WAX leads Metaverse Coin Rally as Amazon invests in Dibbs

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Last week we saw a BIG correction in the cryptocurrency market, however, Metaverse coins continue to dominate the markets as things recover. According to Crypto.com, today, we’ve seen a 3.26% rise in market capitalization for Metaverse coins, with WAX topping the charts by percent increase. Let’s look at this crypto and see why the price is rising.

WAX (WAXP) +37.92%

WAX stands for the “Worldwide Asset eXchange™,” claiming to be the world’s most proven and eco-friendly blockchain for NFTs, collectibles, and video games. It has secured partnerships with big brands like Street Fighter, Saw, Atari, and much more.

WAXP is the native token on the WAX platform, featuring its very own blockchain with a Delegated Proof-of-Stake consensus mechanism.

In recent news, according to a Bloomberg report, Amazon.com Inc is investing in sports-card marketplace Dibbs, which is a real-time fractional card market using WAX’s NFT technology.

There’s no doubt that the recent news about Amazon investing in a company that’s built on top of WAX is a price catalyst for the WAXP token.

At the time of writing, WAXP is trading at $0.661, up 35% in the past 24 hours. WAXP has a 24-hour trading volume of $1 billion with a market cap of $1.2 billion. You can purchase WAX on Binance, Huobi Global, KuCoin, Bithumb, Crypto.com, Bittrex, and more.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.