The price of the WAVES crypto token is rising over 15% this morning making this the second consecutive day of double-digit gains for the native asset of the smart contracts network Waves following the release of a revival plan for its DeFi ecosystem.

Waves’ flagship algorithmic stablecoin USDN suffered the same faith as Terra after the liquidity of the token was drained from DeFi protocols including Curve Finance and Vires Finance.

Despite the latest two-day uptick, WAVES accumulates a 31% loss so far in May while the token has shed nearly 40% of its value since the year started.

The collapse of Terra’s flagship stablecoin UST undermined the public’s confidence in algorithmic tokens pegged to fiat currencies and WAVES was one of those dragged into the whirlwind.

To restore the public’s trust, and possibly their money, the founder of the project, Sasha Ivanov, published a blog titled “The Waves DeFi Revival Plan” just four days ago on Medium. In the document, he outlined the next steps that the developing team will take “to build Waves #DeFi back better than ever”.

The crypto community appears to have responded positively to the proposals set forth in the document as indicated by the token’s positive performance since the plan was made public.

Waves Crypto Price Prediction (2022 – 2025)

waves price chart
WAVES/USDT price chart (Binance) – Source: TradingView

Despite the excitement caused by this revival plan, the price action for WAVES is far from sending a strong buy signal as the token still has to climb above the $17 per coin area to make a higher high and effectively reverse the latest downtrend.

Thus far, WAVES is trading 50.3% below its 200-day simple moving average. Trading volumes in the past couple of days have exceeded the 10-day average by over 5 times while momentum indicators have started to send positive signals. As a result, in the past 24 hours, Waves has accounted for more than 4% of the crypto market’s total trading volumes.

In this regard, the Relative Strength Index (RSI) is moving above the 50 level (bullish) for the first time in months while the MACD just crossed above the signal line at the same time that histogram readings have been steadily increasing.

According to Wallet Investor, a third-party forecasting service, the short-term outlook for WAVES is bearish based on an analysis of the token’s technical indicators. The baseline 14-day Waves crypto price prediction from this provider points to the price collapsing to a range between $4.25 and $4.76 per coin.

Meanwhile, estimates from Gov.Capital are leaning toward a positive mid and long-term outlook for WAVES as the algorithm estimates that the price will rise to $20.8 per coin a year from now and $116.3 per coin 5 years from now.

Your capital is at risk.

What is the Best Crypto to Buy Now?

Waves is not the only token that is rising while the rest of the crypto market is collapsing as the native token of Lucky Block, LBLOCK, is also delivering a positive performance for investors so far this month as the project’s first-ever jackpot and NFT draw is set to take place in a matter of hours.

Lucky Block is an innovative decentralized gaming project that uses the proceeds from a tax on speculative transactions to fund its jackpot. Token holders are benefitted in multiple ways from HODLing LBLOCK.

First, they get to participate in a contest for the chance of winning a $1 million jackpot. Additionally, 10% of the proceeds gathered via the short-term trading tax will always be distributed among LBLOCK holders.

Finally, as more gamblers are attracted to the LBLOCK ecosystem, the value of the token will be poised to raise. These are only some of the income-generating initiatives that this blockchain-based project is proposing while others are currently in the works including a play-to-earn (P2E) solution and an active NFT marketplace.

Lucky Block - Undervalued Crypto

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