Real-world adoption and a growing DeFi ecosystem help lift the price of WAVES to a new all-time high. Real-world adoption and the ability to service the needs of a wide range of industries are key qualities to have for blockchain projects that seek long-term viability in an increasingly crowded and evolving landscape.
One cryptocurrency project from 2016 that has seen its price breakout to new highs in May is Waves (WAVES), a multi-faceted blockchain protocol that has seen significant growth in 2021 thanks to recent strides in decentralized finance (DeFi), nonfungible tokens (NFT) and real-world adoption.
Data from Tradingview shows that after hitting a low of $12.22 on April 25, the price of Waves has swelled more than 205% to a new all-time high at $37.61, with a record $1.24 billion in 24-hour trading volume leading to a 60% spike in price on May 3.
The spark that led to the double-digit rally over the past week coincided with the announcement that Waves Enterprise had partnered with the Russian space agency Roscosmos to test a tool that utilizes blockchain technology in preventing intellectual property infringement.
Momentum for WAVES has continued to build following the Roscosmos announcement thanks in part to the ongoing promotion of the Wave EGG NFT campaign, which engages community members and allows them to do tasks to earn EGG tokens and mint unique NFTs.
DeFi on Waves has also seen significant growth as evidenced by the network’s Neutrino stablecoin protocol surpassing $1 billion in total value locked on April 29. The spike in the price of WAVES on May 3 was preceded by the May 2 tweet from the decentralized oracle provider Chainlink discussing its WAVES/USD data feeds that can easily be integrated into DeFi markets.
Additionally, social sentiment has also surged in tandem with price, according to the latest data from TheTie. In fact, the long-term sentiment score has risen from 53 to 93 in less than a week alongside a similar spike in Tweet volume.
With momentum still building due to active DeFi and NFT communities as well as real-world use cases catching the eye of governments and corporations looking to integrate distributed ledger technology, the WAVES protocol is a project to keep an eye on as blockchain adoption continues to expand into mainstream society.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 75.6% | 43 | $71 318.80 | 3.41% | 7.28% | $1 402 605 034 869 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 76.4% | 48 | $3 582.21 | 1.97% | 2.56% | $430 123 035 144 | ||
3 | USDT | Tether predictions | 95.6% | 1 | $1.000154 | 0.07% | 0.01% | $104 470 239 649 | ||
4 | BNB | Binance Coin predictions | 65.2% | 79 | $584.92 | 2.65% | 4.90% | $87 466 656 445 | ||
5 | SOL | Solana predictions | 56.8% | 89 | $187.64 | 3.53% | 1.54% | $83 364 975 832 | ||
6 | XRP | XRP predictions | 82.4% | 31 | $0.622932 | 1.84% | -2.09% | $34 189 161 088 | ||
7 | USDC | USD Coin predictions | 94.4% | 2 | $1.000051 | 0.02% | 0% | $32 218 530 821 | ||
8 | DOGE | Dogecoin predictions | 65.6% | 68 | $0.216701 | 14.21% | 40.63% | $31 129 943 380 | ||
9 | ADA | Cardano predictions | 68.8% | 67 | $0.655944 | 3.12% | 3.51% | $23 339 268 058 | ||
10 | AVAX | Avalanche predictions | 56% | 88 | $54.78 | 2.57% | 0.70% | $20 673 609 802 | ||
11 | SHIB | SHIBA INU predictions | 56.8% | 94 | $0.000032 | 6.16% | 17.46% | $18 794 460 335 | ||
12 | TON | Toncoin predictions | 58.4% | 88 | $5.07 | 2.58% | 22.92% | $17 591 962 049 | ||
13 | DOT | Polkadot predictions | 70.4% | 52 | $9.59 | 2.05% | 3.31% | $13 690 708 606 | ||
14 | LINK | Chainlink predictions | 74.4% | 42 | $19.34 | 0.76% | 4.81% | $11 352 446 788 | ||
15 | BCH | Bitcoin Cash predictions | 70.4% | 60 | $566.47 | 5.58% | 34.29% | $11 149 045 396 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.