There are a few interesting developments in the cryptocurrency market industry today. A lot of positive momentum appears to be brewing. The Waves price is getting most of the attention, however, as it is continuing a strong weekly trend.
Whereas most of the other top cryptocurrencies have seen little to no price action over the past week, things are a bit different as far as Waves is concerned. It is one of those altcoin projects which many people expected to fail within the first two years. The reality has turned out very differently, which can only be considered to be a good thing.
Waves Price Momentum Continues
When looking at this week’s Waves price momentum, things have taken an interesting turn. There is a near 20% gain over the past week, making it one of the more successful altcoins in the past few days. The value initially dropped to $0.523623 on December 10, yet the rebound has been very strong.
Today, one WAVES is valued at $0.684232 once again. It is a more than healthy increase, bringing the Waves price back to levels not seen since late November 2019. Many followers might see this as a way to kick off the altcoin season after two years, yet it remains to be determined if that will be the case in the long run.
This Waves price uptrend could have some legs to it after today as well. There is plenty of trading volume to go around, indicating the momentum might not shift in a negative manner just yet. With today’s 9% gain in the books as well, there are plenty of traders who want to continue this upward momentum for as long as possible.
As far as the actual trading is concerned, WAVES gets a lot of trading volume from Bitcoin. The pairs on Binance, Exrates, and P2Pb2b generate a combined 41.5% of all WAVES volume. The USD and USDT pairs on Exrates are also contributing nicely.
Some traders had expected this momentum to materialize sooner rather than later. Sarkac, one of the many Turkish cryptocurrency enthusiasts, still expects more positive Waves price momentum to materialize in the weeks to come. He thinks another 20% gain from the current price level is certainly possible.
— sarkaç (@sedatarkac) December 14, 2019