WadzPay Token (WTK) gained 118% over the last week, spiking sharply amid a cryptocurrency market downturn.

The coin now has a $44 million market cap and is gaining interest among crypto traders for its meteoric rise. This has caused some analysts to expect great things from the coin in the future, with some even suggesting it could reach a $500 million market cap.

The token is currently sitting at a price of $0.07597 (WTK/USD), after hanging around $0.03300 late last month. WadzPay is riding high on government approval in Dubai, with the Virtual Assets Regulatory Authority approving the coin for sale in the region. The coin has also seen a major spike in trade volume, rising by 64% over the last 24 hours.

Transactions are fast and secure on the WadzPay SaaS platform, and the token has become much more visible over the last few weeks. It uses distributed ledger technology and was part of the Digital Currency Conference this year.

Where Might WadzPay Be Headed?

For Wednesday, WadzPay is down 5.52%, correcting its price slightly after the massive surge recently. That is to be expected, and it could just be a minor hiccup in an otherwise stellar performance for the coin for the start of the month.

With new interest focused on the token, there is a strong chance that it will surge some more before the week is up. This token has managed to outperform most other crypto coins over the last month and is well above the average level of movement for the market.

We anticipate that the coin will retain much of its momentum for the next few weeks and continue to surge. However, we probably will not see gains as high as they were for the last 30 days, and instead we will probably witness much smaller but still substantial gains from WadzPay in the coming weeks.