Despite the fact that the cryptography market was all but perfect in 2018 and has indeed suffered huge losses, investors have really tested their support for some cryptos in the last month. As of November 14th, the entire market was undergoing new lows, many of which had not been seen for more than a year. Only a few days ago, on December 17, the situation began to change and more coins started trading again in green.
However, the situation was notably different for the WAVES currency, which began to see an increase in the early days of December. Since then, the currency has seen a wave of several hundred percent, which has made it one of the most performing currencies of this month.
After touching the lowest point of $ 0.97 on November 27th, the Waves currency began to grow. It peaked at $ 4.43 on December 19, when it again fell slightly.
At the time of writing, Waves is priced at $ 3.32 per coin, after suffering a 10% drop in the last 24 hours. However, the question that surprised investors and analysts is – why did Waves start growing out of thin air?
Why did the Waves currency grow?
The first thing to understand about Waves is that it is a platform created for the development of an ecosystem for businesses. With it, anyone can create their own project and run an ICO. In addition, any member of the platform can use it to send, store and exchange crypto.
Thanks to the use of blockchain technology, the project is decentralized, anonymous and independent. The platform has been clearly created with a generation of web developers in mind, which has brought the attention of many to the cryptic community.
However, like any other good cryptography project, the Waves currency has continued to develop and improve, to enter new partnerships and more. This has also led to the creation of its recently improved mobile portfolio, and the secret of Waves' growth could be closely connected to it. The improvement revolves around the portfolio now allowing the purchase of the Waves coins by credit card, which can then be exchanged with BTC or with another encryption.
So far, the app has seen over 100,000 installations from the Google Play Store alone. The app is also much more than just a wallet, as it offers popular features that encrypted merchants and investors could find very useful. This includes trading on DEX, various tools, graphs, access to fiat and cryptographic gateways, the ability to deposit, withdraw, archive or exchange resources and more.
Unfortunately, US users will not be able to enter the encrypted market using their credit cards in this app, which leaves Coinbase the best option for them. The reason for this is the fact that the wallet uses Indacoin, which is not available in the United States.
Analysts now believe that the changes to the portfolio could be the reason that Waves is experiencing greater use, as well as why its price soared suddenly at a time when every other currency was suffering losses. However, this is not the only reason why this project deserves the attention of traders and investors.
In addition to its mobile app, the Waves currency has proven to be quite successful in providing a token ecosystem. While it has already had some good ones, numerous others are still in production and should arrive in the future.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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