The NFT space has garnered a lot of attention in recent months, and cryptocurrencies operating in this sector have outperformed others.
WAX rallies 32% as demand for NFT increases
Worldwide Asset eXchange (WAX) is currently one of the major players in the cryptocurrency market. It is a blockchain and protocol token specially designed to make e-commerce transactions safer, easier and faster for all participants.
TheWAX has developed a suite of blockchain-based tools that support a wide range of decentralized applications, markets, and native non-fungible (NFT) tokens. It is one of the top performers in the cryptocurrency space, thanks to the high demand for NFT-focused coins and tokens. Over the past 24 hours, the WAX token has grown by over 30%, outperforming other major cryptocurrencies such as BTC, ETH, and others.
At the time of going to press, WAX is trading at $ 0.824 per coin. Despite the rally in recent weeks, WAX remains down more than 70% from the all-time high of $ 2.77 reached in January 2018. Last week, the Worldwide Asset eXchange reached second place in sales volume of NFT among all Layer 1 blockchains. WAX represents more than 15 million transactions per day, exceeding that of Ethereum in the process.
WAX could target $ 1 resistance level
WAX has rallied since the start of the year, and cryptocurrency could soar in the coming weeks. At time of going to press, WAX is trading at $ 0.824. Since the start of the year, WAX has added 2.129% to its value, making it one of the top performing coins in recent months.
Its technical indicators point to further gains for WAX, and the cryptocurrency could hit the $ 1 mark in the coming days and weeks. The strong performance of the Worldwide Asset Exchange in the NFT space over the past few months could be the key to the WAX coin’s comeback before the end of the year.
The NFT space is still in its infancy, and more investment and innovation will flow into the market. As a result, WAX and other NFT-focused coins have strong growth potential.