Despite the fact that the crypto market was far from perfect in 2018, and has actually suffered huge losses, investors have really tested their support for certain cryptos in the last month. Ever since November 14th, the entire market was nosediving into new lows, most of which were not seen in well over a year. Only a few days ago, on December 17th, did the situation start to change, and multiple coins started trading in the green again.
However, the situation was noticeably different for WAVES coin, which started seeing an increase in early days of December. Since then, the coin has seen a surge of several hundred percents, which has made it one of the most well-performing coins this month.
After hitting the lowest point of $0.97 on November 27th, Waves coin started growing. It peaked at $4.43 on December 19th, which is when it experienced a slight drop once again.
At the time of writing, Waves has a price of $3.32 per coin, after experiencing a 10% drop in the last 24 hours. However, the question that has had investors and analysts puzzled is — why did Waves start growing out of nowhere?
Why did Waves coin grow?
The first thing to understand about Waves is that it is a platform created for developing an ecosystem for business. With it, anyone can create their own project, and run an ICO. Additionally, any platform member can use it for sending, storing, and exchanging crypto.
Thanks to the use of blockchain technology, the project is decentralized, anonymous, and independent. The platform was clearly created with a web developer generation in mind, which has brought it to the attention of many in the crypto community.
However, like any other good crypto project, Waves coin has continued to develop and improve, enter new partnerships, and more. This has also led to the creation of its mobile wallet, which was recently improved, and the secret of Waves’ growth might be tightly connected to it. The improvement revolves around the wallet now allowing credit card purchase of Waves coins, that can later be exchanged for BTC or another crypto.
So far, the app has seen over 100,000 installs from Google Play Store alone. The app is also much more than just a wallet, as it offers popular features which crypto traders and investors might find very useful. This includes trading on DEX, different tools, charts, access to fiat and crypto gateways, the ability to deposit, withdraw, store, or trade assets, and more.
Unfortunately, US users will not be able to enter the crypto market by using their credit cards in this app, which leaves Coinbase as the best option for them. The reason for this is the fact that the wallet uses Indacoin, which is not available in the US.
Analysts now believe that the changes made to the wallet might be the reason why Waves is seeing more usage, as well as why its price has spiked so suddenly in a period where every other coin was experiencing losses. However, this is not the only reason why this project deserves the attention of traders and investors.
In addition to its mobile app, Waves coin has shown to be quite successful in providing an ecosystem for token development. While it has already had a few good ones, numerous others are still in the works and are expected to arrive at some point in the future.
For real-time trade alerts and a breakdown of the crypto markets, sign up for Elite membership!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…