Waves Coin: A Smart Investment Decision?

Waves (WAVES) is a blockchain platform founded by Sasha Ivanov in 2016. It is a multifunctional platform that allows users to create and develop custom coins and tokens. The platform also enables decentralised trading and crowdfunding, and supports both fiat and cryptocurrencies. The WAVES coin has had a turbulent history, with its value soaring and plummeting at various points since its launch. So, is Waves Coin a good investment?

Waves' performance against other cryptocurrencies

As of 27 April 2022, Waves (WAVES) was one of the few cryptocurrencies that was still in the black for the year. However, it had lost 74% of its value since the end of March and was trading at $16. The WAVES coin launched at $1.33 in June 2016 and climbed to $18.07 when cryptocurrency markets rallied in December 2017. The price then fell to $6.68 in the January 2018 sell-off and briefly moved below $1 towards the end of the year.

WAVES traded between $0.50 and $4 until November 2020, when the price began to climb along with other cryptocurrencies, led by bitcoin. The price soared to $41.33 on 4 May 2021 but dropped back to $12 by the end of the month. The coin then bottomed out with the rest of the markets on 21 July, trading down to $11.68 before rising to $34.81 on 9 September. After a dip to $21.03 towards the end of the month, the price spiked again to $34.56 in mid-October.

With the cryptocurrency markets under pressure since late last year, the coin’s price retreated and dropped to $7.64 on 24 January 2022. But it soared again from 24 February, rising from the $8 level back above $34 on 19 March. It peaked at $59.13 on 30 March. It then went into sharp decline, falling below $16 on 27 April.

In terms of market cap, WAVES is ranked #283, with a live market cap of $123,431,418 USD. Its market cap is measured by multiplying its price with the circulating supply of WAVES tokens (100 million tokens are tradable on the market today).

WAVES has underperformed when compared to similar Smart Contract Platform cryptocurrencies, with a price decline of -9.30% in the last 7 days, while the global cryptocurrency market is down -0.90%.

As for price predictions, Wallet Investor projected that the WAVES price could rise to $30.2 in 12 months and climb to $82.2 in 2027. DigitalCoin expected the price to average $24.05 in 2023, up from $21.41 in 2022, and rise to an average of $32 in 2025 and $75 by 2030. PricePrediction expected a more subdued 2022 at $39.78, but the price to rally at an accelerated pace in the coming years, averaging $123 in 2025 and soaring to $790 in 2030. Gov Capital predicted that the coin could rise from $30.8 in 12 months and $130 by April 2027.

The potential for the WAVES coin price

WAVES is a blockchain platform founded by Sasha Ivanov in 2016. It is multifunctional and enables the creation of custom coins, which can be further developed and traded for other tokens or assets. The platform also supports decentralised finance (DeFi) apps and has a low carbon footprint due to its Proof-of-Stake (PoS) consensus mechanism.

WAVES has a high network speed, allowing hundreds of transactions per second with a small commission, making it convenient for transferring cryptocurrency between network members. It also offers decentralised exchange (DEX) capabilities, fiat currency gateways, and the ability to create custom tokens.

The price of WAVES has been volatile. It initially launched at $1.33 in June 2016 and climbed to $18.07 in December 2017. However, it fell to $6.68 in the January 2018 sell-off and even briefly moved below $1 towards the end of that year. In November 2020, the price began to climb again, reaching a high of $41.33 on 4 May 2021. Since then, the price has retreated, and as of 27 April 2022, it was trading at $16.

Some forecasts indicate that the WAVES price could reach the $100 level by the end of the decade. Wallet Investor, for example, projects that the price could rise to $82.2 in 2027. PricePrediction's forecast is even more bullish, with an expected average price of $790 in 2030. However, it is important to note that analysts and algorithm-based forecasters can and do get their predictions wrong, and they should not be the sole basis for investment decisions.

The use case for WAVES

Waves is a blockchain platform founded by Sasha Ivanov in 2016. The platform is multifunctional and has the main goal of producing custom coins. These coins are further developed and transferred in the exchange of custom tokens or other assets through the blockchain.

The Waves platform not only releases the Waves Coin but also thousands of other kinds of tokens. The majority of these coins go through an ICO and possess massive potential. The Waves platform supports fiat currencies like USD/CNY/EUR and cryptocurrencies like Bitcoin, Ethereum Classic, and others. The list is ever-expanding.

The Waves Coins have a high network speed that allows hundreds of transactions per second. The commission, however, is very small, making the transfer of cryptocurrency convenient between the network members.

The Waves platform allows its users to create custom tokens and name them. The choice of crypto coins to issue and the decimal fractions to keep is also the user's. This works well for crowdfunding.

The platform stores the transactions that are made between cryptocurrency and fiat or fiat to cryptocurrency, allowing the mixing of the best of both centralized and decentralized systems.

Waves is a great blockchain company with lots of innovation and promise. It has a good DAX (decentralized exchange) that is still in development, and fiat integration is in the works.

Waves is the first exchange that is a wallet and an exchange at the same time. This has earned it the support of Deloitte as one of its main partners.

Waves DAO Crypto Association, operating as a decentralized autonomous organization (DAO), is a non-profit organization focused on research and development, grants, and educational initiatives.

The user-friendliness of creating your own coin on the platform is a huge gain. If more large companies start setting up their own coin on the Waves platform, the WAVES price will shoot very high.

The WAVES coin's history

The WAVES Coin, or the Waves Platform, was launched in June 2016 by Ukrainian or Russian entrepreneur Alexander (Sasha) Ivanov, a graduate of Moscow State University. The platform raised $16 million in its launch campaign, becoming one of the largest in terms of funds raised through crowdfunding.

The Waves Platform allows users to create their own custom tokens in less than a minute and use them for projects such as crowdfunding, loyalty reward programs, and in-app currencies. The platform has been described as a cryptocurrency version of the Kickstarter crowdfunding platform.

The Waves coin (WAVES) is the platform's native currency. It can be used to create a trading pair with a self-made coin on the Waves decentralised exchange (DEX). There are two ways to acquire the currency: by installing the Waves client on a computer and using its DEX to exchange fiat, Bitcoin, or Ethereum; or by acquiring WAVES through a third-party centralised crypto exchange.

The Waves Platform initially intended to improve on the original blockchains by offering increased speed and utility in a user-friendly way. The project has since added new features and made various changes. Its focus now is on providing an open-source platform for decentralised applications (DApps) using Proof-of-Stake (PoS) consensus to process transactions with a low carbon footprint.

In September 2018, Waves introduced smart contract functionality to the platform. The new features include multi-sig addresses, token freezing, atomic swaps, and voting. Waves’ smart contracts use a new programming language, RIDE, specifically made for the project.

The total WAVES token supply is 100 million. The Waves platform had more than two million user wallets at the start of 2022.

The pros and cons of Waves

Pros

• Waves is a blockchain platform founded by Sasha Ivanov in 2016. It is multifunctional and enables users to create custom coins, which can be further developed and traded for other tokens or assets.
• It is the first exchange that doubles as a wallet and an exchange.
• Waves has a high network speed that allows hundreds of transactions per second.
• The commission for transferring cryptocurrency between network members is very small.
• Waves guarantees complete anonymity to its users, except for some specific operations.
• It supports fiat currencies like USD, CNY, and EUR, as well as cryptocurrencies like Bitcoin and Ethereum Classic.
• It allows for decentralised trading and crowdfunding.
• It is possible to create your own personal token and exchange it for other tokens or convert it into fiat currency.
• Waves is a minable coin that can be mined through computer equipment or by lending and borrowing Waves.
• It has a good decentralised exchange (DAX) that is still in development.

Cons

• Waves had a turbulent beginning after its IPO in 2016, with the WAVES token collapsing to an all-time low of $0.1227 from $1 on August 2, 2016.
• The smart contract of Waves Coin is not as complex as Ethereum's, which may cause issues related to transactions.
• KYC/AML is required if you want to withdraw or deposit fiat currencies.
• Waves is not the only platform that facilitates the creation of custom coins. Ethereum and NEO are competitors, and there are enough blockchain platforms to call the market saturated.

Frequently asked questions