The global cryptocurrency market cap climbed back above $1 trillion today, despite falling more than 2% in the last 24 hours to $1.08 trillion. With such a surge in cryptocurrency demand, WAVES Pumps 19% to a high of $6.617. However, Waves failed to keep up with the bullish momentum and has entered the consolidation phase now.

The uptrend in Waves can be associated with the optimization in the crypto market and a piece of news that the Waves blockchain platform announced the launch of a new “planet” in its ecosystem last week.

WAVES Pumps 19% – Quick Price Review 

On Thursday, Waves’ current price was $5.58, with a 24-hour trading volume of $427.13 million. Despite a gain of 13.76% in the past seven days, Wave’s price has dropped 10.11% in the last 24 hours. 

CoinMarketCap currently ranks #67, with a live market cap of $607.40 million. The circulating supply is 108.84 million WAVES coins. A day before, WAVES closed at $6.184 after setting a high of $6.617 and a low of $6.057.

WAVES Daily Price Chat
WAVES Daily Price Chat – Source: Tradingview

Do you want to buy WAVES? For more information, see WAVES Price Prediction.

Merge Ethereum 2.0 Release Date Underpins WAVES

Considering the announcement of the release date for the Ethereum blockchain update, the upward trend spread throughout the Defi token market. In around 60 days, Ethereum’s highly anticipated move from proof-of-work (PoW) to proof-of-stake (PoS), also known as The Merge, could take place. Merge may occur on September 19

WAVES played an essential role in the decentralized finance market in 2022, with a total value of $32.39 billion. It has a tangential relationship with the second-largest cryptocurrency, ETH, and as ETH’s value has increased this week, the momentum of WAVES has also increased.

PLUTO Token Goes Live on Waves Ecosystem

In addition, the WAVES blockchain platform announced the launch of a new “planet” in its ecosystem last week. On July 12, the PLUTO token went live on the WAVES ecosystem. The collaboration news had a minor impact on WAVES token price last week.

US Dollar’s Bullish Correction Weights on Waves

The US Dollar Index, which measures the value of the greenback against a basket of six major currencies, rose by +0.32%, putting slight downward pressure on the WAVES price. The US dollar has been under pressure for the past four days, but it found some support on Thursday and recovered some of its previous losses. As a result, the strength of the US dollar capped the rising trend of the WAVES/USD pair.

The Waves blockchain is considered an alternative to Ethereum due to its goal of advancing current blockchain technology. Therefore, Waves’ popularity and overall value are expected to rise if the blockchain can outperform Ethereum in terms of speed, usability, and capability.

Battle Infinity - New Metaverse Game

Our Rating

Battle Infinity
  • Listed on PancakeSwap and LBank - battleinfinity.io
  • Fantasy Sports Themed Games
  • Play to Earn Utility - IBAT Rewards Token
  • Powered By Unreal Engine
  • Solid Proof Audited, CoinSniper Verified
Battle Infinity