Waves coin price prediction for 2024: analysis
Waves crypto price just dropped 40% in the last week alone. What’s next for Waves? Let’s take a look at price factors so we can make an informed Waves coin price prediction.
Table of Contents
What is Waves, and why is Waves falling?
Waves (WAVES) is a blockchain network designed to allow users to mint their own crypto tokens and create dApps easily. It launched in 2016 and gathered major attention from 2021 to 2022 where it saw an all-time price high of $61. The popularity was due in part to Waves offering higher yield for users staking USDN, the ecosystem’s native stablecoin.
The same year, the USDN cryptocurrency depegged from the US dollar, causing volatility and negative sentiment towards the project. Waves then reportedly sold over $130 million worth of USDN to cover project debts and replaced USDN with a new stablecoin, XTN. This action caused USDN holders to lose $500 million worth of their deposits. Waves price collapsed and has not recovered since.
On June 3rd, Binance announced that it was delisting Waves from its exchange, causing further bad press and sentiment, and the value of the coin fell 40% in the last few days, now trading at $1.40. Waves crypto news has been largely negative in recent history.
Waves crypto price prediction 2024-2025
Waves crypto price will face many headwinds before any kind of recovery would be possible. The project has been the focus of one PR disaster after another and marred by repeated mishandling of business affairs by project staff.
There is a distinct lack of trust towards the team particularly due to their selling off of USDN tokens and the actions that caused users to lose their own deposits while the team profited. Now that Waves has been delisted from Binance, liquidity will be significantly lowered, potentially making it more difficult for traders to buy and sell Waves without slippage.
Having said that, the project did, and still does, have genuine utility. Technically, Waves is a competitor to the Ethereum network, with one distinction being that the network does not charge a gas fee for network operations.
Part of the reason Waves became popular was due to speculation over its potential to be a major player in DeFi and Web3 sector. However, in the near-term, Waves will likely be struggling to stay in the game due to its price collapse, Binance delisting, and the widespread view that project finances have been mishandled.
Waves crypto price prediction 2030
By 2030, the price outlook for Waves could be very different indeed. At this stage, the future of Waves coin will depend entirely on whether the project has managed to recover from the events of these past few years and achieve its goal of competing with Ethereum and other Web3 dApp networks.
It’s also worth noting that many speculate that Binance delisted Waves due to increased regulatory scrutiny of late for Binance, Waves, and the crypto market in general. With reports of Waves staff dumping massive sums of money and leaving investors holding the bag by depreciating their own stablecoin, regulators may be seeking to crack down on projects like Waves even further by the year 2030, and this could negatively impact price and even the viability of the project overall.
Does Waves crypto have a future?
Of course, it’s impossible to make a price prediction so far away from the present day. What we do know is that the project’s strong fundamental usefulness could end up turning things around for Waves if managed correctly, while repeated missteps and regulatory scrutiny could spell the end for the would-be Ethereum killer.
To remain competitive and operational, Waves will need to somehow demonstrate to investors that the project is serious about protecting their investment. It will also need to find an edge over more reputable Web3 dApp networks such as Ethereum and Cardano.
Waves is now down around 97% from its all-time high. It began trading at $1.26 in 2016, making the current price dangerously near an all-time low for the 8-year-old project. If it slips below the original 2016 trading price, the psychological impact of this could contribute to further negative sentiment towards the project.
Of course, when a project with decent fundamentals drops in price, many in the market will seek to buy it for what they consider to be an undervalued rate, propping up the price for now. The Relative Strength Index for WAVES currently indicates an oversold reading, meaning more traders may swoop in to buy up WAVES in the immediate future.
Frequently Asked Questions
Why is waves crypto falling
Waves coin is likely falling because it was delisted on Binance recently, a sign of no confidence from the leading exchange which also caused WAVES to have lower liquidity.
Will Waves coin price go up or down?
Nobody knows whether WAVES will go up or down. Supporters of the project will point to the “reduced” price and strong technical fundamentals, while critics will say that the poor management of the project overshadows any technical advantage it might have.
Does Waves crypto have a future?
Waves has historically been considered a reputable Web3 dApp network, but its reputation has significantly worsened in recent years which may have a negative impact on its future.
Is Waves crypto a good investment?
At the time of writing, Waves is down 97% from its all-time high and 40% in the last week alone. It is rapidly approaching the lowest price point in the 8-year history of the project. While crypto is famously volatile and prices can turn themselves around, a WAVES investment at this time would be considered very high risk by most people.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
