- The Overview of WAX Ecosystem
- Features Of WAX
- What is WAX Coin?
- Technical Analysis Of WAXP
- WAX Price Predictions: 2023-2030
- WAX Coin Price Prediction 2023
- WAX Crypto Price Prediction 2024
- WAX Token Price Prediction 2025
- WAX Price Forecasts 2026
- WAX Price Prediction 2027
- WAX Price Prediction 2028
- WAX Price Prediction 2029
- WAX Price Prediction 2030
- Frequently Asked Questions
The Overview of WAX Ecosystem
The worldwide asset exchange known as WAX is one of the popular virtual currencies and most used layer-1 blockchain ecosystems globally, especially for non-fungible tokens, dApps, and video games. WAX allows its investing users to create, buy, sell, and trade different items worldwide. Its launch date is 2017.
Being the ‘king of the NFT market,’ WAX has successfully traded millions of NFTs from its partners. The WAX ecosystem consists of exchanges, WAX cloud wallets, games, blockchain services, marketplaces, DEX, patent portfolios, and intellectual property licensing.
Let’s have a look at our WAX overview and later WAX price prediction!
The major NFT partners of WAX include Funko, Atari, Sony Funimation, Topps, Capcom, and world-renowned entertainers. WAX has come forward with vIRL NFT, which is unique from other standard NFTs. With this functionality, users can hold dynamic functionality, including app/video game integrations and marketing tools. The V-commerce capability allows the vIRL NFT to link to a real-world item. The vIRL NFT is minted on an energy-efficient and carbon-neutral WAX blockchain.WAX was co-founded by William Quigley and Jonathan Yantis in 2017. Both are from OpSkin, one of the top online gaming companies. Since the inclusion of WAX, it has contributed a lot to digital commerce. Now WAX has approximately 8 million users in a month, and in terms of volume of transactions, WAX blockchain is placed on the top. With more than 15 million transactions a day, it is the most used wallet globally; compared to its competitor, WAX has 5 million accounts in use.
The major play-to-earn games such as Alien World, R-Planet, Kolobok Adventures, and Prospectors are associated with WAX, and users can access many of the DApps and NFT marketplaces with WAX. WAX was awarded Carbon Neutral Certification in early 2021 because it uses WAX’s Delegated Proof of Stake mechanism, which is nearly 1,25,000 times energy efficient at 0.00001% of the energy of PoW chains. In 2021 WAX released a series of Carbon Offset vIRL NFTs.
Features Of WAX
The WAX decentralized exchange allows customers to purchase goods with a global token. Traders can set up their marketplace in WAX, and the ecosystem will unite everyone and provide secured transactions and settlement services. The enormous liquidity of the system allows customers to buy the product at its best price.
WAX smart contracts provide a structure and obligation for all participants to transact through the WAX platform. It executes on time, and activities are stored on the blockchain with utmost transparency. WAX smart contracts reside on a WAX account. It has 12 characters along with a human-readable label. When one account sends transactions to another, these are handled by smart contracts residing on the target account.
If someone wants to list their game on a particular WAX site, the site owner will get a share of the listing fee. When a person buys the product, the site owner will get a share of the transaction fee. The peer-to-peer marketplace based on decentralized smart contracts on the blockchain eases the transaction process and provides easy settlement of the transactions. Delegated proof of stake algorithms helps to meet the huge demands of the markets.
The WAX lab is a worker proposal system of the WAX platform; it is where WAX projects have been approved after voting. Approved projects will benefit from the WAX labs fund. Guilds act as conforming nodes of the WAX platform. Guilds confirm transactions in the round-robin order. Each guild will concentrate on one platform or game. The clean and carbon-neutral initiative of WAX is unique from other blockchains.
WAX has started creating carbon offsets NFTs and partnered in climate care. Gamers need a third-party assistant for buying and selling games online. OpSkin has developed a method with all the constituents to help the gaming company earn more and expand the business with the best third-party assistance.
The following are the major reasons why blockchain games are built on WAX. They need speed and the ability to scale most cost-effectively. Since WAX has a proven transaction speed, Which handles enormous transactions in a second, there won’t be any delay complaints in WAX payments.
Transaction gas fees in WAX are very cheap compared to other blockchains. Only 2% of the sales price is taken as blockchain fees. Blockchain fees are nil for minting and gifting transactions. The average user base of WAX per day is in the range of 350000 to 450000. When the audience base is high, gaming platforms are interested in tying up with WAX.
Popular games such as Spinterlands and Alien World have almost 200k daily players. Data shows Bitcoin consumes approximately 120 terawatt-hours per year of energy, and most of the blockchain is doing the same, but WAX stands as an energy-efficient blockchain. By offsetting 211 tons of carbon, it claims WAX is not environmentally harmful. The W.A.S.P strategy of the WAX platform is to allow easy access to dApps and quick reach to customers.
W.A.S.P is the abbreviation of WAX blockchain + decentralized marketplace similar to Amazon + decentralized virtual item trading and generation + decentralized wallets (similar to PayPal). The microservice layer of WAX makes all the above possible smoothly and effectively, ensuring transactions’ safety. Increased demand for the NFT marketplace is one of the main reasons for the value rise in WAX, blockchain-based tools owned by WAX acquired high demand for the NFT marketplace decentralized applications.
The company has a strong stand in the NFT marketplace, which is expected to continue in the future. NFT is still considered to be at the early stage of development, so companies such as WAX, which has already created a brand name on NFT, can be benefited a lot in the future. Now it remains a pioneer in the NFT marketplace and good virtual trading.
What Is WAX Coin?
The native cryptocurrency of the WAX network is known with the ticker symbol WAXP. WAXP is used for staking, voting, and payment of all the services in the WAX platform. When the investment coin is staked, it is kept aside and stored there until the user claims it.
This increases the scarcity of coins. Users can reclaim the staked tokens, and it will give rewards over time. WAX considers staking as a contribution to the blockchain; unlike other tokens, WAXP can be staked without a transaction fee. WAX holders have the voting power for the governance of the ecosystem.
The higher the number of WAX token users holds, the higher the user’s voting power. The WAX token is used as a fee for transactions and messages but at a less amount. The WAX token has 18 decimal places. Hence, it can be used for micro-transaction settlements.
The WAX platform owns four types of accounts; three are performed by external agents, and one autonomously. WAXP token can be converted into WAXE; users can burn WAXP to collect WAXE. WAXE is an ERC-20 and can also be used in Ethereum – DeFi platforms. WAXG is the governance token of the investment platform. It is also an Ethereum-based ERC-20 token distributed to WAXE stakers.
There are mainly three types of voting on WAX, guild voting to vote for guilds, proxy voting, and worker proposal voting. DApps developers also benefit from staking their WAX tokens because it helps them reserve the system resources. WAXP is flexible since it is swapped easily. ICO has raised around 9,600,000 dollars in value of WAX tokens.
Technical Analysis Of WAXP
Digital coins have faced massive correction in the last year, and investors do not have much hope, even in 2023. Some altcoins are still lagging behind momentum from the hit of 2022; traders are not showing interest in these coins.
The current price of WAX (WAXP) is around $0.04222, with a market cap of $99,330,940. Circulating supply is 2,352,462,800 WAXP, 24-hour trading volume is $3,721,615. The highest price at which WAX WAXP was traded was $5.01 almost 5 years ago. The all-time low of WAX price equals $0.01596, which was in 2019.
Amid global cues, WAX (WAXP) exhibited a retracement in price levels. Since last year, WAXP price has shown a downfall with the formation of a strong bearish candle. In the beginning of last year, it had a price of $0.4, while currently its price is $0.04, which shows a downfall of 90%.
From technical analysis data, immediate resistance is placed at $0.156; if the WAXP price can break this level, it has to face the hurdle of $0.22. The next resistance is $0.28. Major resistance is placed at $0.344 level. If the WAX price drop continues, the WAXP price hits the support of $0.03, and investors can wait for the next support. Major support is placed at $0.01.
Currently, there is a huge correction observed in the WAX price, but still, there are chances for the coin price to rise in the short term.
The price chart’s technical analysis of major technical indicators shows that the relative strength index (RSI) is placed at 28.60, a sell sign. The MACD line is slightly below the signal line. Data shows that WAX (WAXP) started trading below its 20 EMA, 50 EMA and 200 EMA which shows lack of strength in the coin. 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.
WAX Price Predictions: 2023-2030
2022 was a breakthrough in the history of the crypto world. Major regulatory talks were in the discussion, which created a huge impact on the crypto market. The future of digital coins is constantly evolving; companies are bringing up advanced technology to become a part of the race.
WAX has broad application and utility; the long-term WAX forecast expects a good return in WAX (WAXP) price. But the price of WAX moves is highly correlated with the company’s performance, announcements, public attention, and revenue. The number of altcoins has been increasing day by day, strengthening future competition. Because of its unique characteristics, WAX has shown long-term earning potential.
WAX Coin Price Prediction 2023
WAX (WAXP) price prediction foretells a beginning at $0.03; a gradual rise is predicted. Still, nobody can guarantee the same; the year foresees a combination of rising and drop in the price of WAX. The maximum WAX WAXP price prediction for the end of the year is forecasted at $0.0986. The minimum price of WAX is expected at $0.0321 as per our WAX price prediction.
WAX Crypto Price Prediction 2024
WAX is predicted to begin at $0.087 in 2024; the future price anticipated for the year-end is $0.10, which means an increase in the price of WAX based on our analysis & WAX price prediction. While considering the WAX price prediction, the value has marked tremendous growth for the current price level. A maximum WAX price equals $0.12, and the minimum price for the year is $0.08 based on our WAX price prediction.
WAX Token Price Prediction 2025
Wax price prediction shows that the maximum WAX price for the year may be $0.15, and the lowest price may be $0.12. While the average price may be $0.135 for the year 2025. The WAX price may not rise back at the same rate at which it had fallen.
WAX Price Forecasts 2026
WAXP token will be considered a profitable investment option due to multiple factors like the huge community, strong fundamentals, integrations with other institutions, etc. Based on our WAXP price forecast, the coin value might reach the lowest price of $0.15. According to our analysis-based price predictions, the maximum value of the WAXP token might hit $0.20.
WAX Price Prediction 2027
The maximum predicted price of WAX is $0.22. Due to the plunge of the cryptocurrency world and other reasons, the token is expected to bounce to the resistance level only. This means WAX cryptocurrency cannot be considered a good investment as compared to other cryptocurrencies based on our WAX price prediction. The profit gains are very minimal.
WAX Price Prediction 2028
According to our WAX prediction, the coin will have a minimum, average and maximum value of around $0.22, $0.25, and $0.28, respectively.
WAX Price Prediction 2029
As per our analysis, it is anticipated that the coin may have an average value of $0.32 for the year. At the same time, the minimum and maximum values are anticipated to be around $0.30 and $0.34, respectively.
WAX Price Prediction 2030
Looking at the past performance, our WAX predictions indicate that the coin will have a maximum and a minimum value of around $0.42 and $0.48 by the time it is 2030. At the same time, the average value is expected to be around $0.45.