Wax Price Prediction 2022-2031: Is WAXP a Good Investment?
Wax Price Prediction 2022-2031
WAXP Price Prediction 2022 – up to $0.099
WAXP Price Prediction 2025 – up to $0.33
WAXP Price Prediction 2028 – up to $0.99
WAXP Price Prediction 2031 – up to $2.86
Wax (WAXP) has gained popularity in the blockchain industry in the past few months. It simplifies e-commerce transactions by using WAXP tokens to make navigating the digital commerce market easier. With a jumpstart in Dec 2021, WAXP’s trading volume has boosted $1,368,277,000 by 1250%, leading to a market cap increase of 32.81%.
Wax price predictions are a critical analysis of the past price actions of the WAXP token. Wax, a blockchain released in 2017, was designed to enhance e-commerce transactions by making them safer and faster.
The Wax token (WAXP) was developed to bring more efficiency to blockchain technology; being a layer one blockchain, the platform is renowned for its apparent support for Non-Fungible tokens. The Wax blockchain is arguably one of the most significant layer one blockchains with NFT support, and it has since thrived off the NFT feature.
Today’s WAX price today is $0.085711 with a 24-hour trading volume of $5,143,178. WAX is up 0.69% in the last 24 hours. The current CoinMarketCap ranking is #138, with a live market cap of $187,647,772. It has a circulating supply of 2,189,298,396 WAXP coins and the max. supply is not available.
Why is WAXP Price Rising?
In mid-November, this token is the best gainer on Crypto.com. The coin has a market cap of $1.5 B. Its total daily exchange is around $1.3 billion. Therefore it is no secret the market is happy about the asset.
On DEC.09,2021, WAX said it welcomed OKEx to their ecosystem after purchasing their native tokens in a significant but undisclosed amount of cash. They said that this investment would give OKEx some rights in governance of their whole ecosystem.
The Wax blockchain has grown immensely and is currently trading at an average market price of $0.3477, which signifies a 24 hours percentage price increase of 1.47%.
The Wax coin is listed on cryptocurrency market exchange platforms with the ticker symbol WAXP. It is currently ranked number #101 by market cap on Coin Market Cap, with a live market capitalization of USD 678,537,249.
The overall market sentiment for the token is quite bullish; however, before we analyze the WAX price action to determine the expected future price of the token, let’s break down the entire Wax ecosystem and determine its impact on the cryptocurrency and blockchain industry.
What is Wax (WAXP)?
The WAX token, also known as WAXP, is a virtual cryptocurrency entirely compatible with EOS, a mainet launched as a significant competitor to the Ethereum blockchain. The WAX price has steadily increased over time and can easily rank among the top 100 most popular tokens in the crypto world.
The WAXP price forecast is based on the previous analysis of the price of the WAX token from its launch. One significant aspect of any blockchain technology is its consensus mechanism. The platform uses a delegated PoS consensus algorithm for the WAX blockchain, also known as the dPoS (delegated Proof of Stake consensus algorithm.)
The platform’s development encourages the ability to vote on proposals within the blockchain, which is often lacking in most layer one blockchain technologies. Similarly, the entire Wax ecosystem consists of a broad range of blockchain features such as cloud wallets, crypto marketplaces, decentralized exchange platforms, blockchain games, and other forms of blockchain-related property.
One significant boost to the Wax blockchain is its support for Non-fungible tokens, which recently received significant attention from the crypto world. The NFT trading platforms have increasingly witnessed an increase in the number of registered NFTs and the amount being traded.
Being among the governance token on the Wax blockchain, the Wax token has benefited from the surge in trading activities within the ecosystem. As a result, the Wax token has since recorded impressive returns on investment of up to 74% since its launch. Below is a detailed overview of the WAX token’s past and present price analysis.
Wax (WAXP) Overview
Image Source: CoinMarket Cap
The cryptocurrency industry market cap has been fluctuating between 1.7 trillion US dollars and $2 trillion US dollars. The fluctuation has resulted from several negative crypto news affecting the use of cryptocurrencies in some geographical regions because of failure to meet financial regulation standards.
However, since its launch, the token has generally maintained a positive percentage ROI (Return on Investment). Currently, the WAXP token is trading on several crypto exchange platforms, from Binance to KuCoin and Huobi Global, among others.
Jonathan Yantis and Willian Quigley founded the entire blockchain project in 2017. The two have had credible background experience in financial and managerial positions.
The overall performance of the Wax price has been impressive over time. Today the crypto token trades at an average price of $0.0354.
The token is particularly unique because it allows users to convert their tokens between two blockchain ecosystems. The Wax blockchain permits WAXP users to convert their tokens to a similar token known as WAXE. On the other hand, WAXE is an ERC-20 crypto utility token.
These unique features have given the parent Wax coin an apparent price rise due to the continuous interaction with the other blockchain networks.
Today, they employ smart contracts that allow the advanced blockchain features to be executed, allowing for more transactions within the network and subsequently increasing the Wax price (WAXP).
The current market cap of WAX tokens stands at $688,525,050.70, which is up 1.16% in the last 24 hours. The token has a crypto market dominance of 0.03%, with a volume-to-market cap ratio of 0.1386. However, the trading volume has slightly declined to $95,396,822.15 within the last 24 hours, representing a -24.84% change.
The Wax token has had an impressive run since its launch. From the data available on Coin Market Cap, the virtual currency recorded an all-time low price of $0.01596 – on December 30th, 2019. Similarly, the highest price ever recorded for the cryptocurrency was $5.01 – five years ago in December 2017. With a total supply of 3,852,726,973 WAXP and a current circulating supply of 1,951,720,115 WAXP, the token is poised to record more price gains in the future.
The historical data indicates that WAX price predictions should be bullish for the long term. However, the predictions are also dependent on other market factors; therefore, before we thoroughly analyze the possible future prices of Wax tokens, let’s dissect some of the applications of WAXP and the WAX ecosystem as a whole.
Wax (WAXP) Applications
Several applications exist for the Wax blockchain in general. The platform was designed to introduce more efficiency in crypto transactions, focusing on the e-commerce sector. Today, however, the WAX ecosystem has managed to incorporate several blockchain features that make it unique and solve significant challenges faced by other blockchain ecosystems of its caliber.
The WAX forecast is massively dependent on the current price of Wax as well as its actual utility to cryptocurrency users. The platform allows users to interact with various NFT games that allow users to play to earn. For instance, Kolobok Adventures and Alien world are some of the games that allow access to their decentralized applications (DApps) and NFT marketplace through the Wax blockchain.
Wax boasts of a robust network of smart contracts that automate several transactions within the ecosystem. It is also renowned for its famous Wax lab, which oversees the voting process within the ecosystem to approve or disapprove projects. The blockchain boasts faster transaction speeds that allow several transactions per second within the blockchain network, unlike the Ethereum blockchain. Additionally, the platform charges affordable gas fees, which are incredibly below the benchmark for other blockchain projects.
Wax Technical Analysis
WAX price analysis reveals the digital currency slipped from $0.102 on 9/12/2022 to the recent lows of $0.08655, where it has been stuck for a period of 21 days.WAX prices have failed to break out upwards or further downwards, indicating consolidation. The Bollinger bands on the weekly chart are wide, indicating the market has witnessed significant volatility.
WAX climbed to $0.0859 in the past week after a series of bearish cycles, trading as low as $0.08371 on 9/19/2022.
From technical analysis data, immediate resistance is placed at $0.090; if WAXP’s price can break this level, it has to face the hurdle of $0.095. The next resistance is $0.098. Major resistance is placed at $0.936 levels. If the WAX price drop continues, the WAXP price will hit the support of $0.079, and investors can wait for the next support. Major support is placed at $0.080.
The WAX/USD appears to cross over the curve of the Moving Average, indicating a bearish movement. The price seems to move downwards towards the support, attempting to break it. As the volatility happens to close, this could be in favor of the bulls, as a breakout would explode the volatility providing more room for the bulls to take over.
The price chart’s technical analysis of major technical indicators shows that the relative strength index (RSI) is placed at 43.92, a sell sign. The MACD line is slightly below the signal line. Data shows that WAX WAXP started trading above its 20 EMA and 50 EMA from September 2022 onwards, but prices dropped below 20 EMA on October 2022. There is a risk of breakdown based on our price forecast. Technical indicators and market sentiment for the token are negative, and there is no confirmation of an immediate price rise in the near future. Still, aggressive traders can wait to bounce back from the mentioned support levels and take an appropriate entry for the short term. Currently, the 20 EMA, 50 EMA, and 200 EMA are above the trading price of WAX.
WAX price analysis reveals the cryptocurrency following a bearish movement, showing further bearish potential. However, the market shows colossal potential for a decline in the coming days. If the bulls manage to use it to their advantage, they might engulf the market and help increase the price of WAX beyond expectations.
WAX Price Prediction by Cryptopolitan
WAX Price Prediction 2022
Our WAX price prediction 2022 estimates overall WAX (WAXP) price growth and could reach a maximum trading price of $0.099. WAX price is also projected to reach a minimum of $0.091 before stabilizing at an average price of $0.095.
WAX Price Prediction 2023
Our WAX price prediction 2023 suggests WAX could attain a maximum value of $0.16 and an average trading price of $0.14. The digital currency is estimated to attain a minimum of $0.13 before the end of the year.
WAX Price Prediction 2024
Our WAX WAXP price prediction for 2024 is a minimum value of $0.19 and a maximum price of $0.23. The WAX price forecast for 2024 also suggests an average price of $0.19.
WAX Price Prediction 2025
Our WAX price prediction 2025 suggests WAX coin could achieve a maximum value of $0.33. The digital currency is projected to attain a minimum price of $0.27 and an average value of $0.28.
WAX Price Prediction 2026
Our WAX price prediction 2026 is a maximum price value of $0.48 and a minimum value of $0.39. The average forecast for the same year is $0.41.
WAX Price Prediction 2027
Our WAX price prediction 2027 is that the price of WAX WAXP may hit a maximum coin value of $0.69 and attain an average price of $0.59. The minimum price for the cryptocurrency is estimated to be $0.56 before the end of 2027.
WAX Price Prediction 2028
Our WAX price prediction 2028 is a maximum price of $0.99 and a minimum price of $0.82.The average price forecast for the year 2028 is $0.84.
WAX Price Prediction 2029
Our WAX price prediction 2029 is a minimum price of $1.11. Later, the price may grow to attain an average price of $1.15 and $1.40 as WAX’s highest price.
WAX Price Prediction 2030
Our WAX price prediction 2030 is that WAX cryptocurrency may attain a minimum value of $1.65 and later hit a maximum price of $1.96. The average forecast price is estimated to be $1.69.
WAX Price Prediction 2031
Our WAX price prediction 2031 expects WAXP to attain a maximum price of $2.86 and an average price of $2.37. WAX is anticipated to fall to a minimum price of $2.30 by the end of 2031.
Wallet Investor WAX Price Prediction
According to Wallet Investor, WAX is a bad long-term investment as the site has estimated an average price of $0.0015 by the end of 2022. According to their WAX price predictions, the digital asset could fall to as low as $0.001, a decline of over 87 percent from the current Ren price by 2025. They expect the WAX coin to continue falling in the future, as their long-term predictions indicate that WAXP will crash in the future and may not recover.
DigitalCoinPrice WAX Price Prediction
DigitalCoinPrice estimates WAXP could be worth $0.10 by the end of December 2022 and $0.20 by mid-2023. The site suggests the coin will be worth $0.37 in 2025. The website’s WAX price prediction for 2027 stands at an average of $0.42 and suggests the coin will continue on a general year-on-year uptrend, making a WAX price prediction for 2030 of $1.21.
PricePrediction.net WAX Coin Price Prediction
PricePrediction.net has a quite bullish outlook on WAX’s future prices as they project the WAX cryptocurrency to attain new highs. The website estimates WAX coin will end the year 2022 on a bullish note, reaching a maximum price of $0.99. In the long-term prospects, they suggest the WAX coin will reach a maximum trading price of $0.69 by 2027, and by 2030 WAX will be trading at $1.96 as the highest price.
WAX Price Forecasts by Industry Influencers
The long-term trend for wax tokens is likely to be good, and industry experts and crypto influencers usually agree. According to a market analyst who goes by the username Crypto Vault with 18.2k YouTube followers: HERE’S WHY WAXP WILL X5000 AFTER THIS DATE – WAXP PRICE PREDICTION 2023 & ANALYSES.
According to Youtube-based market analysts, Crypto Vault believes WAX is set to surge in 2023, according to their latest prediction. Crypto forecasts are available on many different platforms. Despite the fact that certain cryptocurrency analysts have proven themselves to be reliable authorities. It’s challenging for novice investors to follow changes in the bitcoin market, and it’s practically impossible to forecast the future accurately.
Conclusion
According to the developers, WAX offers a number of essential features that set it apart from other products. The WAXP token will be a successful investment for a number of factors, including the sizable WAXP community, solid foundations, and synergies with other enterprises.
The WAX platform is making headlines with better mass adoption than GMT and other top-ranking gaming cryptocurrencies. The coin is one of the most undervalued in the gaming space and has the potential to surge in the next bull run. WAX also claims that by using a Delegated Proof-of-Stake (DPoS) consensus mechanism, its platform is 125,000 times more energy-efficient than Ethereum 1.0 and Bitcoin.
To further establish itself as an energy-conscious enterprise, the crypto has announced plans to release “carbon offset vIRL NFTs.” Collectors can have trees planted for every dollar spent, it says.
The Wax Studios community has recently announced they are thrilled to receive $10 million funds from OKX Blockdream Ventures funds to join them on their journey to take over the #GameFi & #NFTs space! #PlayToEarn.
According to its website, WAX sees 500,000 unique daily visitors and 23 million daily transactions.
Technical analysis and forecast data indicate a bearish sentiment for the near term, but long-term investors should expect a bullish sentiment and a profitable investment option. Since the cryptocurrency market is highly volatile, it is impossible to provide a precise WAX prognosis. Before making investment decisions, you ought to conduct your own research.
from Price Prediction – Cryptopolitan https://ift.tt/7VkcH2q
Comments
Post a Comment