With the wider adoption of blockchain, the projects working with the digital ownership rights attracted more attention which affected the growth of their token prices. Bluzelle, a censorship-resistant decentralized network, is one of the projects that show lots of potentials. Read our Bluzelle Price Prediction to see if it is worth holding the coin.
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Bluzelle Fundamental Analysis
Bluzelle is a decentralized secure and censorship-resistant network for content creators. It’s made to provide artists, musicians, developers, and other creators with secured ownership over their work. The network includes data storage, file storage, oracles, etc. It uses Proof-of-Stake consensus and allows 10 000 transactions per second.
Bluzelle Network makes becoming a validator easier than other blockchains without a lot of technical knowledge. Every device from a mobile phone and video game console to a personal computer can become a node and thus Bluzelle aims to create a network of thousands of nodes that will together create the most accessible and secure database in the world.
It is also a decentralized service provider for GameFi, that can create high-quality games. while protecting the ownership of NFTs. All the services are data-related and based on the Tendermint blockchain. Bluzelle decentralized database allows software developers to securely store any data, Oracles provides high speed and security for Defi applications. There is staking: the users stake their tokens and receive rewards for providing storage and pricing data.
Bluzelle was founded by Neerav Murarka and Pavel Bains to address the fragmented data link in blockchain and DeFi. Both co-founders have extensive experience in working with major global technological projects, including, Lufthansa, Disney, Google. The project is backed by industry funds Kenetic, NGC, Hashed, KR1.
Bluzelle also hosts a play-to-earn PvP battle blockchain-based game Denomination where users can win the tokens that can be used for governance and purchasing NFTs.
Bluzelle token (BLZ) is an ERC-20 coin powering the project. It is used to pay transaction fees, for data storage, databases, and oracles. The token can also be staked to earn the rewards and it also provides governance rights.
Bluzelle Live Price Chart
BLZ token was following the bullish trend from the beginning of the year, but together with the whole crypto market was pulled off from the beginning of May till the beginning of June. At the time despite the general tendency BLZ was increasing its price and traded between $0.22 and $0.3.
The price suddenly fell to $0.18 in the middle of September, recovered to $0.22, went to the support level of $0.18, and then started to increase again. Till the beginning of November, the value of BLZ token was stabilizing and bouncing between $0.21 and $0.28. On November 13 the coin’s price skyrocketed to $0.33, was corrected to $0.31, and then reached $0.38.
From that time BLZ’s price has been jumping, but not losing its position. In the last week, the token’s price has risen by 23.5%. Despite the fact that the token’s price doesn’t show stable growth, analysts consider it as a good long-term investment and expect it to increase its value even if the crypto market will go to a downtrend.