Wadzpay (WTK) Price Surged 180% in May, Here's Why

WadzPay price has surged to a 2-year peak of $0.9 on May 10 2024, reflect monthly timeframe gains in excess of 180%: can critical project announcements from the team drive the WTK rally further？

What is WadzPay (WTK), and Why is it Going Up？

WadzPay (WTK) is a blockchain-based payments service provider that facilitates virtual asset-based transaction processing, custody, and settlement for large institutions, banks, and fintech platforms.

More importantly, this steady rise in value for WTK shows great promise for the project. In detail, the asset is up by 12.7% in the last 24 hours, up by 117% in the last 7 days, and up by 303% in the last year.

Wadzpays native WTK token has been in high demand in recent weeks, thanks to bullish announcements from the team, triggering a triple-digit price rally within the first 10 days of May 2024.

Wadzpay WTK Price Action

The daily WTK price chart shows that the Wadzpay native token opened trading for the month at around $0.33. But at the time of publication on May 10, WTK price has skyrocketted by more than 180% to hit a 2-year peak of $0.09.

The Wadzpay team‘s recently announced a decision to launch its own stablecoin payments services. Markets reaction to WadzPay’s entry into the stablecoin market appears to have formed a major catalyst for the triple digit WTK price rally.

WadzPay, a fintech leader offering blockchain-driven digital asset payment solutions, has revealed its intentions to enter the stablecoin market. This development is expected to expand the companys scope from its current concentration, transforming it from a payment-centred to a global blockchain financial services provider.

• Wadzpay team.

The project is set to expand Wadzpays current operational scope from payments and settlements-centric solutions to include the stablecoin market. Over the years, the global stablecoin market has remained one of the fastest-growing sectors in crypto. Despite major risks and regulatory spotlight, industry leaders Circle (USDC) and Tether (USDT) continue to turn billions in operating profit.

To mitigate risks and enhance its stablecoin service, WadzPay has moved to expand its global footprint in terms of cross-border payment licenses and operating approvals. Recently, Wadzpay acquired VASP and VARA licenses and approval in Dubai, UAE, in a move that could jumpstart the execution phase of the global stablecoin project, as stated in the roadmap.

WTK Price Forecast: Erasing another Zero Could Trigger Bigger Gains

WTK price is hover around the $0.09 mark at the time of writing on May 10. In terms of short-term price action, WTK has retraced 5% in the last 24 hours after hitting a roadblock at the $0.01 milestone. Considering the psychological significance of the $0.01 resistance level, paper-handed swing traders could consider it perfect timing to book some profits.

If this scenario plays out, and holders opt to lock in some of their 180% unrealized profits in May, WTK price action could experience a rapid downswing toward the $0.08 level.

Wadzpay WTK Price Forecast

But on the contrary, Wadzpays price prospect in the mid-to-longer term horizon has a more positive outlook. Firstly, according to Coinmarketcap data, WTK has a maximum supply of 1 billion tokens, with over 500 million already in circulation.

WTK over 50% supply in circulation, and do immediate token unlocks within the next month, strategic new entrants could pay close attention to the ongoing retracement to find an entry point.

Furthermore, with the bullish catalyst Wadzpay stablecoin yet to be launched, many existing investors could opt to hold out for the full potential upside of the upcoming project.

The key factors could combine to catapult WTK price above the $0.10 territory, possibly setting the stage for a bigger rally.