BLZ (Bluzelle) Token Analysis 21/04/2021Fundamentals:
Bluzelle is a decentralized data layer for dapps to manage data in a secure, censorship-resistant and highly scalable manner. Bluzelle is powered by Cosmos and its BFT technology Tendermint, making it compatible with various blockchains. As developers continue to build Dapps, relying on centralized databases by AWS, Microsoft and others is a centralized point of failure. True freedom requires the full stack to be decentralized, not just one part. That’s where Bluzelle aims to provide a critical piece in the advancement of Defi, supply chains, gaming, and other Web 3.0 sectors.
1.Bluzelle’s core products are all related to data and powered by its Tendermint Blockchain:
2.Bluzelle DB - a decentralized database for software developers to store information
3.Bluzelle Oracles - a truly decentralized pricing oracle that provides high speed and high security for Defi applications
4.Bluzelle Staking - where BLZ holders can currently stake their tokens and earn rewards for providing storage and pricing data.
BluzelleNet powers the entire ecosystem as a 10,000 TPS Proof-of-Stake network. Becoming a validator was designed to be an easy process with minimal technical knowledge. The vision is to have a network of tens of thousands of nodes working together to provide the most available and secure database in the world. Bluzelle wants every device to become a node, from computer hard drives to video game consoles to mobile phones. Those who do not want to become a validator can delegate their tasks to another validator, ensuring everyone can be part of the network and generate fees.
Pavel Bains and Neeraj Murarka founded Bluzelle to address the fragmented data link in the blockchain and DeFi space. Both Pavel and Neeraj hold extensive technological experience with a demonstrated history of working with major global players.
Pavel previously co-founded Storypanda, a digital book platform amassing the attention of acclaimed titles by DreamWorks, Warner Bros, and more. With a deep understanding of financial aspects, Pavel actively led the GM and CFO roles at Disney, handling budgets of tens of millions of dollars across 4 continents. Neeraj is an engineer and computer systems architect holding extensive experience of 20 years working with global players including Google, IBM, Hewlett Packard, Lufthansa, and Thales Avionics.
The Bluzelle team members have worked for Disney, Sony, Google, Lufthansa, Electronic Arts. They are recipients of the Technology Pioneer Award by the World Economic Forum and named Forrester as a top blockchain vendor in Asia. Its team is based in two locations, Singapore and Vancouver (Canada). Bluzelle is backed by industry funds like NGC, Hashed, KR1, and Kenetic.
Bluzelle has building an ecosystem of partners to enhance use of its database and oracles product:
Cosmos/Tendermint
Polkadot
Polygon (formerly Matic)
Ankr
Equinix (NASDAQ $50B Company)
The live Bluzelle price today is $0.389196 USD with a 24-hour trading volume of $35,338,335 USD. Bluzelle is up 2.75% in the last 24 hours. The current CoinMarketCap ranking is #385, with a live market cap of $111,284,391 USD. It has a circulating supply of 285,934,224 BLZ coins and the max. supply is not available.
The top exchanges for trading in Bluzelle are currently Binance, Huobi Global, CoinTiger, MXC.COM, and BiONE.
Technical Analysis:
The Token has done its initialization and Accumulation Phase and Completed An Impulsive cycle where currently is Reneging on the Retracement Phase,
We can see clearly the Price Has touched the 261.8% of Fibonacci Projection of the First Impulsive wave, after the Accumulation Phase and now is renege bounding in the Parallels legs of the same Projection after the Distribution of 261.8%.
There are chances that the price Continue its Retracement to the lower levels which are defined by Fibonacci Retracement and Specified on the chart where as most Probably they will stand and Bounce Up the Price.
There are total of 3 Targets Defined by the Fibonacci Projection and Total of 2 Support areas by Fibonacci Retracement and 1 low of the Projection
