Record network activity and a second NFT boom send WAX price higher

Record network activity and a second NFT boom send WAX price higher

WAXP price appears to be gaining strength after the NFT-focused project introduced staking, yield farming and partnerships with companies that offer pop culture collectibles. Just a few days before Bitcoin (BTC) price plunged below $30,000, the NFT sector was dominating headlines for the second time in 2021, led by a month-long 972% surge in the price of Axie Infinity. Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX — a protocol that claims to “deliver the safest and most convenient way to create, buy,....


Related News

Dogecoin Network Activity Remains Flat, Threatens To Send Price Lower

Dogecoin (DOGE) is at risk of a significant price decline due to its network activity, which has remained flat for a while now. Despite a bullish spike in some other metrics, this on-chain metric remains vital for the foremost meme coin’s growth.  Dogecoin Network Activity On The Low Data from the market intelligence platform IntoTheBlock […]

Bitcoin Sees Record Number of Active Users as Price Almost Hits $20K

As bitcoin set a new price high closer to $20,000 on Tuesday, the network also saw record-breaking user activity.

Ethereum Sees Contract Boom In 2025, Setting Stage For $5,000 Rally

Although Ethereum (ETH) failed to break the $5,000 mark on August 24 – pulling back from a new all-time high (ATH) of $4,956 – the second-largest cryptocurrency by market cap may soon cross that milestone, driven by booming new contract activity. Ethereum New Contract Activity Booming – Will Price Follow? According to a CryptoQuant Quicktake post by contributor PelinayPA, a sharp rebound in Ethereum contracts could be seen in 2024 and 2025. This year specifically, new contracts surged dramatically as ETH price climbed beyond $4,500. The CryptoQuant contributor highlighted....

Optimism Network Activity Metrics Approach Record Levels, Propelling OP 9% Hi...

Layer 2 (L2) scaling solution Optimism reported a series of strong network metrics in the first quarter (Q1) 2024, with its native OP token surging 9% on the back of this bullish momentum. Optimism Sees Higher Activity And Rising Transaction Fees According to a recent Messari report, Optimism’s circulating market cap increased 11% quarter-over-quarter (QoQ) to $3.7 billion, while its fully diluted market cap rose 1% to $15.7 billion.  Despite the broader crypto market rally, with Bitcoin (BTC) and Ethereum (ETH) gaining 69% and 53% QoQ, respectively, OP’s market cap ranking....

Ghost Town Vibes: Bitcoin Soars On ETFs, Not Users – Expert

Bitcoin this week reclaimed the $94,000 region, but the party may be lacking one key ingredient: real users. The cryptocurrency network is “like a ghost town” even with the record price increase, a crypto expert said. Related Reading: Ethereum ‘Heating Up’ – Address Activity Jumps Nearly 10% In 2 Days Bitcoin Surges In Price—Yet Network Remains Eerily Quiet A recent report by CryptoQuant analyst Maartunn shows a dramatic disconnect between Bitcoin’s rocketing price and its underlying network activity. “The Bitcoin network is a ghost town,” the analyst....