- The one-day volume of the BAX cryptocurrency has skyrocketed by 6077 per cent to US$ 24.1 million.
- The BAX crypto is the native utility token of the BABB network, which is a London-based financial blockchain platform.
- Using innovative technologies, the BABB network gets financial services through crowdsourcing, and it removes the need for banks.
The Bank Account Based Blockchain's (BABB) native cryptocurrency BAX is witnessing a high surge in its price and volume, In the last 24 hours, the BAX crypto's price surged 130 per cent and it was trading at US$ 0.001083 per token.
Notably, the 24-hour volume of the BAX cryptocurrency has skyrocketed by 6,077 per cent. According to CoinMarketCap data, the ranking of the BAX crypto is 631 and its live market cap was about US$ 54 million.
What is BAX crypto?
It is the native utility token of the BABB network, which is a London-based financial blockchain platform. The network was started to provide financial services to those who are unable to get traditional banking services.
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BABB is working to create decentralized finance (DeFi) infrastructure and hopes to become one of the leading decentralized banking platforms in the world. To achieve this, the network aims to use biometrics, artificial intelligence and blockchain technology to offer peer-to-peer financial services.
Using innovative technologies, the BABB network gets financial services through crowdsourcing, and it removes the need for banks. It is reportedly planning to tokenize FIAT currencies and use them on its distributed application platform.
The BAX crypto has different use cases and the most important use is to operate all the services of the platform across geographies and jurisdictions served by the network.
This cryptocurrency ensures borderless transactions and acts as a governance token to determine the allocation of resources.
According to CoinGecko data, the BAX crypto has expanded 3,475.4 per cent and has remained bullish throughout the year.
On April 25, 2018, this cryptocurrency had clocked an all-time high (ATH) of US$ 0.00295988 apiece. If the BAX crypto continues the same momentum throughout 2022, it could surpass its ATH.