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With almost 17,000% gains in the last five years, the recent dip in the WAVES coin price brings an amazing buying opportunity for long-term investors.
Waves blockchain has surprised the crypto community since the start of 2018. The coin price hit a record high of $41.33 in May 2021. It has seen a remarkable growth rate of more than 1,000% over the last 12 months. Hence, it is one of the most talked-about cryptocurrency assets.
Waves is a cryptocurrency that has great potential, thanks to all of these accomplishments. It uses a variant of the proof of stake (PoS) consensus mechanism, called leased proof of share (LPoS). This LPoS of the blockchain is the best because it allows full nodes to make a profit from producing new blocks within the platform.
This WAVES price prediction will show us if it will hit $100. Before we get to that, let's learn more about Waves, its history, and technical analysis of the current market position.
What Is Waves?
Waves Blockchain is designed to allow users to launch and create custom crypto tokens. It allows the creation and trading of crypto tokens without the need to use complex smart contract programming. Instead, tokens can instead be created and managed using scripts that run within the user accounts.
The idea behind this is that new tokens and the applications that govern them should not be significantly different from the launch of a traditional web app.
Programs and applications can be attached to transactions in order to achieve this goal. New assets receive a unique identifier. Only scripts can be attached to assets when they are created.
These assets can be traded within the ecosystem, which also includes its own decentralized exchange. The exchange is designed to facilitate trade between tokens made on the Waves blockchain and other tokens.
In 2018, the smart contract functionality was added to Waves MainNet by the developer's team. This allows third parties to create decentralized applications (dapps) using the platform's MainNet. The dev team also launched the Waves Enterprise in 2019. This version is for institutions.
How Does It work?
Waves aims to provide its users with the functionality galore of Decentralized Finance (DeFi). It also makes it easy for users to reap the benefits of the user-friendly interface. The platform is a multi-chain project that rivals Ethereum and offers many solutions for its users. It brings together multiple Blockchains into one network.
The blockchain is a pioneering peer-to-peer project that was executed using a peer-to-peer network. It has many benefits, viz. It offers a shared security system that includes parachains and relay chains, as well as impeccable governance. The improved infrastructure provides many functionalities for staking and operation. Blockchains have overflowed the financial landscape, and there are many mini tokens that can be used to separate the ecosystem.
The functionality of the platform relies on being unique and prevailing over the crypto-agnostic landscape. It's a native token is known by the same name as the platform. It has three main purposes: governance over the network, staking, and bonding.
Why Does the Token Have Value?
The blockchain network is operated and maintained in part by the WAVES token. It can be used to create custom tokens or to pay transaction fees. The supply of the tokens will be limited, as only 100 million tokens are ever available. The token owners determine who can add blocks to the blockchain, and who is eligible to receive a portion of transaction fees.
A minimum balance of 1000 tokens is required for any user who wants to become a full node. It allows users with fewer tokens to take part in mining by leasing their nodes. However, leasing costs 0.002 tokens.
All interested buyers can purchase the tokens on major decentralized exchanges. Binance, FTX, and OKEx are just a few examples. Huobi Global, Upbit, and Huobi Global are others.
Before we dive into future Waves prices or price predictions, let's look at the current price of the token in the crypto market.
Waves Token: Price Analysis
Flashback: The Fundamental Analysis of Waves
WAVES/USD Last Five Years
According to CoinMarketCap, the current price of Waves at press time is $22. It has 106 million coins in circulation and a market capitalization of $2.35 billion. Meanwhile, the cryptocurrency ranks at 67th position, according to Coinmarketcap.
In the past 30 days, the coin price has fallen by more than 30% due to an increase in supply near the $32.5 mark. Thus, resulting in a downfall close to the $20 mark. Moreover, the coin price is 48.6% lower than its all-time high of $43.01.
However, taking the big picture into account, the coin price indicates a 400% jump in the past year alone. And, over the last 5 years, the coin price has increased 16803.2% from its all-time low of $0.130878.
WAVES/USD Daily Chart on TradingView
In the daily chart, the coin price is at the support zone near the $21 mark providing a suitable reversal spot for the bulls. However, the lack of buying volume makes it very difficult. Thus, the chances of fallout are very high. Hence, traders can find shorting opportunities even at current prices.
The Relative Strength Index (RSI) is at 49.66, which means that the coin price is in a neutral state. This may lead to a price reversal at any given time. Therefore, traders must trade crypto wisely and can find a boom in coin prices soon. Keeping all this in mind, traders can find entry spots upon reversal or at a downfall to the $18 mark.
Let us now look at the future Waves price prediction.
Waves Price Prediction 2021
The new record high of $43 has caused the token to fall in price. But, by 2021, the coin price is expected to hit $50.
Waves Price Prediction 2022
Based on historical data for one year, it is possible to predict that coin price will be up by 2022 with its blockchain platform becoming independent of Ethereum base. Its price could reach $62.
Waves Price Prediction 2023
The coin price will see 2022 as the end of the worst and most pessimistic days in cryptocurrency. This could signal the dawn of new hope and promising times ahead. The price of the crypto-asset would be anywhere from $65 up to. $75.
Waves Price Prediction 2024
The crypto asset will reign the crypto market with a performance of $85.
Waves Price Prediction 2025
The token investors will be attracted to more investors by the bullish momentum that has been built after the $90 break. Therefore, the coin price may surpass $100 by 2025.
Waves Price Prediction: Market Sentiment
Below you will find the price analysis of WAVES coin by different media outlets.
Digital Coin Price
Digital Coin price predicts the upcoming years of the token's future will be bullish. The coins will be worth $50 by the end of 2023. A single token will have a potential value of $100 in 2028.
Wallet Investors
Wallet Investors maintains a bullish sentiment for the token. As per the site, the coin price will reach $65 by 2024. And, by 2026, it will be worth more than $97.
Gov Capital
In contradiction to Wallet Investors, Gov Capital predicts a fast growth rate for Waves in the upcoming years. It forecasts the WAVES coin will be worth up to $69 by 2025.
Trading Beasts
The Waves price is predicted to cross $50 by the end of 2024. The expected maximum price is $55, and the minimum price is $37.49. The Waves price prediction for the end of 2024 will record a 35% price change.
Crypto Ground
Being based on the logical algorithm, Waves has both short-term rallies as well as potential long-term advantages. The coin price may reach $40.01 at the end of this year.
Our Waves Price Prediction
Based on WAVES' record in the cryptocurrency market, we think WAVES can be a good investment. Token users must still research the token and do their due diligence as both a trader and investors.
Waves team members have also been found to have close ties with financial institutions. Russia’s National Settlement Depository was its central clearinghouse. Waves were even used by Waves to develop its own internal blockchain solutions.
Investors could also look to add WAVES cryptocurrency as they believe the market may one-day favor protocols designed to facilitate custom tokens.
According to Waves Price Prediction 20201, the WAVES Coin's value will be $50 in December 2021. Then, it will go up to $100 by 2025.
Conclusion
Waves' rise may lead to some investors trying to make a profit as soon as possible if the prices give a bullish reversal near the $21 mark. Waves may retreat and investors might decide to buy the dip if the prices give a fall to the $18 mark. Waves' token supply is at its limit. As a result, the token will continue to be appreciated as more people request it.
Waves is a decentralized financial platform that aims to provide its users with all the functions of DeFi (decentralized finance). It also makes it easy for users to reap the benefits of the user-friendly interface.
The WAVES Coin's price projections on social media signal that it will be worth more than $100 by 2025.