The general cryptocurrency market started off less than fiction, and the downtrend that began after the market peaked in November 2021 appears to have been prolonged by a series of negative events, including the expectation of higher interest rates and the threat of war between Russia and Ukraine.
While many traders have little appetite for venture capital in bearish conditions, reluctant investors who want to buy while there is “blood in the streets” have several viable options with Cointelegraph Markets Pro data indicating that Bluzelle, a storage network The decentralization of the creative economy, is a symbol with an increasingly positive outlook.
3rd place in the list of VORTECS results. Source: Cointelegraph Markets Pro.
Market conditions for BLZ have been favorable for some time, according to data from Cointelegraph Markets Pro.
The VORTECS Male Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions drawn from a range of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.
VOTECS™ result (green) compared to the price of BLZ. Source: Cointelegraph Markets Pro.
As seen in the chart above, VORTECS™ for BLZ has been on the rise since February 19 and peaked at 89 on February 22 when the price was hovering below the key support and resistance area at $0.17.
Here are three factors that keep the pace of BLZ’s creation going.
One of the major events that helped fuel interest in BLZ was the launch of Denomination, the first 2-earning (P2E) game play on the Bluzelle Network.
Class is a real-time card game where players can battle each other in PvP or PvE to earn reward tokens that can be used for control or to purchase non-fungible items (NFTs)
The game was developed in collaboration with Starloop Studios, a professional game studio that has worked with some of the largest game publishers in the world. It also includes a faction social system, an in-game shop, an NFT market, loot chests, and a treasure chest.
Cooperation with Cosmos
Another development driving the development of BLZ is the project’s ongoing collaboration with Cosmos to help expand GameFi on the Cosmos Network.
Cosmos has been one of the most popular networks over the past few months, despite the general weakness in the cryptocurrency market, thanks to its rapidly growing ecosystem of interconnected projects and recently launched protocols that reward early adopters with gifts.
Bluzelle GameFi capabilities can help the Cosmos ecosystem make its mark on the blockchain gaming sector.
Bluzelle developers have also expressed interest in integrating with other networks that could benefit from adding GameFi features.
Related Topics: Bluzelle launches decentralized home network storage for NFT content
Popularity of Blockchain Games
The third factor in favor of BLZ is the overall popularity of blockchain-based games and the P2E model.
Gaming has long been one of the most popular and pervasive sectors of the traditional economy, and the success of Axie Infinity shows that blockchain games can outperform traditional games.
A focus on helping GameFi expand to more networks and the ability to handle 10,000 transactions per second creates an optimistic outlook for BLZ going forward.