Waves Price is up by 9.53% – Time to buy WAVES?
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- Waves Labs Announces US Expansion. Time to buy WAVES?
- WAVES is up 100% in a week following Binance integration
- Allbridge Announces Partnership with Waves
Waves (WAVES) has experienced an increase in price, gaining 9.53% in the previous 24 hours, encouraging investors to buy WAVES.
The global open-source platform may be used for different purposes, including decentralised applications (DApps) and smart contracts. It was designed to appeal to potential business clients interested in using blockchain to improve processes or build new services.
Waves Labs Announces US Expansion
Waves Labs, situated in the United States, has unveiled its 2022 roadmap, ambition, and growth strategy for developing the Waves blockchain ecosystem.
The company has a target of 5 million monthly active users and $10 billion in total value locked (TVL) within its layer-1 blockchain and projects developed on top of it. According to the company, the goal has been to focus on producing fantastic blockchain solutions.
The organization intends to meet its objectives by appointing competent leaders who can effectively deploy its Ecosystem money. They have also stated that they will concentrate on supporting and incubating ideas that have the most potential value to the Waves Ecosystem.
WAVES Token Surges by 200% In a Week after Binance Integration
Recently, WAVES more than doubled in value when Binance announced that it would accept the coin as collateral on its lending platform.
As a result of the announcement, the token’s trading volume increased by more than 200%. Waves is an open-source blockchain project that allows users to create scalable apps.
The project has a market valuation of $1.6 billion, according to its website, and averages 65,000 daily transactions. The total number of Waves tokens in circulation is 108 million.
Waves collaborate with Allbridge
Allbridge recently announced its new partnership with the blockchain platform via its Twitter account.
The DAO-style multichain hub is a straightforward, modern, and dependable system for transferring assets between networks. It links Ethereum Virtual Machine (EVM) and non-EVM compliant blockchains, with an intent to cover L2 solutions and NFT transactions eventually.
Waves, the hub explained, is a seasoned participant in the market, having been around since 2016. As a result, it offers a secure and scalable experience to its users.
With Waves on board, Allbridge will be able to offer a variety of DeFi functionalities. According to Allbridge, the purpose is to build a one-of-a-kind bridge between Waves and supporting EVM and non-EVM chains like NEAR Protocol, Solana, and Terra.
Waves Technical Analysis
At press time, the price of Waves is at $55.40, up 9.53% in the last 24 hours. It has a 24-hour trading volume of $3 billion and a live market cap of $5 billion.
The technical indicators of WAVES show a bearish value. The crypto asset is now trading across the 23.6% Fibonacci retracement threshold of $55.48; WAVES may see resistance but will likely rise past the indicator price if the general crypto market value increases.
The Relative Strength Index (RSI) of WAVES stands at 36.18. This shows that the asset is trading close to the underbought region; it is a good time for investors to buy WAVES and keep rising with the market.
Furthermore, the crypto asset is trading below the trendline, with a 50-hour Simple Moving Average (SMA) value of $56.17. This shows that the asset is bearish. In addition, the Moving average convergence and divergence (MACD) show a strong sell sign.
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