WAX (WAXP) – Price Update and Platform Developments
- Worldwide Asset eXchange (WAX) completes the ETH cross-chain bridge, allowing WAX holders to stake on the protocol and partake in yield farming.
- WAX registers high daily activities compared to other blockchain projects. The platform records over 18 million transactions per day.
- The WAX platform will feature John Van Hamersveld NFT collection from 24 August.
Worldwide Asset eXchange, also WAX, is a blockchain platform designed to ensure simple and quicker e-commerce transactions while offering security to the participants.
The ‘smart’ contracts involved in the transactions serve as a mechanism for trustless trading between sellers and buyers. The WAX platform has its block time standing at 500 milliseconds. Moreover, clients access zero-fee events.
Also, WAX created multiple blockchain tools to facilitate building DApp marketplaces and NFTs. What about WAX’s recent actions?
Indeed, WAX has enjoyed money-making progress in July. The moves followed increased NFT activities. For now, WAX blockchain has its transaction activity per day at 18.2 million. That is over twice Stellar’s 7.67 million. Recently, the project launched a cross-chain link to the ETH’s network. That allows WAX users to stake in the protocol and take part in yield farming. Remember, the WAX protocol runs with a delegated PoS consensus. Moreover, users that stake on WAXP tokens earn annual rewards at a 4.42% rate.
The network plans to launch new NFTs before September.
The team declared incorporating the original John Hamersveld vIRL NFT. The marketplace will release the initial NFTs set on 24 August.
The protocol will have Outer-Space-Men NFT collections by the end of this month.
WAXP has seen impressive movements recently. Amid the week-long bullish narrative that saw the crypto market cap above $2 trillion, WAX increased in value before losing some of its gains.
According to a one-week price chart, WAXP started the week near $0.181 before surging to $0.1971 on 12 August. However, sell-offs saw the token falling to around $0.1861 today. The asset remains 2% lower since yesterday.
WAX boasts a large user base among cryptocurrency projects. If you want to participate in the growing NFT marketplace, you may care about WAX.
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