WAVES price swells to new all-time highs, nearing $4B market cap
May 4, 2021. Summarized by summa-bot.
Compression ratio: 48.2%. 1 min read.
The price of WAVES is riding high after some bullish news.
One cryptocurrency project from 2016 that has seen its price breakout to new highs in May is Waves (WAVES), a multi-faceted blockchain protocol that has seen significant growth in 2021 thanks to recent strides in decentralized finance (DeFi), nonfungible tokens (NFT) and real-world adoption.
Data from Tradingview shows that after hitting a low of $12. 22 on April 25, the price of Waves has swelled more than 205% to a new all-time high at $37. 61, with a record $1. 24 billion in 24-hour trading volume leading to a 60% spike in price on May 3.
DeFi on Waves has also seen significant growth as evidenced by the network’s Neutrino stablecoin protocol surpassing $1 billion in total value locked on April 29.
The spike in the price of WAVES on May 3 was preceded by the May 2 tweet from the decentralized oracle provider Chainlink discussing its WAVES/USD data feeds that can easily be integrated into DeFi markets.
Easily integrate #Chainlink’s pre-built WAVES/USD Price Feed to build derivatives markets around @wavesprotocol’s native asset, already relied on by @Bondedfinance. — Chainlink - Official Channel (@chainlink) May 2, 2021
With momentum still building due to active DeFi and NFT communities as well as real-world use cases catching the eye of governments and corporations looking to integrate distributed ledger technology, the WAVES protocol is a project to keep an eye on as blockchain adoption continues to expand into mainstream society.