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What is WAX (WAXP)?

WAX basic info

Name:WAX
Ticker:
Introduction:

What Is WAX?

WAX, or Worldwide Asset eXchange, is a blockchain platform and cryptocurrency specifically designed for trading virtual items such as in-game assets, digital art, and other collectibles. Launched in 2017 by the founders of OPSkins, WAX aims to create the largest peer-to-peer marketplace for digital assets, focusing on decentralization, interoperability, transparency, and efficiency. It has gained immense popularity in the gaming and NFT communities due to its user-friendly approach and its focus on virtual item trading and fractional ownership.

WAX is a carbon-neutral blockchain, making it a distinctive and environmentally friendly choice in the blockchain ecosystem. It is hyper-focused on video games and virtual collectibles, providing a decentralized marketplace where users can trade virtual items directly without intermediaries.

Resources

Whitepaper: https://github.com/worldwide-asset-exchange/whitepaper

Official Website: https://www.wax.io/

How Does WAX Work?

WAX operates using a Delegated Proof of Stake (DPoS) consensus mechanism, which is known for its speed and scalability, allowing for the efficient management of block production. In this system, WAX token holders use their tokens to vote for WAX Guilds, who are responsible for producing blocks on the WAX blockchain. This mechanism ensures that the blockchain is secure and transactions are processed swiftly, with a block being produced every thirty seconds.

The platform is also fully compatible with EOS, enabling developers to easily build and deploy applications on the WAX blockchain using EOSIO software. WAX provides a suite of tools and services such as WAX Cloud Wallet, WAX Creator, WAX ExpressTrade, and WAX Random Number Generator to help developers create engaging and immersive experiences for users. It also supports vIRLs, patented NFTs that can be redeemed for real-world products and services, offering dynamic functionality including app-video game integrations, marketing tools, and V-commerce capabilities.

WAX has introduced the world's first carbon-neutral NFTs, known as vIRL NFTs, which are linked to physical objects and are carbon offset. This initiative aligns with WAX's commitment to reducing its carbon footprint and achieving carbon-negative status. The platform also allows for the creation and trading of virtual items, which can be transferred across different games and platforms, providing users with increased flexibility and utility for their digital assets.

What Is WAXP Token?

WAXP is the native token of the WAX blockchain, serving various functions including paying transaction fees, purchasing virtual items, and participating in governance decisions on the network. It is used as a payment and trading token, allowing users to purchase virtual goods on WAX. WAXP is also the reward for staking or producing blocks, and it can be traded or purchased on major exchanges such as Bitget. The token is essential for securing the blockchain in proof-of-stake and is used to pay for fees when creating and using smart contracts.

WAX's Impact on Finance

WAX's innovative approach to virtual item trading and its focus on gaming and NFTs have positioned it as a leader in the blockchain industry, potentially revolutionizing e-commerce and gaming industries. By enabling seamless and secure trade of digital assets, WAX provides a practical framework for future projects in the financial sector, particularly in the realms of decentralized finance (DeFi) and NFT marketplaces.

The platform's emphasis on user-friendly experiences and its ability to support fractional ownership have made it accessible to a broader audience, allowing more users to participate in the ownership and trading of high-value items. WAX's commitment to environmental sustainability through carbon-neutral NFTs also sets a precedent in the industry, contributing to its notoriety and appeal to environmentally conscious investors and users.

What Determines WAX's Price?

The value of WAX token (WAXP), much like other tokens, is shaped by a multitude of elements, reflecting the intricate nature of the cryptocurrency market. Supply and demand on various platforms, including cryptocurrency exchanges like Bitget where it can be acquired and traded, are fundamental in determining its price. When there’s a surge in demand for WAXP, often spurred by encouraging cryptocurrency news or emerging trends in the cryptocurrency market, its value is likely to escalate. On the flip side, if the market is flooded with WAXP or it encounters unfavorable news or developments, its value is inclined to diminish.

Market sentiment, fueled by cryptocurrency enthusiasts, influencers, and connoisseurs, is another pivotal factor in shaping the value of WAXP. Discussions, analyses, and predictions within the crypto community and by cryptocurrency experts can significantly sway investor sentiment and, subsequently, the value of WAXP. Moreover, the overarching conditions of the cryptocurrency market, encompassing market volatility, regulatory landscapes, and the level of cryptocurrency adoption, can also impact WAXP’s value. For example, broad acceptance or positive regulatory developments can boost WAXP’s value, whereas restrictive regulations or a downturn in the crypto market can lead to a decline. Those contemplating investing in WAXP are encouraged to stay informed about the latest in cryptocurrency news, events, and trends and to seek advice from seasoned experts to determine whether WAXP is a sound investment looking forward to 2023 and beyond.

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Current price:
All-time high:$5.01
All-time low:$0.01596

WAXP supply and tokenomics

Circulating supply:3,645,516,800 WAXP
Total supply:4,304,838,214.54 WAXP
Max supply:0 WAXP
Market cap:$155.04M
Fully diluted market cap:$183.08M
Tokenomics:

Uniqueness

WAX features a WAXP-to-Ethereum ( ETH ) bridge that allows WAXP token holders to convert their tokens into WAXE, which is an Ethereum-based ERC20 utility token.

Users willing to participate in WAX tokenomics need to burn their WAXP tokens in order to get WAXE through the Ethereum bridge. They will then need to stake the WAXE tokens on the Ethereum distribution contract.

WAXG is an Ethereum-based ERC-20 governance token that is distributed to WAXE stakers. The distribution is based on a set timetable and is proportionate to the percentage of the WAX Economic Activity pool. The token holders can govern the allocation and distribution of economic value on the platform as a result.

The WAX Economic Activity pool is a smart contract that accumulates a percentage of generated WAX fees and can be converted into ETH for distribution to WAXE stakers. It can also be given to WAXG token holders that decide to burn the tokens they already have.

Token utility

The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals. The WAX Cloud Wallet is a gateway to premiere NFT collections, dApps, video games, marketplaces and more. It also makes buying, selling, trading and giving NFTs.

Links

Buy WAX for $1Buy WAXP now

What is the development prospect and future value of WAXP?

The market value of WAXP currently stands at $155.04M, and its market ranking is #356. The value of WAXP is not widely recognized by the market. When the bull market comes, the market value of WAXP may have great growth potential.

As a new type of currency with innovative technology and unique use cases, WAXP has broad market potential and significant room for development. The distinctiveness and appeal of WAXP may attract the interest of specific groups, thereby driving up its market value.

What will the price of WAXP be in 2025?
Based on WAXP's historical price performance prediction model, the price of WAXP is projected to reach $0.05857 in 2025.
What will the price of WAXP be in 2030?
In 2030, the WAXP price is expected to change by +1.00%. By the end of 2030, the WAXP price is projected to reach $0.08613, with a cumulative ROI of +107.68%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of WAXP and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is WAXP worth investing or holding? How to buy WAXP from a crypto exchange?

If you want to buy WAXP, the following information may be helpful for your investment decisions:
In the last 7 days, the price of WAXP has fallen by -18.27%, leading to negative returns for most WAXP investors. The market is currently pessimistic about the price trend of WAXP.
It is important to note that the current price of WAXP has retreated by -99.15% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether WAXP is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in WAXP or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of WAXP, if you want to buy or sell WAXP, you can consider Bitget for your trading needs. The best place to buy WAXP is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in WAX has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy WAX. Here's a step-by-step guide on how to buy WAX on Bitget.

How to get WAX through other methods?

Using cash to buy WAX is not the only way to obtain WAX. If you have the time to spare, you can get WAX for free.
Learn how to earn WAX for free through the Learn2Earn promotion.
Earn free WAX by inviting friends to join Bitget's Assist2Earn promotion.
Receive free WAX airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to WAX through Bitget Convert, Bitget Swap, or spot trading.

What is WAX used for and how to use WAX?

The use case of WAX may expand as the crypto market and the project itself develop. Currently, you can use WAXP to achieve the following goals:
Arbitrage by trading WAXP: Since WAXP is a frequently traded cryptocurrency, the price of WAXP is always fluctuating. Earn more WAXP by buying low and selling high on the exchange. Bitget spot market provides a variety of WAXP trading pairs to fully meet your needs.
Earn by staking WAXP: You can also generate income through financial management methods such as staking WAXP or lending WAXP. Bitget Earn offers a variety of financial products designed to help you earn more income from your WAXP.
Send or pay WAXP: If you want to give WAXP to your friends, a charity, or a fundraiser, or you want to pay someone with WAXP, you can quickly and easily send WAXP to the recipient through their payment address.
You can also go to the official website of the WAX project to learn more about the use cases of WAXP. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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