since Q3 of 2020.
Daily Market Trading Volume
According to Coingecko, the trading volume for DBET crypto has decreased abysmally in the last 12 months and is currently at $0.013 from $2,904.85. This is primarily because there has not been any real coin activity since 2019. When the cryptocurrency market is examined as a whole, this is an extremely low market capitalization. This low market capitalization indicates the currency is illiquid and is effectively unable to be traded.
DBET crypto has unfavorable price momentum. In the long run, markets are voting mechanisms and crypto markets have given a long-term thumbs down to DBET crypto. Even if the price of DBET crypto tokens has increased by at least 300 percent in the last 12 months, the token is practically dead.
Does Decent Bet Solve A Significant Market Problem?
No. Decent Bet does not solve a significant market problem.
Unfortunately for this project the CEO, Jed Taylor, allegedly pulled out from the project by 2019. In one of the reddit comments, Jed hasn’t been in the US since the price decline on the coin. The coin’s website “decent.bet” had also been unavailable since then. With all of these factors we can say that the coin is already “dead” regardless of the current price and being ranked #2591 in Coingecko. There were also no relevant transactions for this coin for the past 2 years. Below are some of the comments found around social media.
In summary, we advise More Than Finances readers to avoid Decent Bet. While this crypto project had some initial promise, the effective abandonment of the project by management, lack of market adoption, extremely low market capitalization and extreme price declines indicate this coin is effectively dead and therefore unsuitable for investors.
To learn how More Than Finances rates cryptocurrencies, read our rating explantation here.
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