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The title Waves rose higher on Saturday, moving in the opposite direction of the general market after a very lucrative financing round of its new blockchain project. The cryptocurrency, now ranked 19th by market capitalization, outperformed its peers in the latest downward trend, a sign that the fundamentals were working in its favor.
Update of the price of the waves
The value of the Waves token reached a maximum of $ 4.07 at the start of Saturday. It was last rated at $ 3.70, after gaining 6.1% in the last 24 hours.
The waves exceeded the $ 4.40 level of the corrective rally this week, the highest in six months. The currency is traded in positive territory over longer-term time frames, including three months and six months, which is a rare feat given the prolonged downward trend in the market.
The trading token in Waves reached $ 78 million on Saturday, which is equivalent to 20,010 BTC, according to CoinMarketCap. The WAVES / BTC trading couple on Binance accounted for almost half of the daily transactions. The South Korean won was the quote currency of about 20% of total trades.
At current values, Waves has a total market capitalization of $ 370 million, placing it in 19th place among active cryptocurrencies. At the time of writing, the broader market fell by about $ 4.5 billion, with bitcoins and the major foreign exchange companies registering losses.
Vostok financing
Waves was the recipient of key positive news of delay ranging from the launch of an all-in-one mobile app to successful financing of the initial offer of Vostok coins (ICO). Under the leadership of Waves, Vostok is a "universal blockchain solution" for corporate and government IT systems. Private blockchain solutions are provided with optimization tools that will allow Waves to develop a decentralized network.
The Vostok project raised $ 120 million in the first round of private investment, paving the way for an ambitious roadmap. According to a blog post published earlier this week, members of the Waves community will receive 3% of the Vostok System Tokens (VST) newly created via airdrop.
The Vostok systems integrator is a key component of the project and will allow the company to maintain, develop and optimize the platform. Waves claims to have already established a "number of fruitful collaborations with leading technology companies, financial institutions, public service providers and businesses" to support the project.
"Our upcoming system integrator will see the Vostok platform positioned as a basis for a digital infrastructure for certification, registration and monitoring of data in these sectors," reads the blog.
The success of Vostok's funding puts Waves on track to becoming the first WEB3 company, a generous term that describes the development and integration of emerging technologies with the Internet.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
