InstaForex

August 23, 2021

It's so solid! WAX (WAXP) Rockets 170% In One Day ?

 WAX is a custom-built blockchain, designed to make e-commerce transactions faster, easier and more secure for every individual involved.


Released in 2017 by William Quigley and Jonathan Yantis.


Blockchain WAX uses a delegated proof-of-stake (DPoS) consensus mechanism that is fully compatible with EOS for NFT, video games and collections.


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


Several NFT projects that will be carried out by WAX, one of them is ‘John ​​Van Hamersveld’ who will release his artwork on Blockchain WAX featuring 36 works of art on 24 August.


💀 Get ready for an unusual #NFT drop on WAX!


Next Tuesday at 1 pm EST, John Van Hamersveld will release #art on the WAX ​​#Blockchain featuring 36 BRAND-NEW art pieces in 6 jaw-dropping rarities.


🤯 Some of these #NFTs can be redeemed for exclusive physical goods. Details:


- WAX NFT Blockchain (@WAX_io) August 22, 2021


John Van Hamersveld is popular with his artwork for legendary musicians such as The Beatles, Jimi Hendrix, The Rolling Stones and others.


Let's take a look at the WAXP/USDT movement chart that is the focus of investors.



In today’s trading session, WAXP has soared aggressively producing over 170% jump by hitting the latest high of $ 0.49.


However, WAXP is seen as a long way from breaking the all -time high (ATH) previously recorded at the $ 5 price level.


From a technical point of view, WAXP is seen to remain in a bullish trend and is hovering over whether to make a correction or continue to rise even higher.


For further expectations, if WAXP remains with a bullish trend, the resistance level around $ 0.48 will be tested first before jumping more aggressively.


That level will be the determinant for WAXP to soar more aggressively and record the latest consecutive highs.


However, if WAXP returns with a bearish trend, the RBS (resistance become support) level around $ 0.19 will be tested first before continuing lower.


At the time of writing, WAXP is trading at a price level of $ 0.40 with a trading volume of over $ 1.8 billion in the last 24 hours.