Decentralized exchanges (DEXs) have grown in popularity in the last few months. Users are majorly drawn to DEX platforms due to their lack of regulation by any central authority. Waves Exchange is a fast-rising DEX platform with a less popular native token. However, due to its meteoric rise, several investors now want to buy WAVES token.
Created in 2016 to improve on the early blockchain platforms, Waves has realigned its objective in the last five years. Now, it is aiming to create a burgeoning “cryptocurrency environment” and is the only DEX platform that runs on its own blockchain.
In the last 24 hours WAVES has surged 10%. However, this is not enough reason to hop in and buy WAVES. This article explores the WAVES performance year-to-date and what to consider before investing.
Crypto to Buy: 7 Altcoins Primed for a June Rally
investorplace.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investorplace.com Daily Mail and Mail on Sunday newspapers.
Palatine Chamber WIBAF group awards scholarships
dailyherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyherald.com Daily Mail and Mail on Sunday newspapers.
The WAVES token was trading at $20.07 at press time.
Trading volume for the cryptocurrency was up over 790% in the past 24-hours as the token reached $2.14 billion in market cap, while 47% of supply is locked up in DeFi contracts.
Why It Matters: The Waves ecosystem is fairly extensive, leveraging three blockchain protocols: decentralized exchange Waves, DeFi platform Neutrino and cross-chain oracle network Gravity. The idea was to provide developer-friendly infrastructure to create new products with the potential for mass adoption.
This hasn’t been limited to a particular industry, as seen by Waves most recent partnership with Russian space agency Rosmocos. The space agency uses an IP protection solution based on the Waves Enterprise blockchain platform to maintain and verify a database of IP data.