{"id":304974,"date":"2021-07-22T01:05:00","date_gmt":"2021-07-21T22:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/record-network-activity-and-a-second-nft-boom-send-wax-price-higher\/"},"modified":"2021-07-22T01:05:00","modified_gmt":"2021-07-21T22:05:00","slug":"record-network-activity-and-a-second-nft-boom-send-wax-price-higher","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/record-network-activity-and-a-second-nft-boom-send-wax-price-higher\/","title":{"rendered":"# Record network activity and a second NFT boom send WAX price higher"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f74317c90d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f74317c90d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/record-network-activity-and-a-second-nft-boom-send-wax-price-higher\/#Popular_brands_launch_NFT_projects_on_WAX\" >Popular brands launch NFT projects on WAX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/record-network-activity-and-a-second-nft-boom-send-wax-price-higher\/#WAX_boasts_the_highest_activity_of_any_network\" >WAX boasts the highest activity of any network<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/record-network-activity-and-a-second-nft-boom-send-wax-price-higher\/#Yield_opportunities_arrive_through_DeFi_and_staking\" >Yield opportunities arrive through DeFi and staking<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Record network activity and a second NFT boom send WAX price higher <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>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\u00a0972% surge in the price of Axie Infinity.\u00a0<\/p>\n<p>Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX \u2014 a protocol that claims to \u201cdeliver the safest and most convenient way to create, buy, sell, and trade virtual items to anyone, anywhere in the world.\u201d <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/f5172dd2-bd35-4711-9d72-645e49e12dda.png\"><figcaption style=\"text-align: center;\"><em>WAX\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/WAXUSD\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that between June 27 and July 9, the price of WAX&#8217;s WAXP token climbed 70% to a high of $0.151 before the Bitcoin-led sell-off pulled the price to its current value of $0.11. <\/p>\n<p>Three reasons for the rally in WAXP include the growing list of well-known brands launching collectibles on the project&#8217;s blockchain, an active network with fast transaction times and its integration to decentralized finance via cross-chain compatibility with the Ethereum (ETH) network. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Popular_brands_launch_NFT_projects_on_WAX\"><\/span>Popular brands launch NFT projects on WAX<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nostalgia can be a potent source for attracting an audience willing to engage with a product and WAX has managed to capitalize on this by partnering with somewell-known brands in the United States. <\/p>\n<p>Current partners include Atari, Topps, William Shatner and Capcom and a scroll through the project&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> feed shows recent campaigns for Street Fighter V <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> 2 cards and special edition Bratz collectibles. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"> Got an ultra-rare Shimmerin&#8217; vIRL\u00ae from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Bratz?ref_src=twsrc%5Etfw\">@Bratz<\/a> collection? Redeem it for an IRL <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/collectible?src=hash&amp;ref_src=twsrc%5Etfw\">#collectible<\/a>!<\/p>\n<p>Collectors can NOW trade in their digital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/tradingcards?src=hash&amp;ref_src=twsrc%5Etfw\">#tradingcards<\/a> for physical dolls. Bratz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/WAXPacks?src=hash&amp;ref_src=twsrc%5Etfw\">#WAXPacks<\/a> are still up for grabs on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24WAXP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WAXP<\/a>-powered secondary markets.<\/p>\n<p>Details:<\/p>\n<p>\u2014 WAX NFT Blockchain (@WAX_io) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WAX_io\/status\/1417514637856231424?ref_src=twsrc%5Etfw\">July 20, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Popular collectibles like baseball cards and Garbage Pail Kids, along with more modern <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s like Alien Worlds (TLM) offer users a variety of options that help attract a wide audience to the WAX network and this has resulted in an increase in on-chain activity. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"WAX_boasts_the_highest_activity_of_any_network\"><\/span>WAX boasts the highest activity of any network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A second sign of the growing strength of the WAX network can be found by looking at the 24-hour activity of the top-ranked blockchains, which WAX leads by a wide margin.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/63241e1a-7d0e-41c8-ba5d-918cbdb7eb7c.png\"><figcaption style=\"text-align: center;\"><em>Top 6 most active blockchain networks. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blocktivity.info\/\">Blocktivity<\/a><\/em><\/figcaption><\/figure>\n<p>Data from Blocktivity shows that the 24-hour activity on WAX is now higher than 17 million operations and more than double that of Stellar (XLM), which is\u00a0its closest competitor. WAX\u00a0 more than six times the amount of activity on EOS, the creator of the EOSIO software which is utilized by the WAX network. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">WAX surpassed 5 million user accounts ! Did you know the WAX blockchain has more users and daily TX than any other blockchain? Top that off with the fact that we are fully CO2-neutral, and it\u2019s safe to say our momentum is off the charts exciting. Thank you for your support! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/BmO1AAuDag\">pic.twitter.com\/BmO1AAuDag<\/a><\/p>\n<p>\u2014 WAX NFT Blockchain (@WAX_io) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WAX_io\/status\/1417167350223319050?ref_src=twsrc%5Etfw\">July 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Yield_opportunities_arrive_through_DeFi_and_staking\"><\/span>Yield opportunities arrive through DeFi and staking<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The recent introduction of a cross-chain bridge to the Ethereum network allowed WAX to of yield farming and staking on the protocol, which has been enhanced through the introduction of a cross-chain bridge to the Ethereum network. <\/p>\n<p>The WAX blockchain operates with a delegated proof-of-stake consensus model, meaning the simplest way that token holders can earn a yield on their holdings is by staking WAXP on the network to earn an annualized reward rate of 4.42% according to data from Staking Rewards. <\/p>\n<p><strong><em>Related<\/em><\/strong><em>: <\/em><em>Altcoin Roundup: Data shows social metrics surge ahead of DeFi and NFT price rallies<\/em><\/p>\n<p>Token holders can also convert their WAXP into WAXE, a version of the token that can operate on Ethereum and be used to participate in decentralized finance (DeFi) by providing liquidity on decentralized exchanges and yield farms. <\/p>\n<p>Through offering opportunities related to NFTs and DeFi, two of the hottest sectors in the cryptocurrency ecosystem, the WAX network is well-positioned to continue to attract new users and maintain a high level of on-chain activity. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/record-network-activity-and-a-second-nft-boom-send-wax-price-higher\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Record network activity and a second NFT boom send WAX price higher &#8221; 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\u00a0972% surge in the price of Axie Infinity.\u00a0 Another NFT-focused protocol that has been gaining&#8230;<\/p>\n","protected":false},"author":1,"featured_media":304975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvYTBiMzMzMDQtODkxYy00OTZiLWE3MWEtZGJmZDFlYjZiNWUzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,75302,74894,77892,74863,74891,95118,74880,86934,73785],"class_list":["post-304974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-altcoins","tag-blockchain","tag-crypto-collectibles","tag-cryptocurrencies","tag-ethereum","tag-nft","tag-transactions","tag-wax","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/304974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=304974"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/304974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/304975"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=304974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=304974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=304974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}