When will Wavesplatform (WAVES) start making waves in crypto?

Waves platform’s price action hasn’t been that impressive throughout this last month. September 20th peak of $2.37 was retested on the 23rd and 26th, with a low of $2.07 sneaking in between on the 25th. The first third of October was relatively stable as the currency hovered around $2.10 before October 10th brought around some negative price action which affected the entire market. Waves suffered as well, falling from $2.13 on the 10th towards a monthly low of $1.87 on the 11th, after the daily trade volume peaked up to $12.5 million. The recovery from these lows was swift as WAVES jumped to $2.21 on the 15th. From here onwards the currency remained on a slightly corrective trajectory, hovering around $2.00 during the last couple of days.

At the moment of writing, WAVES can be purchased for $1.88 USD (-1.30% drop in the last 24 hours)/0.00029140 BTC (-0.81% drop in the last 24 hours). This value is 88% lower from the currency’s all time high of $16.59 and also showcases a drop of 8.11% during the last 30 days. Daily trade volume is sitting at $6,486,646, most of it coming from Tidex (54%) and Waves Decentralized Exchange (11%). With a market cap of $188,229,592, Waves  is currently the 44th most valuable cryptocurrency in the world.

Trader rludvik posted the following trading idea:

“Last time WAVES hit stop loss, but let’s try again. This time idea is to enter near the channel bottom with stop loss a little bit bellow (I’m OK with 3% loss) and target at 0.382 Fib retracement level. I won’t close the whole trade here, if conditions will be good – “spare” target is at next Fib level. If it won’t drop to channel low, I’m willing to enter with smaller mount on breakout at 31k8 and the same targets for start.“

Check out his chart and give him a thumbs up of you like his idea here.

Waves recently released a monthly overview of their September activities and there was plenty of interesting stuff for everyone in there. Regarding development, project’s Node team were quite active as they completed the Node Release v.0.14.6 on the Waves MainNet. Version 0.15.0 of the software is deployed on the TestNet to determine its functionality.

Alongside this release, the project saw a new system protocol implemented which made Waves a Smart Accounts-capable platform. Smart Accounts were activated on 26 September after they were unanimously accepted by miners voting. Mentioned v 0.15.0 should come with tradable Smart Accounts. DEX Matcher was tweaked to become faster, more stable and more pleasant to use. Smart Assets, sponsored transactions, desktop app authentication, new languages support, Ambassadors program were among the features that were newly introduced in the previous month and you can read about them more here.

The month of October started off a bit slower but a major update was released just days ago. Waves Keeper browser extension was introduced; it’s an extension which turns your browser into a keychain that enables you to sign transactions securely on third-party web resources without entering your seed or password. If a Waves-integrated platform requires a transaction to be signed off, users can now do that with a few browser clicks if they have the Keeper installed.

All the implemented updates made the Waves network more robust, versatile and sophisticated, creating a blockchain platform with quality features that many businesses should enjoy when creating their own Waves-based projects. We’ll just have to wait and see how many and if any projects actually decide to do so.

As long as the bellwether of crypto, bitcoin, stays in the bear market – Waves and the rest of the altcoin crew has nothing else to do but improve their platform and wait for the greener times to come upon us again. Those that survive and prepare themselves best for the bull market will reap the benefits.

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Dobrica Blagojevic
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