- Waves price surged to an all-time high on Tuesday.
- Waves Labs will be headquartered in the United States.
- Neutrino is still the pillar of the network.
Bitcoin and other altcoins have been in a strong bullish trend in the past few months. Waves price has emerged as one of the best performers in the industry. The token jumped to an all-time high of $50, bringing its total market cap to over $4.6 billion.
Waves expansion
Waves is a small but fast-growing Ethereum-killer that has been embraced by several developers. Its best-known application is known as Neutrino, which is an algorithmic price-stable assetization protocol. People use Neutrino to build stablecoins pegged on assets like currencies and commodities.
Other popular applications built using Waves are Vires Finance and Waves Exchange, which is a leading DEX with over $147 million in assets.
There are two main reasons why the Waves price has soared to an all-time high. First, the performance is in line with what other cryptocurrencies are doing. In the past few weeks, we have seen the prices of most coins like Bitcoin and Ether jump.
Second, the price is rising after the developers announced that the network will expand to the United States. Waves Labs headquarters will move to Miami. As part of this expansion, Waves Labs announced a new leadership team. Some of the new hires are Aleks Rubin, Jack Booth, and Tiffany Phan.
These are experienced professionals from the likes of the Origin Protocol and Oasis Protocol. In a statement, Waves CEO said:
Waves Labs is a key component of the Waves plan to grow exponentially in 2022. Despite a period of record growth of our ecosystem, Waves still remains relatively unknown in the U.S. crypto space. I do not doubt that Waves will reach mass adoption in 2022 and beyond.
So, what next for the Waves price?
Waves price prediction
The daily chart shows that the Waves price has been in a strong bullish trend in the past few weeks. Notably, the coin managed to move above the key resistance level at $36.80, which was the highest level in October.
The coin has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the overbought level.
Therefore, the overall outlook of Waves is bullish as its ecosystem grows. However, we cannot rule out a small pullback in the coming days as investors take profits. If this happens, the next key level to watch will be at $36.
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