Should I buy WAVES in January 2022?

WAVES/USD has weakened from $23.32 to $13.94 since December 02, and the current price stands at $16.24.

Platform for decentralized applications

Waves is a global open-source platform for decentralized applications that has gone from a small startup to an important player in the global blockchain industry in a relatively short period.

This project was launched in 2016 by Ukrainian-born scientist Alexander Ivanov, and it is based on proof-of-stake consensus.

Waves enables you to create a dApp through a developer-friendly infrastructure, while you can also trade any pair of tokens without conducting a transaction through an intermediate currency.

This platform represents a testing ground for innovation, and it is important to say that it offers benefits for its users in any use cases that demand security and decentralization – personal identification, gaming, open finance, and many others.

Waves is built and maintained by the community, while the Waves Association, a Berlin-based non-profit organization, provides grants for projects based on Waves stack.

User experience and security are top priorities of Waves ecosystem, and according to the latest news, Waves has created Waves Keeper. The community of Waves added:

Waves Keeper is an intuitive browser extension that keeps your funds safe at all times. Waves Keeper has the ability to create a keystore file with which you can also easily restore access to your account.

Many important projects already collaborated with Waves, and the most popular ones include Neutrino, Vires Finance, Gravity, and Swop.fi.

Waves tokens have the symbol WAVES, and to interact with this platform, you should use WAVES tokens.

WAVES plays an important role in the ecosystem of this global open-source project, and at launch, WAVES had a fixed asset cap of 100 million tokens.

That changed in October 2019 when the total number of tokens increased after token holders elected to move WAVES from a fixed asset to an inflationary one.

The current circulating supply is above 107 million tokens, and more and more exchanges are offering this cryptocurrency.

Bears in control of WAVES

WAVES has collapsed from its recent high above $34, registered on October 14, to $33.94, while the current price stands at $16.24.

Data source: tradingview.com

The important support level for WAVES stands at $12, and if the price falls below it, the next price target could be around $10 or even below.

The current resistance level stands at $20, and if the price jumps above this level, it could reach levels above $25.

Summary

Waves is a truly unique project with big potential, and to launch a smart token on Waves you don’t need to have programming experience, and it is as simple as a few button clicks. To interact with this platform, you should use WAVES tokens that are ​used to secure the network through staking and paying for fees.

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