Waves token reached new heights during the bull run of 2021. The cryptocurrency was operating in single digit figures in 2020 – starting the new year with a price level of $6.62. The bulls soon overtook the market and Waves started oscillating upwards. Although the cryptocurrency had not established a clear uptrend, it had volatile upward jumps. It was during the peak of the bull run that the coin shop upwards to the all-time high of $41.33. The cryptocurrency has since fallen as the market crashed. It now operated 43% below the ATH level.
At the time of press, the cryptocurrency stands at a price level of $23.12. The token was under bullish pressures during the weekly timeframe but now it has entered a consolidation period. The general outlook of the cryptocurrency market is bullish. The bulls may be expected to once again gain traction for Waves and the consolidation period will end with another upside jump. Waves has gained significantly since the crash of 2021 and with further bullish momentum the ATH price level can be reached.
What is Waves?
The blockchain industry has a lot of bottlenecks which makes entrance into the market not easy. One of the problems faced by new comers is they need to have in-depth knowledge of the technology. Waves is changing that and; hence, boosting the adoption of the technology. Users can create custom tokens on Waves’ blockchain without the need of having programming or smart contract knowledge. The process is done through scripts which run on users’ accounts.
The network also has its in-built decentralized exchange, Waves.Exchange, which facilitates the transfer of custom tokens built on the network. Smart contract functionality has also been added and Waves Enterprise a version for institutions has also been made live.
Can it break the ATH?
The all-time high of Waves at $41.33 may be a potential price target for the cryptocurrency. The fundamentals support the upward trajectory of the cryptocurrency. In the long-term window, most of the top hundred cryptocurrencies are bullish and the same can be expected for Waves. According to the estimates of Wallet Investor, the coin will break its ATH level in a year’s time as the expected price is $42.61. The five-year return is expected to be at more than 370% with a price prediction of $110. Digital Coin Price expects a similar trajectory for the cryptocurrency. Per their estimates, Waves will be operating at a price level of $50 by 2023 and break $100 by 2028.
