Why is the price of WAVES coin skyrocketing?

The WAVES coin has broken ranks with the rest of the popular coins and unleashed a monster Bull Run registering a 207.5% rise over the past 14 days. Today alone, the coin has risen by about 31.85% confirming that it is in the current bullish trend for a longer-term.

At the time of writing, WAVES was trading at $28.44 with a trading range of between $21.64 and $30.58.

But why is the price of WAVES steadily rising at a time when a majority of popular coins can hardly make considerable gains before being overrun by the bear market and losing the gains. Bitcoin, for example, was yesterday was trading above $42,000 is today trading at $39,184.

In this article, we shall look at what is behind the current WAVES coin price rise.

What is WAVES?

Before getting into why WAVES price is rising, it is important to first understand what WAVES coin is.

In a nutshell, the WAVES coin is the native token of the WAVES blockchain platform that supports the use of smart contracts and decentralized applications (dApps).

Why is WAVES price soaring?

One of the reasons why the price of WAVES coin is soaring is because its founder is from Ukraine and he recently tweeted about that saying: “I am from Zaporozhye, Ukraine.”

I am from Zaporozhye, Ukraine. pic.twitter.com/NwsYRztjr0

— Sasha Ivanov 🌊 (1 ➝ 2) (@sasha35625) February 27, 2022

Crypto has played a great role in donations being sent to Ukraine following the current invasion by Russia and the fact that WAVES founder is from Ukraine makes the coin attract a lot of attention within the crypto space where the majority are standing with Ukraine.

The other reason is the upcoming WAVES 2.0 upgrade, an enhanced version of WAVES that will focus on security, speed, and accessibility within the WAVES platform.