WAXP will boom boom in coming days.
Its all time high price was $5.0122
WAX (Worldwide Asset eXchange) is a blockchain platform tailored for e-commerce, decentralized applications (dApps), non-fungible tokens (NFTs), gaming, virtual worlds, and unique collectibles. Its native cryptocurrency, WAXP, facilitates transactions within this ecosystem.
WAX employs a Delegated Proof of Stake (DPoS) consensus mechanism, enabling token holders to vote for delegates who validate network transactions. This approach ensures rapid and energy-efficient transaction confirmations, making WAX significantly more environmentally friendly compared to traditional Proof of Work (PoW) blockchains like Bitcoin.
A distinctive feature of WAX is its virtual in-real-life (vIRL) NFTs, which bridge digital and physical assets. These NFTs can be traded multiple times digitally but redeemed physically only once, reducing environmental waste associated with physical collectibles.
WAXP tokens are integral to the platform's operations, covering transaction fees, staking for network security, and participation in governance decisions. Token holders can stake their WAXP to earn rewards and vote on proposals affecting the network's future.
As of June 2024, WAX has facilitated over 23 million daily transactions, supported 700,000 daily active users, and hosted more than 30,000 dApps. Its total supply stands at approximately 4.1 billion WAXP tokens.
In terms of market performance, WAXP's price has experienced fluctuations. Analysts have projected that, depending on market dynamics and the growth of the NFT sector, WAXP could reach between $0.05 and $0.07 over the next year, with potential to hit $0.10 in the longer term. However, given the inherent volatility of the cryptocurrency market, these predictions should be approached with caution.
Overall, WAX's focus on NFTs and digital asset trading, combined with its energy-efficient consensus mechanism and innovative features like vIRL NFTs, positions it as a notable in the blockchain space.