WAVES price prediction: How much higher will it go?

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

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 that is a popular choice among decentralised finance (DeFi) protocols and gaming platforms alike.

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

Waves announced that it would be upgrading to Waves 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 (PoS) consensus algorithm.

So 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 $5,150 at the time of writing on 24 August 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, $286m 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. This will enable 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 ($512 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 $5.15, with a circulating supply of 109,144,888, at the time of writing on 24 August 2022. Market capitalisation is about $560m. 

Waves was a frontrunner 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 towards the end of May, the token was consistently trading below the $5 mark. For the following weeks, the prolonged bear market kept the price down. In early June there was a brief $10 peak, but the token has largely remained between $4 and $6.50. 

A revised roadmap was recently published on Medium and says: “Moving forward, the exchange’s plans feature many improvements and additional features. In the third quarter of this year, an opportunity for users to log in with MetaMask will be added. A referral program was launched, bringing in new users and benefiting existing community members.

“At the same time, the governance functionality will be further expanded, allowing users to put any issue to vote. In addition, Q3 2022 will see the introduction of Launchpad — functionality for launching new projects.” 

The protocol summed up the new roadmap on Twitter as:

As of 24 August 2022, WAVES’ trading value was $5.12. 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 largely downtrending. 

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

Surf report: What do the forecasters think?

WalletInvestor makes a predominantly bearish Waves price prediction. Its 12-month price forecast of $2.89.

Gov Capital’s WAVES price prediction for 2022 is bearish in the shorter term, suggesting it could descend to around $4.51 by the end of September, and fall further to $4.03 by the end of December. However, the site’s WAVES price prediction for 2025 is for the token to break the $50 mark in March of that year, while its five-year WAVES price target is $109.06.

The WAVES price prediction for 2030 from PricePrediction is an impressive $143.60. Shorter-term price targets are more conservative – the forecaster has average price targets of $6.94 for 2022 and $21.54 for 2025.

DigitalCoinPrice suggests a value of $7.25 in September, representing an upswing of around 41%. In 2023, the site suggests an average value of $7.71. In 2025, the coin is expected to reach $10.34, followed by a year-on-year uptrend to $23.96 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

How many WAVES are there?

WAVES is a fully diluted cryptocurrency with a circulating supply of 109,144,888 as of 24 August 2022.

Is Waves a good investment?

Waves might be a good investment. As ever, though, Currency.com suggests you conduct a comprehensive review of the project and its long-term prospects before investing.

Checks can include a close read of the whitepaper and a review of the roadmap, combined with seeking independent third-party advice.

Will WAVES go up?

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.

Should I invest in Waves?

You need to determine that after undertaking a comprehensive due diligence exercise. Be sure to read the whitepaper, 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 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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