Wax Crypto: A Smart Investment Move?

Worldwide Asset Exchange (WAX) is a decentralised platform that enables individuals to operate a fully functioning virtual market with zero investment in payment processing, infrastructure, or security. WAXP is the native cryptocurrency of the WAX platform and it allows users to buy and sell virtual goods in video games. WAXP has been described as a good investment due to its low price, the growing popularity of NFTs, and its potential for high returns. However, WAX is considered a small-cap cryptocurrency and is therefore a high-risk investment.

WAX coin's utility in the NFT marketplace

WAX stands for Worldwide Asset Exchange. It is a decentralized platform that enables individuals to operate a fully functioning virtual market with zero investment in payment processing, infrastructure, or security. The WAX platform offers a powerful and user-friendly environment for creating and trading digital collectibles, serving as a bridge that connects creators, collectors, and developers.

The WAXP token is the primary medium of exchange used to buy and sell digital collectibles on both primary NFT sales and secondary markets. WAXP seamlessly powers transactions, ensuring a smooth and secure experience for creators, collectors, and traders.

One of the key advantages of the WAX platform is its ease of use. Users can simply create a WAX Cloud Wallet (WCW) account using just a username and password or their social media account. With just two clicks, users can start buying, selling, and trading WAX NFTs. This low barrier to entry has made WAX one of the most active blockchains for NFT transactions.

WAX also offers instant payments and provides a global marketplace along with the advantages of blockchain technology. The platform is built to handle the demands of blockchain gamers and NFT collectors, with over 15 million users and 23 million transactions per day.

The WAX Blockchain provides a rich ecosystem for discovering, owning, and trading digital collectibles. It allows users to unlock achievements, trade in-game items, and turn their gaming skills into real-world value. With WAX, virtual victories have never been more rewarding.

WAX's market capitalization

WAX stands for Worldwide Asset Exchange and is a decentralised platform that enables individuals to operate a fully functioning virtual market with zero investment in payment processing, infrastructure, or security. The platform is built on blockchain technology and is designed for the 400 million online players who are already buying, collecting, and selling game items.

WAX's market capitalisation, or market cap, is a measure of the total market value of its circulating supply. As of September 1, 2024, WAX had a market cap of $101 million, based on its circulating supply of 3 billion coins. Its market cap ranked it at #275 among all cryptocurrencies.

As of September 24, 2024, WAX had a market cap of $126,571,133 and was ranked at #303. Its circulating supply was 3,499,546,209 WAXP coins, and its price was $0.036168 USD.

The market cap of WAX can be calculated by multiplying the current price of WAXP by its circulating supply. The market cap refers to the total market value of a cryptocurrency's circulating supply and is similar to the stock market's measurement of multiplying the price per share by the number of shares readily available in the market.

The fully diluted valuation (FDV) of WAX is a theoretical representation of the maximum market cap, assuming the maximum number of WAXP tokens are in circulation. As of September 1, 2024, the FDV of WAX was $122.9 million, based on a total supply of 3.8 billion WAXP tokens.

The market cap of WAX provides a measure of the total value of the cryptocurrency and can be used to compare its value to other cryptocurrencies.

WAX's price volatility

The WAX price prediction for 2025 is estimated to be between $0.029785 and $0.074964. This indicates that WAX could gain up to 143.51% by 2025 if it reaches the upper price target.

Looking further ahead, the WAX price prediction for 2030 is projected to be between $0.011647 and $0.086659. This suggests that WAX could gain up to 181.50% by 2030 if it reaches the upper price target.

It's worth noting that the WAX price forecast is based on historical price movements and technical indicators. The current sentiment is bearish, with the Fear & Greed Index standing at 51, indicating a neutral position.

When considering WAX's price volatility, it's important to remember that cryptocurrency prices are subject to high market risk and price volatility. The WAX market is relatively small compared to traditional markets, so the actions of "whales" (entities and individuals controlling large amounts of WAXP) can significantly impact its price movements.

Additionally, WAX's price is influenced by supply and demand dynamics, which can be affected by fundamental events, regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events.

In summary, while WAX's price volatility offers potential for gains, it also carries significant risks. It's crucial for investors to carefully consider their investment experience, financial situation, and risk tolerance before making any investment decisions.

WAX's trading volume

WAXP tokens can be traded on centralised crypto exchanges. The most popular exchange to buy and sell WAX is LBank, where the most active trading pair is WAXP/USDT, with a 24-hour trading volume of $2,114,435.32. Other popular options for trading WAX include Upbit and OKX.

The daily trading volume of WAX (WAXP) is $10,858,758.77 in the last 24 hours, representing a 21.10% increase from the previous day and signalling a recent rise in market activity. In the past, WAX has seen higher trading volumes, with a 24-hour trading volume of $7,375,560 USD on 24 September 2024.

The price of WAX (WAXP) is calculated in real-time by aggregating the latest data across 37 exchanges and 53 markets, using a global volume-weighted average formula. The current price of WAX (WAXP) is $0.03574, with a 24-hour range of $0.03712. The price has decreased by 1.70% in the last 24 hours and increased by 16.10% in the past 7 days.

Compared to other cryptocurrencies that started in 2017, WAX has above-average trading volume. The average volume for other coins launched in 2017 is $3 million, while WAX has a trading volume of $6 million.

WAX's potential as a hedge against inflation

WAX, or Worldwide Asset Exchange, is a decentralised platform that enables individuals to operate a fully functioning virtual market with zero investment in payment processing, infrastructure, or security. WAX Coin uses blockchain technology to allow the use of virtual goods in video games and to tokenise these virtual goods so they can be conveniently exchanged for cryptocurrency.

Additionally, WAX's utilisation of blockchain technology provides a level of transparency and security to transactions. Each transaction is backed by a smart contract, serving as a basis for trustworthy trade between sellers and buyers. This trustworthiness is essential when dealing with the potential impacts of inflation, as it provides a level of stability and confidence in the platform.

WAX also enables users to earn fees by facilitating and reviewing transactions, providing an opportunity to generate income that can help offset the effects of inflation.

While WAX has the potential to serve as a hedge against inflation due to its decentralised nature, broad reach, and secure transactions, it is important to note that all investments carry risks, and the performance of any investment can be affected by various economic factors, including inflation. Conducting thorough research and understanding the risks involved is essential before making any investment decisions.

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