WAVES has been on a strong bullish run of late, with the altcoin up as much as 255% on the price charts since Feb. 21. A number of interesting developments have contributed to increasing investor interest in WAVES.
In fact, on its current rise, it looks set to reach an all-time high of $43.01. This would be interesting, especially as the larger crypto market has gone through periods of downtrends, however, WAVES has only managed to go north.
What happened?
The primary trigger could be the announcement of the move from WAVES 1.0 to WAVES 2.0. The shift brings with it many proposed advances, including consensus with the Ethereum Virtual Machine. WAVES 2.0 also introduces Gravity Bridges to allow users to access assets on EVM-compatible chains like Bitcoin, Ethereum, etc.
The migration also aims to speed up the network and boost security measures due to the recent increase in DeFi thefts.
02/10/22 stands for the beginning of the big move for #Waves! It’s time to reveal what’s to come in 2022👇🏻https://t.co/n0JtTRradB
— Waves 🌊 (1 ➝ 2) (@wavesprotocol) February 10, 2022
Another announcement that has sparked interest is the partnership with Allbridge – a protocol for building bridges between different blockchains. This deal gives WAVES universal interaction with other bridges.
Waves has also released a $150 million fund to drive mass adoption in the US and develop more products on the blockchain.
Can WAVES keep swimming?
The published roadmap for the first quarter of 2022 means a promising outlook for the WAVES protocol. There is growing optimism in the community, including within the blockchain, for more activity. However, there are some fears that need to be addressed. For example, WAVES’ price action now seems to share similarities with their April-May 2021 trajectory.
The altcoin staged an incredible rally to $42.8 on May 4, but crashed back to $18.2 within two weeks. As for the current pattern, there are striking similarities on the price chart. Ergo, there are concerns that WAVES could go against the tide despite advances in the blockchain.
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