In the past couple of days, Bitcoin and other altcoins are experiencing a strong bullish trend. Among the best performers in the industry, the eponymous Blockchain platform’s native token, WAVES Price has emerged as one of them.
The token jumped more than 65% in the last 24 hrs hitting an all-time high above $50. The launch of the US venture, Waves Labs, might have pushed the token’s price to hit an all-time high.
At the time of writing, WAVES Price is trading at $53.24 with a surge of more than 60% in the last 24hrs. Along with the token trading at ATH, the market capitalization now stands at $5 billion and the trading volume has also surged to over $3 billion.
However, if the asset faces a 100% extension, then the price might hit above $53.07.
The token’s bullish movement has placed the token as 32nd largest cryptocurrency replacing Decentraland’s MANA and Axie Infinity (AXS)
A Blockchain, Waves Protocol allows for the creation of custom tokens and smart contracts.
Waves Lab Launched!
In a press release by the company, it is said that Waves Lab is a new venture representing the blockchain in the United States. As per the release, the firm is not only looking forward to raising funds, but also supporting new projects on the blockchain and engaging in a robust marketing and hiring plan.
The Waves protocol also plans to establish a decentralized governance model with increased integration with another blockchain. The firm announced that it has hired a senior leadership team and the protocol founder, Sasha Ivanov will serve as an advisor to the firm.
Also, the daily chart predicts the Waves price’s strong bullish trend. The coin has rallied above 25-day and 50-day moving averages while the Relative Strength Index has moved to an overbought level.