Waves crypto outperforms Bitcoin in 2022, what’s its price prediction?

Highlights

• WAVES, the native token of the Waves network, has performed better than BTC so far this year
• A bull run is underway in the crypto market right now, and WAVES has also appreciated lately
• In the coming months, Waves blockchain’s adoption could shape the price growth of WAVES

 

Cryptocurrencies have gained over the past 24 hours, and the aggregate market cap has now reached US$1.9 trillion, according to CoinMarketCap. As of writing, except a few, all other major cryptos including BTC and Shiba Inu have registered gains.

From here, it might be the utility of any cryptocurrency project that may add more sheen. In this light, let’s know about one project that claims to be providing a complete ecosystem for the fast and affordable development of decentralized applications.

The project is Waves crypto, which has WAVES as the native coin.

What makes the Waves crypto unique?

Almost every blockchain network, that includes biggies like Ethereum and Solana, claims to have the best infrastructure for the development of decentralized solutions including non-fungible tokens (NFTs) and decentralized exchanges (DEXs).

Waves is a network based on the widely adopted proof-of-stake consensus method, with a claim that its carbon footprint is “minimal.” The network can support the building of new NFT projects, besides what it claims as interoperability with other ecosystems. According to the project’s website, the average cost per transaction on the Waves network is US$0.018.

Also read: What’s Polkadot’s consensus mechanism & DOT’s price prediction by 2030?

The website also mentions a stablecoin project, a DEX, an NFT game and an NFT marketplace built on the Waves network.

Waves crypto’s price

With a market cap of nearly US$1.9 billion as of writing, WAVES ranked 52^nd on the CoinMarketCap list. It was trading at nearly US$17.5 per token, and both the trading volume and price were up over the past 24 hours, reflecting the same trend as in the wider crypto world.

Waves crypto’s price prediction

The rally in the WAVES token has taken its price higher than the price at the beginning of 2022. This makes the WAVES crypto a better-performing cryptocurrency so far this year as compared to Bitcoin.

Also read: Keep Network trading volume up 400%: What’s KEEP’s price prediction?

In early May last year, WAVES touched nearly US$36, but in the remaining months of 2021, the price manifested extreme volatility, plunging to as low as US$12 in mid-August. The price may breach the US$30 mark again by the end of 2022, but for this, the Waves blockchain must attract more developers of decentralized apps.

In the longer run, the Waves crypto may reach US$50, but the volatility in cryptos makes it near-impossible to predict anything about the future. A negative sentiment, including a ban on cryptos in any jurisdiction, may trigger a slide in the price of WAVES.

Data provided by CoinMarketCap.com

Also read: As Ukraine accepts crypto donations, what is Bitcoin’s future?

Bottom line

The Waves crypto has had a better 2022 so far in comparison to BTC and Ether, which are the largest and the second-largest crypto assets, respectively. Waves’ price growth is better this year than Ethereum’s.

This may mean that developers have tilted towards the Waves blockchain. In the medium-to-long term, the WAVES price might be shaped by the performance of the Waves network since WAVES is its native token.

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