What is Waves crypto & its price prediction?

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What is Waves crypto & its price prediction?

Waves crypto network
Image source: Pixabay.com

Highlights

  • Waves crypto claims to offer a wide range of services including creation of stablecoins
  • The network is competing with high market cap blockchain networks like Ethereum and Solana
  • WAVE crypto is trading below its all-time high price, but this is the case with nearly all cryptos

The crypto investment space may be subdued at this time, but the competition in the blockchain network space is heating up.

Though Ethereum, Solana, Cardano are the major contenders with each boasting a high market cap, the race to the top has other formidable competitors as well. New decentralized finance (DeFi) apps and all other blockchain-based solutions use the services of these networks.

One such player in the field is Waves, which has a native WAVES token.

What is Waves crypto?

It claims to be an ecosystem for developers looking to build and deploy blockchain-based solutions. In the crowded space, Waves’ blockchain network facilitates smart contracts and decentralized apps.

The network consists of a protocol that allows creation of new stablecoins (pegged to assets like the US dollar); a DeFi by the name swop.fi; a liquidity creation platform; and even a blockchain game with the underpinning of non-fungible tokens (NFTs).

Also read: Polygon 2025 price prediction: Can MATIC stave off competition?

Waves token

Waves token works within the ecosystem of the network. Waves can be traded on exchanges including Binance and Huobi Global.

Waves token ranks among top 100 cryptos by market cap in the CoinMarketCap listing. Its market cap is over US$1 billion. By these measures, Waves remains a very close watch in 2022.

Waves token price

WAVES is trading at nearly US$9.7 as of now, but it was priced approx. US$14.5 at the start of 2021.

WAVES crypto price prediction

Waves has manifested extreme volatility. It touched a high of almost US$36 in early May 2021, after a sharp rally in the last days of April pushed the price.

The price plunged to almost US$12 by mid-July, and Waves crypto ended last year at approx. US$15.

Waves price in the coming days would depend on how other major cryptos like Bitcoin behave in the near-term and on how the decentralized apps built on the network prove their worth. Waves crypto may hover between US$15 and US$25 at the end of first quarter if both these factors remain positive.

Waves crypto price in 2022

Data provided by CoinMarketCap.com

Also read: Is crypto dead & what is in store for blockchain in 2022?

Bottom line

The crypto market is on a downward slide right now, similar to the stock market. For Waves crypto to rise, the wider crypto market will have to pull off a major comeback. That said, nothing can be certain in the volatile world of cryptos.

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