By Menno — 13 years in crypto, 3 bear markets survived, zero paid promotions
Last updated: April 2026
WAX (WAXP) Risk Score
WAX (WAXP) has a composite risk score of 21/100, classified as Low Risk. This score is derived from 2 active indicators and updates every 6 hours. Purpose-built NFT and gaming blockchain processing billions of transactions for NFT collectibles, virtual items, and play-to-earn games.
WAX Risk Score
Low Risk
What Does This Score Mean?
A score of 21 means WAX is in the Low Risk zone. Scores below 40 indicate relatively lower risk conditions, while scores above 60 suggest elevated risk.
This composite is computed from up to 9 indicators including on-chain data, market sentiment, and price action. The individual indicator scores are available to Alpha Factory members.
Scoring Indicators
| Indicator | Weight | Status |
|---|---|---|
| Risk Wave | 23% | Core |
| RSI (2-Week) | 18% | Core |
| ATH Distance | 5% | Core |
| Bitcoin Dominance | 5% | Core |
| Fear & Greed Index | 14% | Core |
| ALT/BTC Ratio | 5% | Core |
| BTC Production Cost | 9% | Core |
| Funding Rate | 5% | Modifier |
| Token Unlocks | 18% | Modifier |
WAX Investment Context
WAX's 13 million user accounts and partnerships with Hasbro, Topps MLB, and Funko represent the largest base of real non-speculative NFT users in blockchain. Its gas-free model for end users is essential for mainstream collectibles — nobody pays Ethereum gas to open a digital trading card pack. The IP partnership moat is difficult to replicate: Mattel, Topps, and Hasbro chose WAX specifically for its user-friendly infrastructure. As digital collectibles expand into sports cards and entertainment, WAX's existing enterprise relationships provide a durable distribution advantage.
Key Features:
- Delegated Proof-of-Stake consensus processes millions of free NFT transactions daily with no gas costs for users
- WAX Cloud Wallet has over 13 million accounts — one of the largest onboarded user bases in blockchain gaming
- Home to Topps, Mattel, and Hasbro licensed NFT collections, validating enterprise-grade NFT infrastructure
- Carbon-neutral blockchain certified by ClimateCare, addressing ESG concerns for brand partnerships
Key Risks:
- Gaming and NFT market contraction since 2022 has reduced transaction volumes and protocol revenue significantly
- EOSIO-based architecture is not EVM-compatible, limiting developer pool and cross-chain DeFi composability
- Brand NFT collections have shown poor secondary market retention, reducing collector engagement over time
Layer 1 Category
Layer 1 blockchains are the foundational networks of crypto — they process transactions, secure the network, and host applications.
Strategy: Layer 1 tokens tend to follow Bitcoin's macro cycles but with higher volatility. A disciplined DCA approach with clear exit targets works best.
View all Layer 1 risk scores →Compare with Layer 1 Peers
| # | Coin | Score |
|---|---|---|
| 1 | Story IP | 7 |
| 2 | Sei SEI | 9 |
| 3 | Cardano ADA | 9 |
Frequently Asked Questions
What is the current risk score for WAX?
WAX (WAXP) currently has a composite risk score of 21/100, classified as "Low Risk". This score is derived from 2 active indicators including Risk Wave, RSI, and market sentiment data.
How risky is WAX compared to other Layer 1 coins?
Layer 1 coins generally carry medium to high risk. Layer 1 blockchains are the foundational networks of crypto — they process transactions, secure the network, and host applications. Among peers, Story currently shows the lowest risk in this category.
What indicators are used to score WAX?
The WAX risk score uses up to 9 indicators: Risk Wave (momentum), 2-week RSI (overbought/oversold), ATH Distance, Bitcoin Dominance, Fear & Greed Index, ALT/BTC Ratio, BTC Production Cost, Funding Rate, and Token Unlocks. Each indicator is weighted based on its predictive value for altcoin market conditions.
Should I invest in WAX based on this risk score?
Risk scores are for informational purposes only and do not constitute financial advice. WAX's 13 million user accounts and partnerships with Hasbro, Topps MLB, and Funko represent the largest base of real non-speculative NFT users in blockchain. Its gas-free model for end users is essent... Always do your own research and consult a financial advisor.