What is Bluzelle (BLZ) crypto and why did it rise 40%?

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What is Bluzelle (BLZ) crypto and why did it rise 40%?

What is Bluzelle (BLZ) crypto and why did it rise 40%?
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Highlights
  • Bluzelle is a GameFi blockchain aiming to produce quality games, protect NFTs and leverage DeFi yields.
  • BLZ is the native token of Bluzelle. 
  • Bluzelle has a total supply of 500 million tokens.

The global crypto market has swung between highs and lows in recent weeks. After Tuesday’s fall, the market rebounded 2.25% to US$1.25 trillion in the last 24 hours to Wednesday morning.

Among other gainers, the Bluzelle (BLZ) coin rose 42.41% to US$0.1549 at 6:33 am ET for no apparent reasons or no news updates from the company. 

Let us understand more about Bluzelle crypto. 

What is Bluzelle (BLZ)?

Bluzelle is a GameFi blockchain that aims to produce high-quality games, protect players' NFTs, and leverage DeFi yields with a processing speed of 10,000 transactions per second (TPS). The blockchain also offers a decentralized storage network for the creator economy. 

The censorship-resistant, high-security blockchain protects the intellectual property of creators, including artists, musicians, developers, publishers, scientists, etc.

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Bluzelle’s products include Bluzelle Net, Gamma 4, and Bluzelle R2. 

Bluzelle Net is the delegated PoS blockchain with 10,000 TPS. Gamma 4 is a play-to-earn (P2E) game on Bluzelle, and Bluzelle R2 is the decentralized storage for files and NFTs.

The project founders are Pavel Bains and Neeraj Murarka; both are engineers working on decentralized solutions to address fragmented data links in the DeFi space. 

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The Bluzelle team is based in Singapore and Canada. It comprises people who have previously worked in Google, Disney, Sony, Electronic Arts, etc. 

Bluzelle said it is building an ecosystem of partners to accelerate the use of its database and oracle products. Its partners include Equinox, Polkadot, TomoChain, Ankr, Reff, etc. 

Also Read: Why is SafeMoon (SAFEMOON) crypto gaining attention?

What is Bluzelle (BLZ) crypto and why did it rise 40%?Data Source: coinmarketcap.com

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BLZ token:

BLZ is the native token of Bluzelle. It is used for paying network transactions, Bluzelle DB and Oracle services, staking, earning rewards and participating in the network governance.  

The token has a market capitalization of US$50.46 million.

On Wednesday, its trading volume soared 862.24% to US$160.54 million in the last 24 hours. Its circulating supply is 325.74 million, with a total supply of 500 million. The token is available for trading on crypto exchanges like Binance, MEXC, Hotbit, Huobi Global, BingX, and CoinTiger.

Also Read: Why did Etho Protocol (ETHO) volume surge 3000% today?

Bottom line:

Bluzelle wants every device, from computer hard drives, mobile phones to gaming consoles, to become a node to make the network large with tens of thousands of nodes working together, generating fees, and providing a secure database. It was launched in 2014 and was listed on Coinmarketcap.com in 2018.

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