This article centers around a thorough assessment of OAX coin’s technical and fundamental attributes using data obtained from www.coinmarketcap.com . Our report aims to address vital inquiries regarding the projects associated with the cryptocurrency ; determining significant factors affecting its market value ; reviewing which are reliable exchanges for trading it ; identifying traded currency pairs ; exploOAX assorted key metrics that demonstrate critical aspects of performOAXe such as highest low price values attained among other essential economic indicators. We will also provide regular weekly graphical or technical analyses aimed at assisting potential investors evaluate feasible investment risks areas while identifying prospective profits..
What is OAX (OAX) Coin?
OAX (OpenANX) is a cryptocurrency project that aims to build a decentralized exchange platform for the trading of digital assets. It focuses on improving the transparency, security, and liquidity of decentralized exchanges by utilizing smart contracts and off-chain transaction processing. The OAX coin is the native token of the OpenANX network and can be used for various purposes within the ecosystem, such as paying fees and participating in governance decisions.
If you want to know more about the OAXCoin(OAX) coin , you can visit its website .
OAX (OpenANX) has several key projects and goals:
1.Decentralized Exchange Platform : OAX aims to develop a decentralized exchange platform that provides users with a secure , transparent, and efficient trading experience for digital assets . This platform leverages blockchain technology and smart contracts to eliminate the need for intermediaries and enhance user control over their funds .
2.Off-Chain Transaction Processing : OAX implements off-chain transaction processing to improve scalability and reduce network congestion. By moving certain operations off the blockchain while maintaining security through smart contract technology , it enables faster transactions without compromising on transparency or security .
3. Tokenization of Assets : The project also focuses on facilitating the tokenization of real-world assets, such as stocks or commodities , enabling these traditional assets to be represented as digital tokens on the OpenANX platform . This can increase accessibility , liquidity , and efficiency in asset trading .
4Governance Model : OAX incorporates a governance model where holders of OAX tokens can participate in decision-making processes related to protocol upgrades or changes within the ecosystem. This ensures community involvement and decentralization of power .
These projects collectively aim to address some of the challenges faced by traditional centralized exchanges by providing a decentralized alternative that offers increased security , transparency , liquidity , and user control over assets .
Factors affecting price:
The price of the OAX coin, like any other cryptocurrency, can be influenced by various factors. Here are some key factors that may impact the price of OAX :
1. Market Demand and Adoption : The demand for OAX coins in the market can significantly affect its price. Factors such as increased adoption of the OpenANX platform, growing user base, and partnerships with prominent organizations or projects could drive up demand for OAX tokens .
2. Overall Cryptocurrency Market Sentiment : The general sentiment and trends in the broader cryptocurrency market can influence the price of OAX as well. Factors like regulatory developments, market volatility, investor sentiment towards cryptocurrencies as a whole, and macroeconomic conditions can impact its value .
3Platform Development Progress : The progress made by the OpenANX team in developing their decentralized exchange platform and implementing new features or improvements could positively influence investor confidence in the project’s potential success, potentially leading to an increase in token value .
4. Competition from Other Projects : Competition within the decentralized exchange space may also affect the price of OAX coins. If there are emerging projects offering similar solutions that gain significant traction and attention from investors, it could put downward pressure on OAX prices .
5. Tokenomics & Supply Dynamics : Considerations such as circulating supply dynamics (e.g., inflation rate) and token utility within the OpenANX ecosystem (e.g., staking rewards or fee discounts) may impact investor perception of long-term value proposition for holding or utilizing OAX tokens .
It is important to note that cryptocurrency markets can be highly volatile and unpredictable due to a range of speculative factors and external events beyond these influences mentioned above .
Where can I buy OAXCoin (OAX)?
Exchange Pair Volume
OAX Coin (OAX) Baseline Assessment :
The market cap of the OAX Coin (OAX) coin is $ 9.360.049 and its circulating supply is 55.788.269 units . Its maximum supply is 100.000.000 units , with a fully diluted valuation of $ 16.777.808 .
What is the high price point for OAX Coin (OAX)?
OAXCoin (OAX) token highest price is $2.92 recorded on Jan 07, 2018. The current price is -94.26% lower than the all-time high .
What is the low point of the price for OAX Coin (OAX)?
OAXCoin(OAX) token’s lowest price was $0.0167on Mar 13, 2020.
OAX Coin (OAX) Technical Outlook:
The upward movement, which started at $0.029200 on June 27, 2022, ended at $0.620537. OAX coin, which provided a 2009% gain to its investor, retraced to the level of 0.151203 after seeing the peak on March 20, 2023. The channel on our chart is essential for the continuation of the upward movement. It should be followed whether it will be able to enter the channel or whether it has come to receive a decline confirmation. The 0.301669 level, where the volume has formed since the beginning of the upward movement, is an important resistance that must be crossed. The bulls will breathe easily above the Fibo 0.382 level. Once the $0.193084 level is passed, the OAX coin, which re-enters the channel, can climb up to $1.38. As long as it stays below the $0.193084 level, it will enter a downtrend, and the fibo will be pulled to 0.618.
Our support point is $0.134624 – $0.093863 while our resistance points are: $0.193084 – $0.301669 – $0.620537
Investment information, comments, and recommendations contained herein are not within the scope of investment consultancy . The content, comments , and recommendations herein are not guiding but general . These recommendations may not suit your financial situation and risk and return preferences . Therefore , making an investment decision based solely on the information herein may not yield results that meet your expectations .