Market cap
$130.3M
Volume (24h)
$6.2M
Circulating supply
2.3B WAXP
All time high
$5.01
Price change (1h)
Not enough data
Price change (24h)
Not enough data
Price change (7d)
Not enough data
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The current price is $0.05651 per WAXP. WAX is 98.87% below the all time high of $5.01.
The current circulating supply is 2,296,187,958.598 WAXP.
WAX stands for Worldwide Asset Exchange. According to the website, WAX is the world’s most proven eco-friendly blockchain network. The WAX blockchain facilitates the trading of non-fungible tokens (NFTs), collectibles, and video games on the network. WAX is a platform that claims to provide everything that a brand needs while launching a successful non-fungible token collection. From games and decentralized applications (DApps) to exchange and marketplace, WAX’s motive is to be one platform for all digital needs.
The pre-existing digital market working on blockchain networks is suffering from hindrances. One such barrier is if the blockchain is ready to handle the number of users already prepared to use it. Also, the speed of transactions per second is essential for better scalability. Further, extra room for significant growth of the platform is also aimed at. Thus, WAX was designed to solve a specific set of problems in the digital goods market.
The WAX platform solves the problem for various entrepreneurs and businesses who wish to generate an active income. The platform also helps such developers to participate in the growing global digital marketplace. According to the whitepaper, the WAX platform uses the WASP strategy, which helps facilitate decentralized applications and helps reach the desired customers. The WAX protocol includes its native blockchain, a decentralized marketplace, decentralized virtual item trading, and an asset generation platform. The protocol also includes a decentralized wallet where users can keep and save their cryptocurrencies and transaction information.
The whitepaper also states that the WAX blockchain combines a layer of services on the platform, which provides customers with a full suite of blockchain-based tools. Developers can use such tools for creating and trading virtual items with anyone around the world. The WAX protocol uses the delegated proof-of-stake (DPoS) consensus mechanism. This helps in incentivizing the nodes working on the blockchain. This consensus mechanism optimizes the performance of the applications on the blockchain.
Also, the website claims that the WAX protocol is a carbon-neutral blockchain that uses an environment-friendly process in working with NFTs. Other consensus mechanisms like proof of work use a massive amount of energy to process transactions and mine. The equation-solving process includes more power, which releases a high level of carbon dioxide. Thus, the consensus mechanism used secures energy while minting NFTs.
WAX is the native cryptocurrency of the WAX protocol. WAXP denotes the ticker name of the WAX token. As stated in the whitepaper, it is an ERC20 token. The token is a governance token. A user can stake several WAX tokens and vote for the betterment of the platform. The token also incentivizes nodes that provide developers with computational resources.
The WAX platform was founded in 2017. The whitepaper was released on August 30, 2019. The cofounders of the WAX platform are William E. Quigley (CEO) and Jonathan Yantis (COO). Along with them, the team includes Lukas Sliwka (CTO) and Malcolm CasSella (strategic advisor).
The WAX token is used for staking, rewarding, and voting purposes. The maximum total supply of the WAX token is 3.72 billion WAXP. According to the platform’s whitepaper, WAX staking reward is a system that rewards users who stake their tokens. This helps in increasing participation by the community. A user can earn a newly minted token by staking an amount via their digital wallet. Such staking gives the stakers some voting rights, which helps them represent their views, informing the future of WAX. Through such voting, the voters get incentivized through new WAX tokens.
Moreover, the DApp developers also stake tokens to get a reservation in system resources such as CPU and network to run their apps. The nodes provide resources such as RAM, network, and CPU. In such a way, the nodes that provide these resources get incentivized via developers and gain WAX tokens.
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Conversion Table
WAXP/USD (US Dollar)
$0.0565
WAXP/CAD (Canadian Dollar)
CA$0.0762
WAXP/GBP (British Pound)
£0.0473
WAXP/EUR (Euro)
€0.0547
WAXP/NGN (Nigerian Naira)
NGN 25.08
WAXP/SGD (Singapore Dollar)
SGD 0.0780
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Last update: 8:46 PM
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The price of 1 WAX currently costs $0.0565.
The current market cap of WAX is $130.26M. A high market cap implies that the asset is highly valued by the market.
The all-time high of WAX is $5.01. This all-time high is highest price paid for WAX since it was launched.
Over the last 24 hours, the trading volume of WAX is $6.20M.
Assets that have a similar market cap to WAX include Storj, Siacoin, APENFT, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of WAX is 2.3 billion.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.
