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Waves (WAVES) Is Up 21% Today, and 100% the Past Week. Is Now the Time to Buy? – The Motley Fool

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by Tor Constantino | Published on June 1, 2022
Image source: Getty Images
Waves seems to have resumed its market-defying mojo, surging triple digits over the past seven days.
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According to CoinMarketCap, the price of the Waves (WAVES) alt coin traded as high as $11.28 on cryptocurrency exchanges today for a 21% intraday pump, pushing the seven-day average percentage to more than 100% as of press time. Earlier this year, WAVES saw a tidal surge of more than 240% on a steady flow of positive news announcements, but WAVES had a major crash from its $62.32 peak in March following a washout from two major developments.
Before the TerraUSD stablecoin lost its pegged value to the U.S. dollar in May, Waves’ algorithmic stablecoin — named Neutrino Token (NSBT) — also lost its peg to the value of the U.S. dollar in early April.
According to a Waves’ blog post, “This was due to aggressive selling of the token in the USDN liquidity pool on Curve Finance. The de-pegging alone was incredibly unfortunate, but the problems didn’t stop there. Then Vires Finance, the Waves-based lending protocol, ran into a liquidity crisis, a ‘bank run.’ Worried lenders rushed to withdraw their positions from the protocol.”
The Wave Labs developers have deployed a plan over the past several weeks that has stopped the NSBT slide. NSBT is currently priced at $0.21 per token as strict, incremental actions are carefully being implemented daily to get it back to a dollar valuation.
Further adding to its problems, technical analysis last weekend showed that the 50-day moving average — which is a pricing trend tool to monitor short-term volatility — for the WAVES coin dropped or “crossed” lower than the 200-day moving average. The pattern is called a “death cross” when short-term price averages cross below the longer term price trend, because it usually signals declining price action in the near term, which is exactly what happened. However, things have turned around in short order for WAVES and Wave Labs.
Waves Enterprises — which is a fork from the original Waves blockchain created by Waves Labs — announced a shift away from a centralized operating model to a decentralized autonomous organization (DAO) as well as making its software code open source. The DAO will have a loosely-assembled council to manage and execute decisions by the community members. The council is comprised of Waves Enterprises, Waves Labs, and Tokenomika. This demonstrates support for Wave Labs as well as validates its governance practices and abilities.

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We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this company’s technology in the past few days, even if you’ve never had an account or even heard of the company before. That’s how prevalent it’s become.
Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.
Even with the recent 100%-plus runup, WAVES is still trading at an 82% discount from its peak price just two months ago. And despite its recuperating stablecoin, Waves has a diverse ecosystem that includes an NFT marketplace, decentralized crypto trading exchange, financial services, and NFT-based gaming portal. Additionally, the Waves blockchain runs on an eco-friendly proof-of-stake (PoS) consensus model.
There appears to be upside potential for the tide to rise higher for the Waves crypto project.

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Tor Constantino is a corporate communications executive and business writer with an MBA. Since 2017, he has written about cryptocurrencies, blockchain, and crypto’s potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
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