Waves Protocol Price Up by 66.75%- Time to Buy WAVES Coin?
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- The Crypto market has a market cap of $2.14 trillion, indicating a 1.27% increase in the last day, a great opportunity to buy WAVES
- Waves protocol excels in yield farming projects with Waves exchange
- Waves set on building interchain transfers with Allbridge partnership
The Waves protocol is one of the gainers in a largely bullish crypto market. This has since boosted investors’ confidence in the multi-dimensional blockchain projects spurring investors to buy WAVES.
Understanding the project’s fundamental and technical performances would go a long way in answering the question, should I buy WAVES now?
Waves Launches Exchange Platform For Yield-Generation
Waves has exceeded expectations in recent weeks due to several factors.
The Waves protocol recently launched its exchange platform where investors can make explosive profits using the yield farming feature. The Waves exchange is considered the easiest way to access Decentralised Finance (DeFi) at the lowest fees. The platform promises users an easy onboarding process that emphasises anonymity and privacy and does not require KYC. Users are granted governance; they can vote on adjusting major parameters such as fees and interest rates on the platform.
The Waves exchange promises investors up to 91% in Annual Percentage Yields (APY) liquidity pools, up to 64% APY in Lambo investments, and 21% APY in Liquidity Pool Staking.
Waves Partners Allbridge For Cross-Chain Interoperability
The Waves protocol has also entered a strategic partnership with Allbridge to establish its presence on multiple networks as part of its strategy to build cross-chain interoperability. With the imminent Waves 2.0 shift, users of the wave protocol will access to more tools on other blockchains. The strategy will increase the protocol’s adoption and encourage investors to buy WAVES.
Technical Analysis Of WAVES
WAVES has been on a bullish trend in the last few weeks. The crypto asset has only traded in the green zones in the last 24 hours. It still shows prospects of maintaining this trajectory.
WAVES is currently trading at $48.67 and has recorded a 51.10% increase in the last 24 hours, with a live market cap of $5.7 billion, dominating 0.27% of the entire crypto market.
The digital asset is currently trading above the 50-day Moving Average Exponential (EMA) value of $36.76. It is also trading above the 100-hourly Simple Moving Average (SMA) value of $16.73, even below its 61.8% Fibonacci retracement value of $18.90. WAVES has risen above its 23.6% Fibonacci retracement value of $45.50, and minor retests will only see the asset at such price ranges.
With a Relative Strength Index (RSI) value of 88.95, the digital asset is trading in the overbought region. However, the crypto asset has not reached the saturation point, investors can buy WAVES to yield more profits.
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