Bluezelle price is up over 28% today, making it the biggest gainer on Crypto.com. With a market cap of $110M and a 24 hour trading volume of $111M, this is still a relatively small project. Lets’ take a closer look at Bluzelle and see what all the hype is about?
What Is Bluzelle?
Bluzelle is a decentralized storage network for the creator economy. Bluzelle protects the itellectual property of creators such as: Artists, musicians, scientists, publishers, or developers.
The way Bluzelle works, is by enabling users to rent out their hard drive space in exchange for BLZ tokens. In return, dApp developers pay using the BLZ in order to have their data stored and managed in a decentralized way.
Why Is Bluzelle Price Rising?
The most recent news when it comes to Bluzelle, is today’s announcement on twitter. The official Bluzelle twitter account announced earlier today that Bluzelle is entering the Metaverse.
The live event will take place on YouTube on November 16th, and the stream will be open to the public to view.
It’s no surprise that Bluzelle’s price increased dramatically today, as integration with Metaverse is bound to bring newfound attention to BLZ. Moreover, since the project is designed for creators alike, this partnership makes sense.
The Metaverse is still in its infancy and it’s great to see crypto projects hopping on that trend early. We saw what happened with NFTs, it looks like virtual property and Metaverse will be all the hype in 2022 and beyond.
Bluzelle Price & Tokenomics
BLZ is trading at $0.35 at the time of writing, boasting a market cap of over $109 million. Bluzelle’s 24 hour trading volume is at $111 million, signifying high interest in the market.
Bluzelle is still only 38% of its ATH, meaning BLZ has a high potential of breaking through $0.35 and attempt to establish new support at $0.4.
Unfortunately, the current ROI for investors that got in early is -15%, while not that bad, if the price were to keep increasing we should expect increase selling pressure from investors looking to get back their ROI.
This is not trading or investment advice, always do your own research before purchasing any cryptocurrency.
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