3 Reasons for the Altcoin WAXP Rally

What are the 3 reasons for the altcoin WAXP rally? How did altcoin WAXP get so strong? Here are the details...

Altcoin WAXP has gained strength after the NFT-focused project launched partnerships with companies that offer staking, yield farming, and pop culture collections. In the past weeks, when the price of Bitcoin has slumped below $30,000, NFTs have been on the agenda for the second time in 2021, with a 972% monthly increase in the price of Axie Infinity. WAX's WAXP token also became one of the stronger ones against Bitcoin.

Altcoin WAXP Rally Had 3 Reasons

Another NFT-focused protocol that has gained strength in recent months, aside from Axie Infinity, has been Worldwide Asset eXchange, also known as WAX. WAX is a global protocol that claims to provide everyone with the safest and most convenient way to create, buy, sell and trade virtual items. Between June 27 and July 9, WAX's WAXP token managed to surge 70% to reach $0.151, before the Bitcoin-led selloff drove the price to $0.11. The three reasons for this rally are; The project's growing list of well-known brands launching collections on Blockchain was an active network with fast transaction times and decentralized finance integration through cross-chain compatibility with Ethereum (ETH). WAX's NFT projects are as follows... 1.WAX has partnered with some well-known brands in the USA as well. Current partners include Atari, Topps, William Shatner and Capcom, and a stroll through the project's Twitter feed shows off the latest campaigns for Street Fighter V Series 2 cards and special edition Bratz collectibles. https://twitter.com/WAX_io/status/1417514637856231424?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1417514637856231424%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fkriptokoin.com%2Fbu-altcoin-sert-yukseliyor-iste-ayrintilar%2F At the same time, more modern games such as Alien Worlds (TLM) as well as popular collectibles such as baseball cards and Garbage Pail Kids offer users a variety of options that help attract a wide audience to the WAX ​​network. This provides an increase in on-chain activity. 2. A second indicator of WAX's growing strength can be found by looking at the 24-hour activity of the top-ranked Blockchains, with WAX leading by a wide margin. Data from Blocktivity shows that 24-hour activity on WAX is now more than 17 million transactions, more than double that of its closest competitor, Stellar (XLM). WAX is more than six times the amount of activity in EOS, the creator of the EOSIO software used by the WAX ​​network. 3. The recent introduction of a cross-chain bridge to the Ethereum network allowed WAX to yield farming and staking on the improved protocol by adding a cross-chain bridge to the Ethereum network. The WAX ​​Blockchain operates on a represented PoS consensus model, meaning that the simplest way for token holders to earn a return on their holdings is to stake WAXP to achieve an annual reward rate of 4.42% according to Staking data.