The cryptocurrency market has had a lower than stellar begin to the yr and it seems that the downtrend that started after the November 2021 market peak has been prolonged due to a mess of adverse developments, together with the expectation of rising rates of interest and the specter of a battle between Russia and Ukraine.
Whereas many merchants have little urge for food to danger capital throughout bearish situations, contrarian traders seeking to purchase whereas “there may be blood on the streets” have a number of viable choices with information from Cointelegraph Markets Pro indicating that Bluzelle, a decentralized storage community for the creator economic system, is one token with an more and more optimistic outlook.
Based on information from Cointelegraph Markets Pro, market situations for BLZ have been favorable for a while.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of knowledge factors together with market sentiment, buying and selling quantity, current worth actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for BLZ started has been on the rise since Feb. 19 and reached a excessive of 89 on Feb. 22 as its worth hovered just under a significant help and resistance zone at $0.17
Right here’s a take a look at three elements backing the constructing momentum for BLZ.
The launch of Denomination
One of many important developments serving to drive curiosity in BLZ has been the launch of Denomination, the primary play-2-earn (P2E) recreation on the Bluzelle community.
With the #Denomination launch upnext, we’ll be releasing thrilling updates from the Denomination Whitepaper each week that can assist you with:
Core Recreation Development
— Bluzelle (@BluzelleHQ) January 17, 2022
Denomination is a real-time card battle recreation the place players can struggle in opposition to one another in participant versus participant (PvP) mode or in opposition to the atmosphere in participant versus atmosphere (PvE) mode to obtain tokenized rewards that can be utilized for governance or to buy non-fungible tokens (NFTs)
The sport was developed in collaboration with Starloop Studios, an expert recreation studio that has labored with a number of the greatest recreation publishers on the planet. It additionally features a social system comprised of factions, a recreation store, NFT market, loot containers and a treasury.
Collaboration with Cosmos
One other improvement serving to construct momentum for BLZ is the challenge’s ongoing collaboration with Cosmos to assist construct out GameFi on the Cosmos Community.
With our continued improvement with @cosmos, we may even uncover new methods to construct out recreation finance within the Cosmos ecosystem
We’ll discover strategies to work with different chains as we undergo manufacturing.
Keep tuned, good issues are on the best way!
— Bluzelle (@BluzelleHQ) February 15, 2022
Cosmos has been one of many hottest networks over the previous couple of months regardless of the general weak point within the cryptocurrency market due to its rapidly expanding ecosystem of interconnected initiatives and newly launched protocols which have rewarded early adopters with airdrops.
The GameFi capabilities of Bluzelle might assist the Cosmos ecosystem make its mark on the blockchain gaming sector.
Builders behind Bluzelle have additionally expressed curiosity in integrating with different networks that might profit from the addition of GameFi capabilities.
The recognition of blockchain gaming
A 3rd issue making the case for BLZ is the general recognition of blockchain-based gaming and the P2E mannequin.
Gaming has lengthy been probably the most standard and widespread segments of the standard economic system and the success of Axie Infinity exhibits that blockchain gaming might vastly outperform conventional gaming.
Quickly the identical countless hours you spent enjoying video video games rising up will likely be spent on blockchain video games.
— BSC Information (@news_of_bsc) February 1, 2022
A deal with serving to to construct out GameFi on a number of networks and the power to course of 10,000 transactions per second are serving to to ascertain the bullish case for BLZ shifting ahead.
The views and opinions expressed listed here are solely these of the writer and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it is best to conduct your personal analysis when making a call.