Waves (WAVES), known for its founder, Ukrainian-born scientist Alexander Ivanov (also known as Sasha Ivanov), is a multi-purpose Blockchain platform that supports a variety of use cases, including DApps and smart contracts. The altcoin, Shiba Inu (SHIB), also known as the Russian Ethereum due to the functionality of its blockchain, is up more than 140% while losing 30% over the past month.
Why is the altcoin project rising?
There are at least three main reasons for Waves’ huge recent gains.
- First, the Russian invasion of Ukraine made Waves the center of attention for many investors. Speculations that Russians would turn to cryptocurrencies after the fall in the ruble were another factor.
- Second, leading crypto exchange Binance listed Waves on March 2
- Third, Waves’ roadmap. EVM support is just one of the capabilities on the way. Waves also plans to launch a new DAO governance model this year. It builds bridges between all EVM compatible Blockchains and metaverse worlds.
Another part of this roadmap that probably got investors excited was Waves’ founding of Waves Labs, a US company. This new company is headquartered in Miami. The Waves team noted that the US is “a key market to drive mass adoption in 2022,” adding that a $150 million funding and incubation program for the US market will be announced this spring.
Will Waves continue to outperform the Shiba Inu this year?
This is not guaranteed. In addition to ShibaSwap 2.0, Shiba Inu has other possible catalysts on the way, notably the anticipated launch of the Shibarium layer-2 Blockchain. The Shiba Inu may rally over the next few months as the waves drop. Every cryptocurrency has fluctuating periods. For this reason, analyst Keith Speights emphasizes that predictions can only be confirmed over time.
Waves is the 49th largest cryptocurrency by market cap. It is trading 37.31% below its ATH of $41.33. February lows have been on the rise since the $8 zone. You can take a look at the cryptocurrencies that Russian citizens have taken refuge in since Russia’s first invasion of Ukraine, which we have quoted as Kriptokoin.com.
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