Why WAVES Is Up 12% Today
KEY POINTS
- WAVES is rising drastically as its blockchain prepares for big changes.
- With so many users experiencing issues with Ethereum, the coins of other blockchains could experience major jumps should these networks prove to be viable alternatives to Ethereum.
Will WAVES continue to rise, or is the coin about to experience a low tide?
In today's cryptocurrency news, WAVES, the native token of the Waves blockchain, rose 12%, continuing its dramatic increase from the last week, in which it gained over 100%. The Waves blockchain offers good functionality for users and developers alike, and could be a popular alternative to Ethereum soon. With such a large and consistent rise in value for the WAVES token, what makes this coin so special?
Making WAVES
The Waves blockchain offers users the services of a non-fungible token marketplace, a cryptocurrency exchange, an NFT-based gaming portal, and much more, supporting decentralized applications and smart contracts. One of the goals of the Waves blockchain is to improve upon early blockchain technology by increasing efficiency, utility, and user-friendliness.
Many users have found the Ethereum blockchain to be sorely lacking in these three qualities lately, and if Waves can offer a blockchain that is faster, has a wider range of uses, and is easier to understand than Ethereum, this blockchain could be a very popular alternative for those seeking to leave Ethereum behind. With so many looking for a substitute for Ethereum, WAVES, the native token that fuels every transaction on the Waves blockchain, is seeing major boosts in value.
The waters ahead
As blockchain technology continues to evolve, the blockchains that are able to continually improve and learn from their own mistakes will best be able to thrive. Ethereum was unprepared for the unprecedented volume of users trying to complete transactions at one time, and many users were hammered with exorbitant transaction fees. If Waves can improve upon Ethereum, the token will continue to rise in value. Waves Enterprises, a fork of the original Waves blockchain, is already in the process of converting from a centralized organization to a DAO, adapting to meet the needs of the environment that they are in. If they continue to make choices like this, the value of WAVES may continue to rise.
The bottom line
The native token of the Waves blockchain has been steadily rising in value over the past week, and continues to soar today. The Waves blockchain's mission to improve upon existing blockchain technology seems to be causing many users to flock to this chain as an alternative to Ethereum. If the blockchain continues to improve itself and succeed in becoming faster, easier to use, and more capable than Ethereum, WAVES is likely to increase in desirability and therefore, overall value. The cryptocurrency market is notoriously volatile, however, and should something go wrong, WAVES can fall just as fast as it rose.
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Our Research Expert
Katie Clinebell is a freelance content creator and digital marketing strategist for FinTech, blockchain, and crypto brands. She has created award-winning campaigns for Snapple and Tai Pei Frozen Asian Food and received an Adobe Academic Achievement Award for content about Olympic athletes.
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