In the world of Bitcoin and altcoins, sometimes the crises in the world have different reflections. The final reflection is the recent emergence of the Wagner mercenary group in Russia. With the resulting crisis, it had an unexpected effect in the crypto money world. Accordingly, it led to a notable increase in an altcoin.
Altcoin has risen rapidly
Altcoin WAVES, known as the “Russian Ethereum”, has gained 74% in the last 24 hours. Currently, the altcoin is trading at $2.68. As the Wagner crisis unfolded, the cryptocurrency market felt its repercussions. Accordingly, altcoin WAVES took center stage. This rise is reminiscent of a similar rise experienced during Russia’s aggression against Ukraine. It also shows a correlation between geopolitical events and cryptocurrency performance.
Founded by Sasha Ivanov, a Russian entrepreneur and former physicist, WAVES is an important altcoin. It has proven itself as a major player in the Bitcoin and altcoin space. Headquartered in Moscow, the platform has a significant user base in Russia and other post-Soviet countries. WAVES stands out as the first blockchain platform that allows users to effortlessly create their own tokens without requiring any programming skills.
The journey of WAVES
Launched in June 2016 through one of the crypto industry’s earliest initial coin offerings (ICOs), WAVES has set out to develop user-friendly blockchain platforms that prioritize speed and utility. Its commitment to increasing accessibility has grown in popularity, attracting enthusiasts and investors alike.
A look at the daily chart reveals the impressive upward trajectory of altcoin WAVES price directly correlated with the onset of the Wagner crisis. This rise presents a unique investment opportunity as WAVES continues to make significant strides in the market. Of course, when such an increase was in question, all the attention was focused on Waves. On the other hand, it is considered strange that a crisis focused on violence could have such an effect. However, it is really difficult to predict what will happen in the cryptocurrency world. This situation reflects this difficulty.
Massive growth tracking
Looking at Kriptokoin.com, the Wagner crisis in Russia unexpectedly played a very important role in the fortunes of altcoin WAVES. With a staggering 74% increase, WAVES has caught the attention of the cryptocurrency community. But there are other factors in the rise. As we covered yesterday, DWF Labs had committed 500,000 WAVES to the WavesDAO project.
On the other hand, it demonstrated its resilience and potential to make significant gains. Geopolitical events continue to affect digital assets. On the other hand, savvy investors are keeping a close eye on altcoins like WAVES, which have significant growth potential amid tough times.
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