**Wax Price Surges as Bulls Aim Higher**
The Wax price has experienced three consecutive bullish sessions, with a 57% increase over the past week and a 35% increase in the last 24 hours. The surge in trading volume, up 795% to $320 million, indicates growing interest in the delegated proof-of-stake (DPoS) token. Currently ranked at position 108 on CoinMarketCap, with a market cap of $228 million, Wax is among today’s top gainers in the crypto market.
**Binance Futures Listing Boosts Wax Price**
The recent upward trend in the Wax price can be attributed to the news of its upcoming listing on Binance Futures. While Wax is already traded on Binance Spot, the addition of Binance Futures could bring significant liquidity to the token. Binance Futures announced that it will launch USDⓈ-M STPT and WAXP Perpetual Contracts on October 18, with up to 50x leverage. With a strong community of over 280k Twitter followers, Wax enthusiasts are excited about this listing.
**Increasing Value Locked on WAX Blockchain**
The total value locked (TVL) on the WAX blockchain has been steadily increasing, rising from $410,080 million on October 10 to around $628,691. This rise in TVL indicates growing investor interest and confidence in the network. As a result, it is expected to have a positive impact on the price of Wax’s native token, WAXP.
**Key Levels to Watch for Wax Price**
The recent rally in WAXP saw a 70% increase from the support level of $0.0435 on October 10 to a high of approximately $0.0343 on October 18. This rally has enabled the token to regain key support levels, including psychological levels and moving averages. Currently trading at $0.06759, a break above the immediate resistance level at $0.0677 could pave the way for further upward movement. The altcoin may then target the $0.07 psychological level, followed by the 100% Fibonacci retracement level at $0.0743.
**Positive Technical Indicators for Wax Price**
The upward-facing moving averages and the upward movement of the Relative Strength Index (RSI) indicate a positive outlook for the Wax price. The RSI at 87 suggests that buyers have control of the market, supporting the bullish thesis. On the downside, strong support levels are provided by the Simple Moving Averages and the demand zone between $0.055 and $0.050.
**WAXP Alternatives: Meme Kombat ($MK)**
While Wax has captured the attention of crypto investors, another cryptocurrency gaining popularity is Meme Kombat ($MK). This meme coin leverages Ethereum’s decentralized power to create an engaging gaming experience. The presale for $MK has already raised over $570,000 within a month of its launch, indicating strong performance. With a current price of $1.667, $MK can be purchased using ETH, USDT, or BNB on the Binance Smart Chain. Token holders can also stake their tokens and earn an impressive annual percentage yield (APY) of 112%. Crypto Gains predicts that $MK has the potential to provide a 10x return on investment.
**Hot Take: Wax Price Soars with Binance Futures Listing and Increasing Investor Interest**
The Wax price has experienced significant gains in recent days, driven by news of its listing on Binance Futures and increasing investor interest in the network. With a surge in trading volume and rising total value locked on the WAX blockchain, Wax’s native token, WAXP, is attracting attention from crypto enthusiasts. Technical indicators support a bullish outlook for the Wax price, with potential for further upward movement. Additionally, Meme Kombat ($MK) is emerging as an alternative investment option, with its unique gaming experience and promising returns. The next few months are expected to be exciting for both Wax and $MK as they continue to capture the crypto market’s attention.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
