Bluzelle price prediction: BLZ faces upward battle
Updated
Bluzelle is providing gamers and developers with a scalable blockchain that can handle the large amount of activity and traffic related to the industry.
With an impressive 10,000 transactions per second (TPS) blockchain, a non-fungible token (NFT) storage layer, and its own crypto games, Bluzelle has built a network with its audience at the core. But what about its utility token, bluzelle (BLZ)?
BLZ has been struggling this year, with the price trading at approximately $0.06091 on 25 November 2022.
At the time of writing, this has led to a rather mixed bluzelle price prediction analysis, including a bearish forecast from Wallet Investor and bullish expectations from TechNewsLeader.
What is bluzelle (BLZ)?
Despite crypto gaming taking off last year, scalability difficulties from the Ethereum (ETH) infrastructure are holding developers and users back, at least according to Bluzelle.
Its supporting documentation says:
Bluzelle is a blockchain solution to this problem and was designed specifically with gaming finance (GameFi) in mind. The blockchain was developed on the Cosmos (ATOM) network and supports 10,000 TPS, rather than Ethereum’s roughly 30 TPS.
There are four factors that Bluzelle prioritises, the first being a fast and scalable network. Its second feature is its decentralised storage, which is needed for storing the NFTs that play an essential role in crypto gaming.
Bluzelle is also putting decentralised finance (DeFi) at the core of its network. It allows investors to put their gaming assets to work and earn yield.
Finally, Bluzelle is creating its own crypto games that utilise this ecosystem. Its documentation explained: “With our team’s experience working with Nintendo, EA, Xbox and more, this is an area we can excel.”
Pavel Bains and Neeraj Murarka are the co-founders behind the crypto gaming blockchain. While Bains previously founded the digital book company Storypanda, Murarka has engineering experience with technology giants including Google (GOOGL) and IBM (IBM).
The BLZ token
Financing and powering Bluzelle is its own BLZ token, which was designed with crypto gaming in mind. Games that are hosted on the blockchain, such as Gamma4 and Stargate, can utilise BLZ as an in-game currency to purchase NFTs and other items.
The cryptocurrency is fuelling the network as well. Bluzelle pays the nodes validating transactions with BLZ.
The bluzelle (BLZ) entry on CoinMarketCap said:
BLZ’s past performance
BLZ price chart
Source: CoinMarketCap
Bluzelle has seen a volatile price history. After launching on 6 February 2018 with an opening price of just over $0.42, it climbed to its all-time high of $0.91 the following day. But it proved unable to maintain this high valuation, and the token plummeted.
Aside from a brief surge on 29 April 2018 to a peak of $0.74, it crashed throughout 2018 and over the next three years. It stooped to its all-time low of $0.006 on 13 March 2020.
The cryptocurrency did see a significant breakout as it entered 2021. This was fueled by Bluzelle becoming a validator on the cloud blockchain company Ankr. BLZ reached a fraction over $0.66, recording the daily high on 28 March 2021.
Bluzelle experienced another surge at the end of 2021 after its NFT storage mainnet went live. It managed to climb to $0.40 on 25 November, before eventually dropping along with the crypto bear market. After the crypto crash in May 2022, BLZ dropped below $0.10 and to a low of $0.05.
Bluzelle is thrilled to release its much-anticipated file storage solution on mainnet.
— Bluzelle (@BluzelleHQ) 4 November 2021
Primarily targeted at NFT platforms, the feature provides a simple-to-use & resilient solution for saving immutable files on decentralized storage.
Read More: https://t.co/LKKlgL9Jmf pic.twitter.com/aGmnhD03Ei
While it managed to recover some of its losses, Binance then announced that its BLZ futures offering would be delisted on 25 August 2022. After reaching a high of $0.18 on the day it was delisted, BLZ then plummeted and closed the month at $0.09.
Despite a referral programme for its Binance spot market listings in September, bluzelle struggled to gain traction again.
At the time of writing on 25 November 2022, BLZ was trading at $0.06091.
Bluzelle price prediction round-up
When it comes to a BLZ price prediction, there were mixed responses about the token’s future at the time of writing.
AMB Crypto anticipated a steady climb for the gaming coin and said it could reach $0.36 in 2025. Its bluzelle price prediction for 2030 suggested it could reach an average of $0.93.
TechNewsLeader was even more ambitious in the long-term. It said BLZ could hit a maximum price of $0.13 in a year. While its bluzelle price prediction for 2025 suggested a value of $0.32, it anticipated a new price record of up to $2.08 in 2030.
Similarly, PricePrediction suggested it could reach an average price of $0.065 this year and $0.20 in 2025. Its bluzelle coin price prediction said it could then soar to $1.29 in 2030.
On the other hand, Wallet Investor described the cryptocurrency as a “bad” long-term investment, and its bluzelle price prediction for 2023 expected it to be worth just $0.006081 in a year.
When considering a BLZ coin price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. When looking for a BLZ crypto price prediction, keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.
FAQs
How many bluzelle are there?
As of 25 November 2022, there was a circulating supply of more than 340 million BLZ and a total supply of 500 million tokens.
Is bluzelle a good investment?
Bluzelle is a blockchain designed for crypto gamers. Its NFT storage and high transaction speeds have been tailored towards this audience. Its utility token bluzelle (BLZ) is used as a payment source within its ecosystem for gas fees and as an in-game currency.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the BLZ token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.
Will bluzelle go up or down?
At the time of writing (25 November 2022), there was a mixed attitude among forecasters. TechNewsLeader suggested it would eventually pass the $2 mark in 2030, while Wallet Investor anticipated it falling below $0.01 within a year.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether bluzelle is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.
Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.
Should I invest in bluzelle?
BLZ has been stuck in a bearish trend this year and has struggled to come anywhere close to its 2021 highs.
Whether you should invest in BLZ is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research. Never invest more money than you can afford to lose, because prices can go down as well as up.
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