Ukrainian WAVES token surged by 97%. This news has attracted the attention of the cryptocurrency community. The war between Ukraine and Russia has pushed cryptocurrency to take a downturn. We have witnessed various cryptocurrencies fall at a great pace. But, the WAVES token has registered notable gains.
There is a lot of panic in the crypto market due to the Russia-Ukraine war. But, the cryptocurrency WAVES, has been making significant gains. The past two weeks have pushed the prices of WAVES cryptocurrency. The Ukrainian cryptocurrency has been on fire for the last two weeks.
The cryptocurrency market had an upward trend at the beginning of the year. Because of the war, we saw a complete fall in the crypto market. The global stocks seemed to get a massive dip. However, the Ukrainian WAVES token surged by 97%. It was a huge number and surprised my investors.
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Ukrainian WAVES Token Surged By 97%
While the cryptocurrency market is facing a downfall, the Ukrainian WAVES token surged by 97%. The initial condition of war has declined the financial markets, and the stocks can be seen badly impacted by this crisis, but it is the opposite in the case of WAVES token.
The Ukrainian cryptocurrency can be seen gaining despite anxiety amongst several investors. WAVES token rose by 143% in the last two weeks. It is not the only time WAVES can see an uptrend. The token was also popular in 2017. It made it to the list of the top 20 largest cryptocurrencies in the market cap.
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The token has now surged to heights and has jumped to 39th rank. The token has seen high volatility this year. The prices have risen from $11.2 on 18 February to $28.78 currently. The prices have doubled in just a few days. These are expected to rise more in the coming times.
The Ukrainian cryptocurrency has been an exception to the market. Let’s look at the current market position of the WAVES token.
Current Position Of WAVES
WAVES, the Ukrainian cryptocurrency, is currently trading at $28.78. According to Coinmarketcap, the current market rank of the cryptocurrency is 39. The currency has been up by 31.88% since the last 24 hours. The market capitalization of WAVES is $3,10,77,08,761. The Return on Investment of the WAVES coin is 2065.59%.
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What Are The Reasons Behind This?
Several reasons can explain why we can witness a gain in the WAVES token while the rest of the crypto market has dropped.
The main reason can be the WAVES 2.0 upgrade. It aims to offer great improvements like boosting security, accessibility, and speed. This will be a development for making the blockchain extremely scalable. It would be enabled through a higher version of the WAVES consensus that will integrate the Proof-of-Stake mechanism.
The tweet related to $150 million funding and an incubation program was seen this month. It was also mentioned that WAVES labs are coming to support speedy growth across the ecosystem. They will soon start these for the US teams, and the US is an important market for driving mass adoption. This move of the WAVES by launching a fund will help boost utility and growth for the WAVES token.
The founder of the WAVES Blockchain, Sasha Ivanov, is also a Ukraine resident. He announced in a tweet that he is a Ukrainian citizen, and an upward trend was seen in the WAVES token. The Ukrainian origin of the coin may be another reason for a great uptrend in the token.
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During the Russian invasion, great support from the crypto market was seen in Ukraine. The Ukrainian government and charity organizations have received more than $50 million as cryptocurrency donations. Many famous crypto figures have stood by the country in these tough times.
Ukraine has urged Cryptocurrency donations. The wallet addresses of Ethereum, Bitcoin, and Tether have been provided yet. There is no mention of the WAVES token till now. Let us see if the Ukrainian WAVES token continues to rise in the coming times or not.
Also, check out Ukraine Military Received $400,000 In Bitcoin As Aid In Just 48 Hours
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