Lyca coin, the native cryptocurrency of Lyca Island or the Lyca Nation, is in advanced talks with casinos in Macau and India to accept payments in Lyca and Lyca Pay coins. According to the sources, in India, the company is talking with several casinos in Goa. The deal closure may take 60-90 days, depending on the approval by the management and building up the requisite infrastructure for accepting coins without any technical glitches or downtime.
The acceptance by casinos will give Lyca coins a valid and high-value underlying usage, providing solid liquidity to its holders. It is being assumed that the closure of such deals in the coming few months can give Lyca coin a new high. In yesterday’s trade, the Lyca coin jumped over 30% to peak at a price of US $0.01065748, with a market cap peaking to the north of US $40 million in the last 60 days.
“We are in talks with casinos to build an infrastructure to provide security and privacy for their patrons by promoting the use of Lyca coin. Macau is a special administrative zone where crypto is considered a commodity and is legal. In contrast, crypto is becoming a dominant investment opportunity in India. Hence, it opens up a great opportunity for Lyca coin to build its userbase,” said Rahul Kumar, Co-Founder of Lyca Island.
Lyca Island, which is striving to become an independent crypto nation in the waters of Belize, has all the potential to become the next privacy coin. According to crypto pundits, Lyca coin gels well with usage in casinos. Estimating its price growth potential, Lyca coin may reach the price level of US $0.90 with a market cap crossing US $2 billion mark even if it closes upon one high-value casino in the next few months. It will be a significant development before its IEO, which is expected to open on Gate.io exchange.
“Our total supply is limited to 10 billion coins with each cycle of growth and enhanced acceptance the price jump seems to be possible. For larger transactions, we will promote the usage of the Lyca Pay coin. We struggled to keep the project alive and we sincerely believe that the good days are ahead,” said Sanchit Mehra, Co-Founder of Lyca Island.
The next few weeks will be interesting for Lyca coin as the launch of the whitepaper and marketing may begin from January 2022. It’s best to buy and hold to benefit from the upcoming growth phases.