Investors want to know if WAVES prices will rebound from recent volatility.
This week, the Waves (WAVES-USD) network has been a hot topic among crypto investors. The project appears to be mired in a bit of melodrama. The network's flagship WAVES token, however, continues to lose value. This is awful news for WAVES investors, but does it signal the end of the currency or a once-in-a-lifetime opportunity to buy? To find out, we can use WAVES crypto price predictions.
From the start, Waves has been a fascinating endeavor. The layer-1 network, founded by Sasha Ivanov in 2016, has acquired popularity for not operating like other networks. Waves, for example, does not use Ethereum's (ETH-USD) Virtual Machine software suite, which powers a large share of the world's networks.
The altcoin bubble of 2021 has benefited the network considerably. The network's market capitalization has risen from under $700 million in January of last year to over $3 billion today. However, the last few weeks have been nicer than most. The WAVES coin soared from $32 to an all-time high of over $60 at the end of March.
The altcoin bubble of 2021 has benefited the network considerably. The network's market capitalization has risen from under $700 million in January of last year to over $3 billion today. However, the last few weeks have been nicer than most. The WAVES coin soared from $32 to an all-time high of over $60 at the end of March.
These happy moments, however, did not last long. The network has been engulfed with drama. Waves was first accused as being a conduit for Russian sanction evasion because of its Eastern European relationships. More reports circulated that the Waves developers were manipulating the liquidity of DeFi platforms to artificially inflate the value of their own token.
Bitcoin falls by 12%. Is This a Good Time to Buy?
Elon Musk's enthusiasm for Bitcoin has faded, but should you invest?
Bitcoin's price has decreased by 12% in the last 24 hours after Tesla CEO Elon Musk announced that the company would no longer accept Bitcoin purchases.
Tesla made the decision because it was concerned about Bitcoin's carbon footprint. "We are concerned about the rapidly growing use of fossil fuels for Bitcoin mining and transactions, particularly coal, which emits the most pollutants of any fuel," he tweeted.
Musk's warning about carbon emissions isn't new. Mining Bitcoin gets more profitable as the price grows, and more organizations invest in more computer power to do it. Unfortunately, this reduces its energy efficiency even further. According to a Cambridge University study, Bitcoin consumes roughly the same amount of energy each year.
Tesla, on the other hand, has made a big U-turn. Tesla's CFO Zachary Kirkhorn stated only a month ago, at the company's Q1 results, that the Bitcoin investment had "proved to be a successful move."
Can the waves recoup their losses and post new gains?
The news for WAVES holders is plainly not favorable. It doesn't matter whether these claims are true or not; the currency has lost almost 53 percent in the previous week. That isn't to say the coin isn't still in play. Could it turn around and start climbing again?
The Waves network isn't devoid of content. On the contrary, with roughly $3 billion in total value locked (TVL) on the chain, it's quite strong. It hosts DeFi platforms and non-fungible tokens (NFTs), and it has a history of coming up with unique approaches to industry trends. Is this basic strength sufficient to withstand current volatility? Let's have a look at some WAVES crypto price forecasts and see what experts have to say:
- DigitalCoinPrice is expected to rise above its present $28 value by the end of the year, but only little. The retailer predicts a price of $36.91 by the end of the year.
- CryptoNewsZ is slightly more enthusiastic, forecasting a price of $44.19 by the end of 2022.
- WAVES, according to Wallet Investor, is once again on the verge of hitting an all-time high. The coin is expected to reach $59.49 by April 2023, according to the website.
- WAVES is expected to trade at $43.57 in April of next year, according to Gov Capital.