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 is a blockchain released in 2017 and 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 is $0.099735 with a 24-hour trading volume of $8,328,955. WAX is up 1.67% in the last 24 hours. The current CoinMarketCap ranking is #129, with a live market cap of $210,285,925. It has a circulating supply of 2,108,446,139 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 the 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 that have 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, the token has generally maintained a positive percentage ROI (Return on Investment) since its launch. 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 which subsequently increases the price of Wax (WAXP).
The current market cap of WAX token 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 perform a thorough analysis of 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, the 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 bosts 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
William Alligator trend lines have been flattening out for the last two weeks suggesting that WAX is consolidating after a continuous drop since April. The coin currently has little price momentum with no likelihood of a price reversal.
Wax Price Predictions by Authority Sites
The site uses machine learning and artificial intelligence (AI) to provide the WAX price forecast. The AI rates WAX’s historical data index A+ and comments that it would make a bad one-year investment. The WAX price will drop by 93.19% to reach $0.00662 in July 2023. The site indicates a bearish market price prediction for the coming two weeks, and WAX will fall to $0.0938 at the end of the period. The negative trend will continue in 2024 at -93.05% ROI and drop to -95.96% in 2025. The average forecast price will drop further in 2026 at -98.89% and -99.54% in 2027.
This site uses linear and polynomial regressions to provide the WAX price forecasts. The WAX cryptocurrency will sell at an average price of $0.1429397 in August. The price will drop gradually to $0.1347608 at the end of the year. In 2023 WAX will sell at an average price of $0.1309221 in January and $0.166579 in December. The site provides a bullish WAX price prediction from 2024 to 2025. In 2024, WAX’s average trading price will be $0.1722368 in January and $0.189555 in December. In 2025, WAX’s average trading value will be $0.1930296 in January and $0.2248015 in December.
Digital coin price
According to the Digital coin price forecast system, WAX’s current price is down over 75% this year and will trade sideways for the second half of 2022. The average trading price for August is $0.14, reaching the highest in November at $0.15. In 2023, WAX will sell at an average price of $0.14. It will reach a maximum price of $0.16 and a minimum price of $0.13. In 2025, WAX will sell at an average price of $0.19. It will reach a maximum price of $0.21 and a minimum price of $0.17. In 2030, WAX will sell at an average price of $0.45. It will reach a maximum price of $0.47 and a minimum price of $0.43.
WAX WAXP Price Prediction 2022
WAX price prediction for 2022 is $0.12. Wax market fluctuations have been wanting, but on the brighter side, the Wax network represents 42.72% of all game-fi participants. The ratings are attributed to trending games in its playlist. WAXP will sell between a minimum price of $0.12 and a maximum of $0.14.
WAX WAXP Price Prediction 2023
WAX price prediction for 2023 is $0.17. WAX boasts of over 500K daily unique users with over 23M daily transactions. Crunching these numbers indicates the platform’s high value to its users; by 2023, WAX will be commonplace among gamers. Wax will be on a bullish trend, with its average price ranging from a minimum price value of $0.17 to a maximum price of $0.21.
WAX WAXP Price Prediction 2024
WAX price prediction for 2024 is $0.24. The Wax ecosystem has over 30K decentralized applications providing value to the growing user base. The platform also boasts over 13M accounts. While the platform is yet to hit the mainstream, it has a good reputation; its average price will range between a minimum value of $0.24 and a maximum value of $0.29.
WAX Price Prediction 2025
WAX price prediction for 2025 is $0.35. The positive long-term trend males Wax a profitable investment option offering tremendous growth. With many Wax projects in the pipeline, Wax is associated with big brands like Atari, Matari, Streetfighter, Saw, Funko, Bratz, Weezer, Hasbro, and Sony Pictures. WAX will trade between a maximum price level of $0.41 and a minimum of $0.34.
WAX Price Prediction 2026
WAX price prediction for 2026 is $0.52. WAX is the one-stop place for brands that want to develop games in the NFT space. The platform features a WAX cloud wallet, an NFT services suite, a patent portfolio, and a worldwide asset exchange. WAX offers an easy transition into a crypto play and earn model; the coin’s value in the cryptocurrency market will reach its lowest price at $0.50 and highest at $0.60.
WAX Price Prediction 2027
WAX price prediction for 2027 is $0.73. The ecosystem introduced carbon offset virl NFTS. These NFT provide ownership to tangible assets; the NFTs can be traded across parties and redeemed for the assets to be transferred to users. Such features and marketing tools promote WAX; the WAXP price will range from $0.71 to $0.87.
WAX Price Prediction 2028
WAX price prediction for 2028 is $1.09. The WAX platform offers its developers ready tools to upgrade and join the crypto world. Other than players, WAX is a platform for NFT collectors, video games, and dapps. WAX value in the crypto market will range between a maximum value of $1.22 and $1.05.
WAX Price Prediction 2029
WAX price prediction for 2029 is $1.58. WAX tokenomics incentivizes its community for participation with Ethereum and WAXG governance tokens. These models attract users to the platform because it’s a good investment. WAX market capitalization will rise, and the price will range between $1.54 and $1.81.
WAX Price Prediction 2030
WAX’s price prediction for 2030 is $2.36. The WAX ecosystem is mindful of the environment and was rated Carbon emission-free by ClimateCare. The platform uses 220,000 less power than its closest competitor and NFT economics that support reforestation. Wax technical analysis indicates it will sell for between $2.30 and $2.62.
WAX Price Prediction 2031
WAX price prediction for 2031 is $3.50. The WAXP price is extrapolated to continue rising past the decade; however, it is prudent to note that the crypto market is highly volatile and can affect both WAX holders and new investors. The prediction is not investment advice. The coin will likely sell between $3.41 and $3.97.
Wax Price Predictions by Industry Influencers
Crypto Vault gives WAX technical analysis and their opinion on whether you should buy WAX.
A wide range of platforms offers crypto forecasts. Despite the fact that some crypto analysts have established themselves as trustworthy experts. It’s hard for new investors to keep track of cryptocurrency market movements, and it’s nearly impossible to predict the future with accuracy.
Although no one in the business may guarantee to precisely predict future coin prices, experts have delivered respectable price predictions over time.
Wax tokens are expected to have a positive long-term trend, with industry experts and crypto influencers generally supporting the predicted upswing. According to Crypto addiction analysts who boast 35.2k subscribers on youtube say (WAXP) IS THE BITCOIN OF NFT WORLD! 📈 200X POTENTIAL! and the price of Wax will increase over time as the NFT industry grows.
Numerous reasons, such as the large WAXP community, strong foundations, and synergies with other organizations, will ensure that the WAXP token is a successful investment.
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 will average at $0.17 in 2023 and cross the $1 mark in 2028.
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.
This is the most recent forecast for WAX we have. With a good trend, it appears that WAXP will close the year on a high note. Those are just a few of the technical evaluations and observations produced by our platform’s renowned specialists and experts.
Disclaimer. The information provided is not trading advice.
The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.