Despite the fact that the crypto market has been displaying a bearish run since the beginning of the year, some potential tokens surge up. Though many altcoins follow the same suit of leading cryptocurrencies, some work as per their developments. Some ecosystem developments and new feature implementations have aided the tokens in rallying to a high price.
From the evolution of blockchain technology, the crypto sector has grown exponentially while its popularity and adoption are massive. As some altcoins rallied up in price action during the bear market, Waves also surged nearly 70% within a week.
Waves is a blockchain that allows users to develop and launch unique cryptocurrencies. Waves allow you to create and trade crypto tokens without having to learn how to construct smart contracts. Rather, tokens can be produced and maintained using Waves blockchain programs that run in user accounts.
Current Market Status
At the time of writing, Waves (WAVES) was trading at $21.36 with a trading volume of $1 billion in the last 24-hours. According to CoinMarketCap, WAVES surged up 15.39% in the past 24-hours and 70% up for the past week. Moreover, it holds the 48th position by market cap value with a current circulating supply of 107,672,644 WAVES coins. It is available to trade in top exchanges such as Binance, OKX, Bybit, FTX, and Mandala Exchange.
Trading Chart Of Waves (Source: Coinmarketcap)
The chart of WAVES depicts a bullish run for the past week which has rallied from $12.7 to $21.36. Following the announcement of the Waves network migrating to Waves 2.0 is the foremost reason behind the surge of the token. Next lies the big partnership with Allbridge which is a protocol that focuses on transferring assets between all blockchain networks.
Significantly, the new updates and implementations by its network supported the price action of the cryptocurrency. These updates and partnerships were carried out for the bigger goals of Waves 2.0. However, the network has more plans to establish which will help in price surge in the next term.