Very few cryptocurrency markets have managed to show some positive momentum this week. The Waves price is a notable exception, as this week has been incredibly bullish for this altcoin.
The Waves Price Surge Continues
It is crucial to keep in mind how volatile cryptocurrency markets are by nature. When the value of bitcoin goes up and down, the alternative markets will see very similar patterns, but more outspoken. There are always a few currencies, tokens, or assets capable of bucking these trends without too many problems.
When looking at the Waves price trend, things have gotten interesting this week. Not only is there a 36.5% gain over the week, but today’s trend remains bullish as well. Continuing the momentum is crucial for any cryptocurrency, yet it is often much easier said than done.
One thing to take note of is how the Waves price has hit a high of $0.908562 today, yet the current value isn’t exactly close tot hat level. There has been a lot of negative pressure since reaching that high, indicating the $0.9 level may act as some sort of minor resistance.
The most interesting aspect is how Waves has a trading volume higher than its actual market cap. That is a very rare sight, yet one that doesn’t necessarily indicate further bullish momentum. Having 107% of a project’s market cap in trading volume could hint at a lot of buyers and sellers potentially filling their own orders to trick other investors.
With P2PB2B, Binance, Hotbit, and Exrates driving the Waves price trend and volume, things look rather interesting. Four of the top five trading pairs are linked to Bitcoin. This is a sign of an altcoin rising against Bitcoin in value first and foremost. A very promising sign, albeit it remains to be seen how things will evolve in the hours and days to come.
As far as news related to WAVES is concerned, the new DappRadar report offers some insights. There are nearly two dozen active dApps on the Waves blockchain, which is fairly decent. Most people associate dApps with the likes of Ethereum, EOS, and TRON. Seeing more ecosystems compete for traction is never a bad thing.
There is also the latest monthly Waves digest. A lot of progress has been made behind the scenes of this project. Furthermore, the Waves.Exchange migration has completed without hiccups. Very crucial developments for this project, to say the very least.