Adoption in the real world and a developing DeFi ecosystem have contributed to WAVES reaching a new all-time high.
Adoption in the real world and the capacity to serve various businesses are critical characteristics for blockchain projects. It seeks long-term success in an increasingly crowded and dynamic landscape.
With recent advancements in decentralized finance (DeFi), nonfungible tokens (NFT), and real-world implementation, Consequently, Waves (WAVES) witnessed considerable growth in 2021.
Real-world acceptance and industry coverage are critical for blockchain startups seeking long-term success in a competitive and changing market. Also, Recent record-breaking digital art sales and celebrity endorsements like Paris Hilton boosted the value of nonfungible tokens (NFT).
Paris Hilton believes the outbreak emphasized the vital nature of digital worlds, especially NFTs. Paris Hilton displayed her passion for nonfungible tokens and their potential applications in a lengthy blog post published on Wednesday.
While the euphoria surrounding NFTs waned somewhat in April the recent expansion of Waves demonstrates that there’s still plenty of excitement in the cryptocurrency community for newly announced NFT projects.
Truly, with a record $1.24 billion in 24-hour trading activity on May 3, Waves’ price increased by 60%, according to Tradingview data.
Real World Rally
The catalyst for the recent double-digit gain was announcing a partnership between Waves Enterprise and the Russian space agency Roscosmos. They intend to develop a tool that uses blockchain technology to prevent intellectual property infringement.
Wave EGG NFT program, which engages and enables community members to accomplish activities in exchange for EGG tokens, continued to build momentum for WAVES following the Roscosmos announcement.
The network’s Neutrino stablecoin protocol broke the $1 billion barriers on April 29. Chainlink, a decentralized oracle provider, promotes its WAVES/USD data feeds linked with DeFi marketplaces.
Additionally, according to the newest statistics from TheTie, social sentiment has increased in lockstep with the price. It’s true that the long-term sentiment score climbed from 53 to 93 in one week, along with the Tweet volume.
Thus, the WAVES protocol is one to watch as blockchain adoption continues to extend into mainstream culture due to active DeFi and NFT communities. And real-world use cases drawing governments and enterprises eager to embrace distributed ledger technology.