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BLZ: Will Bluzelle Cryptocurrency Continue to Gain Momentum in 2022?

by Editor
December 16, 2021
in News
BLZ: Will Bluzelle Cryptocurrency Continue to Gain Momentum in 2022?

Image source: Getty Images

The last two years have been quite revolutionary for market participants operating in the cryptocurrency space. The widespread adoption of these digital assets coupled with the increase in institutional investments has acted as major drivers for Bitcoin and its peers.

Right now, the cryptocurrency segment is valued at a market cap of over US$2 trillion and is viewed as an alternative asset class. However, the lack of regulation and volatility associated with cryptocurrencies make it a high-risk bet.

With over 12,000 cryptocurrencies in circulation, it’s quite difficult to identify a token that can grow your wealth at an exponential rate over time. We need to look at the utility of the underlying blockchain network and analyze if they can successfully onboard projects in the upcoming decade.

One cryptocurrency that has gained momentum this year is Bluzelle, which is valued at a market cap of US$76.5 million, at the time of writing. Bluzelle has more than tripled in the last year and has gained over 1,300% since the start of 2020. Let’s see if it can continue to move higher and touch record highs in 2022.

Bluzelle lists on Coinbase

Earlier this month, Bluzelle rose by more than 20% in market value after it was listed on one of the world’s largest trading platforms- Coinbase (NASDAQ:COIN). The BLZ token, which powers the Bluzelle blockchain network is available on the Coinbase Pro wallet.

In the last 24 hours, the trading volume on Coinbase stood at US$5.43 billion and its wide moat should increase the liquidity and demand for the BLZ token going forward.

Bluzelle targets the GameFi space given its ability to produce quality games as well as protect player NFTs (non-fungible tokens) and leverage DeFi (decentralized finance yields).

The main products of Bluzelle include the following:

Denomination: A play-to-earn, real-time card battle game. Here, gamers can fight against each other and will rewarded with the BLZ token that can be used to purchase unique NFTs as well as for governance. The game will be launched in early 2022.BluzelleNet: A delegated proof-of-stake blockchain that has transaction speeds of 10,000 per second.Bluzelle R2: A decentralized storage for files and non-fungible tokens.

The bull case for the BLZ token

With fast transaction speeds, users can trade gaming assets at a low cost compared to other blockchain networks such as Ethereum. Bluzelle’s decentralized storage layer protects the NFTs accumulated by players, which is extremely important for those part of the metaverse environment.

Further, Bluzelle also aggregates DeFi products in the Cosmos ecosystem where players can lend, stake, and earn a yield on the gaming assets.

The Denomination game will the first product in the Bluzelle metaverse. In order to gain traction in the metaverse space, Bluzelle aims to focus on creating quality games and easy integration to the DeFi network.

In case Bluzelle can effectively expand its gaming network, the BLZ token will benefit from higher demand, increasing its price further. However, similar to other cryptocurrencies, investing in the BLZ token also carries certain risks. It makes sense to allocate as much amount as you can afford to lose if you are looking to invest in the cryptocurrency space.

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