Waves Platform (WAVES) Price Spikes after Smart Contract Launch Announcement

The often overlooked Waves platform saw a strong gain in price against the general downward trend among altcoins, as the project announced an important development milestone.

The Waves platform (WAVES) lined up among the strongest gainers on Tuesday among a continuing downturn of altcoin prices. WAVES started its upward trend on Monday morning (UTC), jumping from around $1.90 to a temporary peak of $2.56 in about an hour. Volumes also picked up, and WAVES reached another peak at $2.61 shortly after midnight.

The impressive jump of some 37% followed the announcement that WAVES unleashed the opportunity to run smart contracts on its mainnet:

https://twitter.com/wavesplatform/status/1039174194574094336

Compared to three months ago, however, WAVES price remains lower, unraveling from around $3.92, and from 0.0005 BTC down to 0.0003 BTC presently. During the bull market, WAVES reached an all-time high of $18.07 on December 19, 2017, quickly sliding after that. This makes WAVES one of the assets that wiped out as much as 90% of their value since peak prices.

The WAVES platform allows for the tokenization of any asset, including a way to park Bitcoin (BTC) and other crypto assets and turn them into WAVES-based tokens. WAVES has a supply of 100 million tokens, close to Ethereum (ETH), which shows a circulating supply of 102 million units. However, the WAVES tokens are currently priced much lower, as the platform and its economy are less developed.

The other downward pressure on WAVES is the fact that the asset trades mostly against BTC (on Binance, Tidex, and Bittrex), and suffers from the loss of trust in altcoins. The price is also easily moved by BTC manipulation.

WAVES  has so far failed to reach the predictions for a higher price, but has remained hopeful it would gain in value for being one of the prominent platform coins. WAVES is proud of attempting to achieve records in transaction capability. The platform regularly lines up as one of the more active networks based on Blocktivity data, with an average of 52,911 daily transactions in the past week.

Since September, the WAVES digital asset is also fully integrated with the Ledger hardware wallet ecosystem, making the assets more accessible for secure storage.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.