Waves Price Up By 6.52% – Time to Buy WAVES Coin?
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- First DEX aggregator Puzzle Swap launches on Waves blockchain spurring investors to buy WAVES
- On-chain transactions are up, per data from DeFi Llama
- The newly released Waves Enterprise roadmap points to an exciting future ahead
The crypto market is seeing some signs of recovery after a faltering start to the year. Following a closing round in 2021, the nascent financial sector consolidated sharply with total value locked (TVL) dipping below $2 trillion for the first time ever. However, the bulls are finding their feet once more and several protocols are seeing remarkable growth in the last 24 hours. One of such is the Waves blockchain which has seen a decent price surge from a prior decline. This rally has seen several investors plan to buy WAVES.
The Waves protocol is a new-generation blockchain platform that enables users to create and launch custom crypto tokens without the need for extensive smart contract programming.
This way, development teams and users can easily create tokens via scripts that operate as user accounts on the Waves blockchain.
The core belief of the Waves development team is to make the creation of blockchain-based assets as easy as launching a conventional web application.
The Waves blockchain may not be a top crypto project but the digital token has continued to show real promise. This rally might present an ideal opportunity to buy WAVES and stock up on the digital asset.
Puzzle Swap Launches on Waves Protocol
The protocol’s decision to combine the old with the new is paying off. That is, making it easy for traditional development teams to launch custom tokens without the need to learn smart contracts programming has seen a number of blockchain protocols flocking to the Waves blockchain.
One of the most recent examples is decentralised exchange (DEX) aggregator Puzzle Swap – which is the first DEX aggregator to launch on the Waves blockchain.
A DEX aggregator helps decentralised finance (DeFi) users easily find the best prices for selected digital assets. This way, DeFi users can easily find the best deal without needing to scour the entire crypto space.
Puzzle Swap’s launch on Waves protocol is an exciting prospect for the Waves community given that DEX aggregators are a highly sought-after service as crypto adoption continues to rise. This points to a growing use case making now a great time to buy WAVES.
On-chain Transactions Are Up
In the heated DeFi ecosystem race, Ethereum still leads the rank with over 90% of the fledgling ecosystem tightly within its grabs.
However, a series of new competitors are already springing up and Waves on-chain transactions currently stand at $837.69 million, up 14.18% in the last 24 hours.
This currently puts Waves on-chain activity at 14th. With rising interest in the DeFi sub-sector, more investors would turn to outliers like Waves for record yields.
2022 Roadmap is Live
Thriving on continued development, the Waves protocol has recently released its roadmap for the coming months and all indicators pointing to a growing ecosystem.
In Q1, 2022, will be making a number of releases and upgrades including adding support for hardware wallets signature, safe parallel execution of smart contracts, and sharding.
The protocol would also be launching a Waves Gravity Hub for integration with several other blockchains. This points to an exciting year ahead and makes WAVES a good investment choice for several investors.
Technical Analysis of WAVES – Growing Bullish Presence Detected
On the technical analysis front, the WAVES token is showing a growing confidence and signals the presence of bulls.
The digital asset is trading at $11.02, up 6.52%. However, this is slightly below the 50-hour exponential moving average (EMA) indicator price of $12.69.
The 61.8% Fibonacci retracement level puts WAVES price at $13.44 in the event of a market recovery. The moving average convergence and divergence (MACD) point to a buy signal as the relative strength index (RSI) figure of 51.97 reinforces a growing positive outlook on the Waves protocol.
With the crypto market catching some tailwinds, this might be a great time to buy WAVES and rise with the bullish tide.
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