Bluezelle’s price is up more than 28% today, making it the top gainer on Crypto.com. With a market cap of $110 million and a 24-hour trading volume of $111 million, this is still a small project. Let’s take a closer look at Bluzelle and see what the fuss is all about.
What Exactly Is Bluzelle?
Bluzelle is a network of decentralized storage for the creator economy. Bluzelle protects creators’ intellectual property, such as artists, musicians, scientists, publishers, and developers.
Bluzelle works by allowing users to rent out hard drive space in exchange for BLZ tokens. In exchange, dApp developers pay with the BLZ to have their data stored and managed decentralizedly.
Why is the price of Bluzelle increasing?
The most recent Bluzelle news is the announcement made today on Twitter. Bluzelle’s official Twitter account announced earlier today that she is entering the Metaverse.
On November 16th, the live event will be broadcast on YouTube, and the stream will be open to the public.
It’s no surprise that Bluzelle’s price has skyrocketed today, as integration with Metaverse is bound to bring BLZ newfound attention. Furthermore, because the project is geared toward creators, this collaboration makes sense.
The Metaverse is still in its infancy, and it’s encouraging to see crypto projects jump on board early. We’ve seen what happened with NFTs, and it appears that virtual property and the Metaverse will be all the rage in 2022 and beyond.
Tokenomics and Bluzelle Price
At the time of writing, BLZ was trading at $0.35, with a market cap of more than $109 million. Bluzelle’s 24-hour trading volume is $111 million, indicating high market interest.
Bluzelle is still only 38% of its all-time high, implying that BLZ has a good chance of breaking through $0.35 and attempting to establish new support at $0.4.
Unfortunately, the current ROI for early investors is -15 percent. While this is not a bad return, if the price continues to rise, we should expect increased selling pressure from investors looking to recoup their investment.
This is not investment or trading advice; always conduct your own research before purchasing any cryptocurrency.