WAVES Has Risen 72% so Far This Month, Bucking the Bearish Trend

The WAVES token, a cryptocurrency used on the Waves blockchain tokens platform, has seemingly been bucking the bearish trend as in the last two weeks its price has risen over 73%, while most other cryptocurrencies have been dropping.

According to CryptoCompare data, the Waves platform is designed for large-scale business and consumer adoption and was launched in 2016. Its token’s price has risen 3.7% in the last 24-hour period to $2.48, and a whopping 73.4% in the last two weeks.

Waves' price performance in the last two weeks

WAVES' Developments Help It Buck The Bearish Trend

Behind the cryptocurrency’s surge appear to be a plethora of new developments. Earlier this month, the team behind the Waves platform release an update to its mobile wallet app, which seemingly triggered the bull run.

The app reportedly lets users interact with the Waves platform to deposit and withdraw tokens from their mobile devices, and trade on its decentralized exchange (DEX). Given the crypto’s consensus algorithm, WAVES tokens can even be leased through it.

The surge, however, continued as new developments kept on coming. The platform’s users can now reportedly purchase WAVES with their credit cards, and trade them for BTC or ETH through the platform’s DEX.

Earlier this year, as CryptoGlobe covered, WAVES launched smart contracts on its mainnet, and it’s now adding smart assets and smart account trading. While the features have already been implemented on its mainnet, it’s waiting for miners to vote to activate them, as an 80% acceptance is required.

Moreover, Waves is set to launch a European securities trading platform next year, and has released a wallet add-on for the FireFox browser. A waveskeeper wallet for Google Chrome has been released last month, while one for other browsers like Opera – which itself recently added a built-in ETH wallet – is planned.

The WAVES blockchain is, according to its team, one of the fastest in the industry as it supports up to 100 transactions per second. As reported, earlier this month the Waves Platform claimed that its blockchain managed to process a “remarkable 6.1 million transactions” on October 21.

Demand for the cryptocurrency may be growing if we take into account all of these developments. Back in September, Waves was already celebrating the creation of one million wallets.