Waves Reveals its Master Plan to Address the Latest Ecosystem Upheaval

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Since April 2nd, 2022, the Waves DeFi ecosystem has been through a string of unfortunate events leading to the de-peg of its stablecoin, USDN. This caused a severe liquidity crisis for one of its DeFi proto...

Timeline of Waves

Waves, a proof-of-stake blockchain platform for decentralized applications, has announced measures it says will help address the recent upheaval that rocked its DeFi ecosystem. Specifically, the “Master Plan”, as the four-step measures are called, is aimed at ensuring the ecosystem's algorithmic stablecoin Neutrino USD (USDN) restores dollar parity, whose loss led to a massive liquidity The post Waves announces 4-step Master Plan to ‘save' its DeFi ecosystem appeared first on Invezz.

Waves (WAVES) has fallen below long- and short-term support levels and is now approaching its 2021 lows. The post WAVES Is at Risk of Breaking Down From 679-Day Support Line appeared first on BeInCrypto.

Waves is one of the cryptocurrencies that has been playing-wise over the years. The cryptocurrency has focused on delivering an open forum for decentralized applications (DApps). That processes payments with a reduced carbon footprint utilizing Proof-of-Stake (PoS) consensus. The endeavour has already progressed beyond its primary purpose of offering faster, higher data rates than some …

WAVES has turned out to be one of the few cryptocurrencies whose price action has avoided more downside as the rest of the market crashed. A surprising turn of events considering that it tanked hard in April after delivering an impressive run in Q1.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. As the buyers finally deny the bears an extended sell-off liberty at the $12.8 -support, WAVES flipped the month-long trendline resistance (white) to support.

Though the largest cryptocurrency, Bitcoin, is on its fifth losing streak, the Waves coin fights off the broader market sentiment and turns green on the intraday chart. The altcoin rebounds from the $12.75-$12 support zone with a morning star candle and reaches the $14.48 mark.

The V-top reversal from the $62.36 mark has plunged the WAVES price to $12 support. The falling price has breached multiple support levels and EMAs support, displaying a 78.23% loss.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. While the sellers finally deny the bears an extended sell-off privilege at the $11.8 baseline, WAVES flipped the month-long trendline resistance to support.

Waves [WAVES] was in the news after its prices saw a small recovery, but the tides have turned since then. In fact, when you zoom out and look at the candles with a bird's eye view, you can see that WAVES has been plunging into the red since the start of April.

This month was a fraught time for one alt coin community in particular. Between March and April 2022, Waves [WAVES] hit all-time-highs above $50 but since then, the price of the asset has plunged.