In the last 24 hours, the Wax currency (WAX) has increased by around 10%. It is currently trading around $ 0.1188. In fact, when you look at the week-long performance of the Wax coin (WAX), you will see that it has increased by almost 47%. This clearly articulates the fact that there may be a large-scale uptrend in the Wax currency (WAX). Today we will examine the reasons behind this growth.
The wax coin (WAX) increases by 47% in just 1 week:
A week before wax (WAX) was trading around $ 0.0818. The market capitalization was about $ 76 million. In the last 7 days, it has increased steadily. Currently, it trades around $ 0.1188. The current market capitalization is about 111.21 million dollars. This clearly indicates that in the last 7 days it has increased by 47% within a week. This is one of the main reasons why more and more traders are trying to figure out if the rally can continue.
One of the main reasons for the increase was the increasing volume. When you look at average volumes, a week ago, it was about $ 500,000. Since it started to rise, the volumes exceed $ 1 million. Volumes in the last 24 hours were around $ 1.8 million. This clearly indicates that at least some of the investors are bullish on the Wax currency (WAX). If the volumes continue to be on the higher side, the currency can rise even higher.
With the 47% increase in just one week, more and more investors are paying attention to it. However, if you are thinking about investing in these Altcoins at these levels for the first time, you must be fairly cautious. You must ideally expect a fall rather than investing at these high levels. There is a high probability that if you invest at these levels, you will be stuck for a long period of time, if a downward trend starts at these levels. This is why it is much better to wait for the downward trend and only then think about investing in a wax coin (WAX). Instead of choosing the momentum, it's a much better idea to wait for it. Only when there is a decline in this cryptocurrency should you think about investing.
Also, you have to wait if there is any kind of fundamental development due to which, it is increasing rather than increasing only in volumes. If in fact there is a fundamental development, only then can you think about investing. Until that time, you have to let the volumes lower and wait a day before investing in this cryptocurrency.