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Tag: Markets

  • Why did WAVES price rise by 60% today?

    Why did WAVES price rise by 60% today?

    WAVES token has shaken the entire crypto market by rallying over 60% in the last 24 hours. Its latest price surge has made it become the 32nd largest cryptocurrency by market cap surpassing Axie infinity (AXS) and Decentraland (MANA).

    At the time of writing, WAVE is trading at $52.44, up 63.13% after hitting a high of $53.81 from a low of $32.12 in the last 24 hours. Additionally, WAVES rose from around $8.9 to above $50 in just seven days.

    This article focuses on the forces behind the current surge in WAVES’ price.

    Why is WAVES price rising?

    Before getting into what is behind the price surge, it is important to first explain what WAVES is.

    In a nutshell, WAVES is the native token of the Waves blockchain, which is a multipurpose blockchain platform that enables the use of smart contracts and the development of decentralized applications (DApps).

    The main reason why the WAVES price is rallying is the recent launch of Waves Labs in the United States and news that it plans to hire experts.

    • Launching of Waves Labs in the U.S

    In February, Waves had announced that it will be launching a new venture, Waves Labs, as its next step for the year 2022.

    In a press release, the company said that Waves Lab will represent the blockchain in the United States. It will mainly focus on supporting new projects and raising funds on the blockchain

    • Hiring experts

    According to verifiable reports, Waves have hired a senior leadership team with some fintech and crypto veterans like Sasha Ivanov, founder of Waves protocol, serving as the firm advisor.

    Moreover, the firm is working on establishing decentralized governance that will improve its integration with other blockchains.

    Waves’ current bullish trend shows that there is a growing interest in altcoins including Solana (SOL) Terra (LUNA), and Cardano (ADA).

  • Inflation Worries Top Concerns Before Fed Meeting, Spur Musk Comment

    Inflation Worries Top Concerns Before Fed Meeting, Spur Musk Comment

    “USD consumer inflation will continue near all-time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies will collapse, and the flight of capital from cash, debt, & value stocks to scarce property like bitcoin will intensify,” Saylor tweeted in response to Musk’s inflation query late Sunday.

  • Dogecoin Spikes Briefly After Musk Says He Won’t Sell His Crypto Holdings

    Dogecoin Spikes Briefly After Musk Says He Won’t Sell His Crypto Holdings

    The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

    @2022 CoinDesk

  • First Mover Asia: South Korea Election Made Crypto a Big Issue, but There’s No Guarantee of a Follow-Through; Cryptos Suffer Weekend Decline

    First Mover Asia: South Korea Election Made Crypto a Big Issue, but There’s No Guarantee of a Follow-Through; Cryptos Suffer Weekend Decline

    Since Russia began its unprovoked attack, bitcon, has risen and dipped within the $37,000 to $45,000 price range that it entered in late January. “It’s been another range-bound, indecisive week for Bitcoin and the crypto markets where the market leader has failed to make any meaningful headway on the upside,” wrote Joe DiPasquale, the CEO of fund manager BitBull Capital, in a text to CoinDesk. He added: “The current price action is typical during bearish phases, as was seen in May, June and July, and often precedes strong price bottoms.”

  • Bitcoin: Gold 2.0? Try Reserve Asset 3.0

    Bitcoin: Gold 2.0? Try Reserve Asset 3.0

    From there, Bretton Woods II was born, where the dollar still dominates, but in a system that mostly uses “inside money.” Inside money is made up of claims that are someone else’s liability, while outside money is the type of money that is the liability of no one. In other words, the money system became largely debt-based. So when China holds U.S. Treasurys, that is inside money. When Russia sells USD to buy gold, that is outside money.

  • Polychain, Arca Propose Anchor Protocol Yield Cut

    Backed by industry heavyweights, a governance proposal for Anchor aims to make the largest DeFi protocol on Terra more sustainable.

  • Market Wrap: Cryptos Mixed Amid Global Uncertainty

    Market Wrap: Cryptos Mixed Amid Global Uncertainty

    Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, is down 20% over the past 30 days, compared with a 12% drop in BTC over the same period. The underperformance of ETH and several other alternative cryptocurrencies (altcoins), which are more volatile than BTC, indicates a lower appetite for risk among crypto investors.

  • Bitcoin Weighed Down by Resistance; Support at $35K-$37K

    Bitcoin Weighed Down by Resistance; Support at $35K-$37K

    Meanwhile, higher price lows from Jan. 23 have kept BTC anchored above $37,000 support in recent months. A series of higher price lows and strong overhead resistance, however, typically results in a breakout or breakdown in the direction of the prevailing trend. In this case, BTC’s downtrend could resume with higher volatility.

  • Fed’s Powell Set to Remove Punch Bowl That Lubricated Crypto Party

    Fed’s Powell Set to Remove Punch Bowl That Lubricated Crypto Party

    “Our assumption is that the updraft in commodity prices will diminish into mid-year, and base effects will finally allow an emerging downtrend in the year-over-year inflation metrics,” Englund told CoinDesk in an email. “This should diminish pressure on the Fed to address inflation, and should allow for quarter-point hikes at just every other meeting, leaving five hikes for 2022 overall (in March, May, June, September and December).”

  • Hedge Fund Fir Tree Makes Big Short Bet Against Tether: Bloomberg

    Hedge Fund Fir Tree Makes Big Short Bet Against Tether: Bloomberg

    The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

    @2022 CoinDesk