An under-the-radar altcoin is surging as Bitcoin and most of the crypto markets move sideways.
The smart contract blockchain platform Waves (WAVES) is trading at $25.27 at time of writing, up more than 37% from where it was priced one week ago.
Zooming out, the 51st-ranked crypto asset by market cap is up more than 117% in the past month, after retracing from a Wednesday high of $30.34.
Waves allows users to create, launch and trade their own crypto tokens. The platform also gives developers access to several ready-to-use tools and products, empowering them to make new tokens as well as build decentralized applications. Waves’ current total value locked stands around $2 billion.
“The development of our highly scalable and [Ethereum Virtual Machine-compatible] network will start this spring. The new network will be connected to the existing one for a smoother transition to Waves 2.0 without depreciating the old network’s value or efficacy.”
Waves Labs, the blockchain technology company behind the project, also plans to launch a $150 million fund and an incubation program to support US-based development teams building projects on the network.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Jamo Images/Nikelser Kate