Unmatched Staking Rewards: A New Challenger Rises with WAX Network

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 04 2024

Should l Buy WAXP?

WAX Network: WAX is a leading decentralized platform for digital collectibles, offering secure and transparent transactions through its eco-friendly blockchain technology, making it attractive to both NFT enthusiasts and investors.
MoonBag (MBAG): MoonBag features a structured presale strategy with high staking rewards of 88% APY, a generous referral program, and a transparent liquidity plan, positioning it as a compelling investment opportunity in the crypto market.

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Technical Analysis for WAXP

Technical Sentiment Analysis for WAX (WAXP). As of , WAX (WAXP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for WAXP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, WAXP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

WAX (WAXP) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0053	0.00596	0.00654	0.0072	0.00778	0.00844	0.00902
Fibonacci	0.00596	0.00643	0.00673	0.0072	0.00767	0.00797	0.00844

About WAXP

WAX (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS.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.To make this possible, WAX created a suite of blockchain-based tools which decentralized application (DApp) marketplaces and non-fungible tokens can be built upon.Services such as WAX Cloud Wallet, SSO and OAUTH support e-commerce operations, the latter being a native RNG service and a developer portal. WAX’s blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers. It also makes use of voting rewards to incentivize participation in the selection of block producers and improvement proposals.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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