Several trends are emerging as cryptocurrency trading grows in popularity. One is that DeFi coins are becoming more valuable as they can support useful applications such as NFTs. Another is that creators want greater control over their projects and the option to host them on more than one blockchain.
There is one crypto that can provide both advantages for its users. That’s why, if I had to choose just one crypto right now, it would be Waves.
Waves’ calling card
Waves is a blockchain platform that allows for the creation of decentralized applications (dApps) and uses ERC-20 smart contract technology. To get the most out of the platform, developers do not need to be experts in smart contracts. Instead, Waves employs scripts that assist developers in creating their own products.
According to its website, Waves can handle “any use cases that need security and decentralization.” This includes personal identification, open finance and any other project that places a premium on security.
Waves is built on top of a leased proof-of-stake consensus, which keeps the platform’s carbon footprint lower. It also has a built-in exchange called Waves.Exchange, which is a decentralized exchange. The exchange supports numerous assets, including Bitcoin (BTC) and Litecoin (LTC), as well as crypto pools and other interest-bearing accounts.
Why you should consider investing in Waves
Waves has outperformed its cryptocurrency rivals since the Russian invasion of Ukraine sent the market tumbling in late Feb. The token’s value increased more than 200 percent over the last month, from $11.25 per unit to over $25 as of this writing. Similarly, 24-hour volume for Waves is now greater than $1.49 billion compared to less than $380 million 30 days ago, indicating an increase in investor interest in the asset.
Over the past month, the overall crypto market capitalization has dropped by more than $200 million. The most well-known assets, such as Bitcoin and Ethereum (ETH), have tumbled as well. Bitcoin has shed around 10% over the previous 30 days, while Ethereum’s value has fallen by more than 20%, according to CoinMarketCap trading data.
Know the risks
While cryptocurrency investing is not risk-free, it’s a good idea for investors to be informed about any asset they invest in. From wild swings in price to taxes and cybersecurity risks, cryptocurrency buyers should take proactive measures to safeguard themselves and their portfolio from damage. Make sure you conduct your own study ahead of time before diving in with crypto, and only invest money that you can afford to lose.
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