WAVES price prediction: How much higher will it go?

Can Waves recover after a brutal sell-off and market-wide crash? Forecasters think so

Abstract image of dark blue digital waves on a black background                                 
Are big gains or a minor ripple in store for WAVES? – Photo: Shutterstock
                                

Contents

Waves, activated in the early stages of 2016, is a well-established, open-source blockchain platform popular among decentralised finance (DeFi) protocols and gaming platforms alike.

The native cryptocurrency, WAVES, underpins the platform, and is used to pay fees and, more importantly, secure the network through staking.

Waves announced that it would be upgrading to Waves to 2.0 this year, and has made significant progress so far. The move will expand the utility of the blockchain platform and update its consensus mechanism, converting to the Practical Proof-of-Stake Sharding (PPOSS) from the Proof-of-Stake consensus algorithm. What is Waves (WAVES), and what are the targets for the Waves coin price prediction?

Waves blockchain

Waves blockchain currently runs on the Proof-of-Stake (PoS) consensus model, but as mentioned above has started the process of migrating to PPOSS.

An impressively high proportion of circulating WAVES are staked to the validation nodes. Waves cites a daily transaction count of more than 100,000, secured by a network of 250 validators, facilitating a throughput of more than 47,000 transactions per second.

Running a node requires a minimum stake of 1,000 WAVES (the equivalent of $5,190 at the time of writing on 25 July 2022).  Fees are as low as 0.001 WAVES for regular transactions or 0.005 WAVES for script transactions.

Popular DeFi platforms built on the Waves blockchain include the Neutrino stablecoin, the swop.fi automated money maker and Waves’ own decentralised exchange. In total, $932m in value is locked across the Waves protocol. NFT games and marketplaces also feature on the protocol list.

Waves 2.0 is introducing a new consensus method called Practical-Proof-of-Stake-Sharding (PPoSS) that is compatible with Ethereum Virtual Machine, allowing Ethereum-based protocols to migrate to Waves more easily.

Waves Association DAO

Operating as a decentralised autonomous organisation (DAO), the Waves Association is a non-profit organisation focused on research and development, grants and educational projects.

Grants are proposed via the DAO and voted on by all members of the Waves Association, but unlike other DAOs, membership does not include all token holders. Individual membership of the Waves Association costs 100 WAVES ($680 at the time of writing), and it costs twice that amount for organisations to join.

The Waves Association has a Berlin-based executive board comprising Sasha Ivanov, Bram Nagtegals and Sander de Mooij. According to the Waves Association, it does not “control, operate or lead Waves”, although Ivanov is the founder of the broader Waves platform.

WAVES tokenomics

WAVES is a fully diluted cryptocurrency that was trading at $5.19, with a circulating supply of 108,885,088, at the time of writing. Market capitalisation is about $565m. 

Waves was a front runner in the initial coin offering (ICO) trend, having launched its ICO in April 2016. The funding round closed in June 2016 after raising more than $16m. Of the 100 million WAVES released at launch, 85% went up for sale, while 9% was reserved for the development team. The remaining 6% was distributed between early supporters, strategic partners and a bug bounty programme.

Binance is the primary centralised exchange for WAVES. Liquidity is also provided on Bybit, FTX, Kraken and many others. Waves’ own decentralised exchange supports user-generated liquidity pools, where users can earn up to 4% annual percentage yield rewards for contributing to the pools.

WAVES: Latest price action

WAVES hit its first high of $41.33 on 4 May 2021. After an extended dip in the subsequent months, the coin rebounded to overshoot the $32 mark in mid-October before entering a sustained downward trend when the brakes were applied to the wider crypto market. 

Q1 2022 brought plenty of price action, and a new all-time high was established on 31 March at $62.36, following the news that Binance would begin accepting WAVES as collateral on its loan platform:

However, a strong correction followed and as of 25 July 2022, WAVES’ trading value was $5.19. Controversy dogged the platform in the second quarter of 2022, and the founder suggested the reason for the falling value was short sellers. Commentators accused the developers of running a Ponzi scheme. 

Despite the brutal sell-off and market-wide downturn, Waves has created a new roadmap for its DeFi revival plan. However, current market conditions remain hostile, and the token is downtrending again, having lost nearly 10% in a recent 24-hour trading window. 

What’s next for the crypto? Let’s move on to the Waves crypto price prediction.

Surf report: What do the forecasters think?

We can see some fairly bullish news coming out of WalletInvestor’s Waves price prediction. Its 12-month price target is $9.37, while its WAVES price prediction for 2025 sees the close the year at $21.90. In five years’ time, the token is expected to trade at $24.30.

Gov.Capital WAVES price prediction for 2022 is also bullish, suggesting it could reach around $10.91 by the end of August, reaching but only reaching $9.42 as December comes to a close. The forecaster’s five-year WAVES price target is $111.32.

The PricePrediction WAVES price prediction for 2030 is an impressive $161.80. Shorter-term price targets are more conservative – the forecaster has average price targets of $8.98 for 2022 and $28.08 for 2025.

DigitalCoinPrice suggests a value of $7.02 in August, representing an upswing of 35%. In 2023, the site suggests an average value of $7.75. In 2025, the coin is expected to reach $10.38, followed by a year-on-year uptrend to $24.07 in 2030. 

Remember that Waves price prediction targets are generated through an automated process. These algorithms are based on an asset’s historical performance, which is no guarantee of future results. Always make sure to conduct comprehensive research and project analysis before committing to an investment. And never invest money you can’t afford to lose.

FAQs

WAVES is a fully diluted cryptocurrency with a circulating supply of 108,885,088 as of 25 July 2022.

Waves might be a good investment. Currency.com suggests you conduct a comprehensive review of the project and its long-term prospects before investing. Checks can include a deep read of the white paper and a review of the roadmap, combined with some independent third-party advice.

At the time of writing, the WAVES price prediction targets from AI forecasters agreed that WAVES would rise to varying degrees. Some were bullish, while others were more cautious. Do bear in mind that WAVES price prediction targets are speculative and should not be your principal reason for buying.

You need to determine that after undertaking a comprehensive due diligence exercise. Be sure to read the white paper, check social media channels, ask current investors and seek professional investment advice. Always remember that cryptocurrencies are highly volatile, and never invest more than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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