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Voxels (VOX) Is Running: Here’s Why

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Let’s talk about Voxels (VOX). This coin is up nearly 1,500% over the last few weeks alone and, a short correction aside, is currently looking like it’s going to continue running into the start of a fresh year.

So what’s behind the action and what does it all mean for the coin, the company behind it and VOX holders?

Let’s take a look.

This one’s an interesting one. The coin, VOX, is a sort of in-platform virtual currency that’s designed to be used in the Voxelus platform, which is a platform that allows for the building, creating and publishing of virtual reality (VR) games and environments.

VOX Daily Chart

VOX Daily Chart

Taking a step back for one second, a voxel (outside of the crypto space) is a sort of 3D pixel. It’s the foundation on which games like Minecraft are built and it’s the building block of the worlds that players of these games create. That’s where Voxelus has taken its (and, in turn, it’s cryptocurrency’s) name.

That’s a bit of an aside, however.

In the Voxelus platform, people can build things that basically internal or external environments and then place objects, people, vehicles, all that sort of thing within the world/environment they’ve created. They can then set objectives within the game (with the objectives forming the basis of the game) and – once everything is in place – launch the game on the Voxelus platform so people can play it.

So where does the Voxels currency come into the equation?

In order for developers to buy items, environments, game objects, all that, they’ve got to first purchase VOX and then use the VOX to transact. Similarly, players that are in the virtual environments can use VOX as a currency with which to transact both with other players in the same environment or with the game itself, unlocking extra features, that sort of thing.

So why is the currency moving?

Voxelus as a platform is getting a lot of attention right now as it’s undergoing a rebranding and it’s about to launch a brand new game. The suggestion is that, through the rebranding, the company can up its game as far as onboarding fresh users (and, in turn, fresh content) is concerned.

The more users and content that’s being created on the platform, the more volume we’re going to see in VOX across the major exchanges as the users acquire it to transact within the Voxelus ecosystem.

And we’re starting to see this sort of volume boost already – the coin saw around $20 million in volume over the last twenty-four hours alone. Go back a month and you’d be hard-pressed to find $200,000 in volume in any one twenty-four-hour period.

And what does all this say about what we can expect going forward?

Well, this is a company that’s just starting to hit that point at which it could really take off and go from a respectable but relatively steady base of users to one that’s growing exponentially. It’s got great management (the guy who created it, Halsey Minor, founded CNET and is the largest investor in SalesForce) and it’s operating in an industry that – in and of itself – has hit a takeoff point both in the US and internationally – VR is expected to be worth $25 billion in the US alone by 2021.

A well placed company, strong leadership, booming industry, smart concept and a growing base of users says one thing to us – that there’s real potential for added strength going forward into the start of 2018 and beyond.

We’re on the lookout for a rebranding success as being supportive of this bull thesis longer term.

We will be updating our subscribers as soon as we know more. For the latest on VOX, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Voxelus.

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Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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