Waves (WAVES) price saw a significant rise in May. With recent advances in decentralized finance (DeFi) and non-fungible token (NFT), keeping real-world solutions has been instrumental in this.
Data from Tradingview showed that after falling to $ 12.22 on April 25, the price of Waves surged more than 205 percent to an all-time high of $ 37.61 and a record $ 1.24 billion in 24-hour trading volume. It shows that you are signing. Only in the first days of May, an increase of 60 percent was achieved.
Adoption in the real world has sparked price
The spark that made the double-digit rise possible last week came with the announcement that Waves Enterprise has partnered with Russian space agency Roscosmos to test a tool that uses blockchain technology to prevent IPR infringement.
@roscosmos and #WavesEnterprise launch a new blockchain service to protect IP rights. The service brings together subject matter experts from Roscosmos and elsewhere, providing smooth detection and violation management as well as token incentives.https://t.co/Vec6gNmTKG
— Waves Enterprise (@wvsenterprise) April 27, 2021
WAVES also increased its popularity with the launch of the Wave EGG project, where Users earn special tokens by generating NFT.
Total asset locked on the network’s Neutrino stablecoin protocol on April 29 Exceeded $ 1 billion.
Before the WAVES price hike on May 3, decentralized oracle service provider Chainlink announced WAVES / USD data streams that can be easily integrated into the DeFi market.
Chainlink’s decentralized oracle networks support the growth of #DeFi by securely bringing external data on-chain. Easily integrate #Chainlink’s pre-built WAVES/USD Price Feed to build derivatives markets around @wavesprotocol’s native asset, already relied on by @Bondedfinance.
— Chainlink – Official Channel (@chainlink) May 2, 2021
Additionally, social sentiment increased with the price, according to data from TheTie. The long-term sentiment score increased from 53 to 93 in less than a week, with the increase in Tweet volume.
Real-world examples that have attracted the attention of governments and companies seeking to integrate distributed ledger technology with active DeFi and NFT communities have pushed the WAVES protocol forward.
The opinions and comments expressed here belong only to the author. It may not reflect Cointelegraph’s views. Every investment and trading transaction involves risk. When making your decision, you should do your own research.