Waves Jumps 57% Overnight on Mobile Wallet Rollout; 139% Gains Since Recent Low

Waves (WAVES) jumped 57% in value leading into Tuesday, compounding nine days of near continuous growth which has seen the coin grow 139% against the dollar. This marks a huge turnaroudn for the coin which only last month was nursing 94.9% losses over the year.

The blockchain platform, which comprises smart contracts, token issuances and a decentralized exchange, just finished re-tooling its mobile wallet app, which now allows users to access every aspect of the Waves ecosystem from their smartphones.

Waves Price – WAVES/USD

Waves fell a staggering 94.9% in value from December 2017 to November 2018, breaching the $1 valuation en route to an eighteen-month low of $0.0918405 on Nov 25th.

Since then it’s been nothing but gains, and day-on-day growth carried the coin to 139% gains over nine days, taking the dollar valuation to $2.14. The growth also outpaced Bitcoin, and saw Waves priced at 0.00053627 BTC – a valuation not witnessed since early June.

Trading volume for the coin hit levels not seen since September, rising from $7 million to $37 million leading into Tuesday afternoon, with most coming from the WAVES/BTC pair.

With so much BTC to be gained at these prices, the odds are we see a lot of Waves being sold for Bitcoin in the coming days, however the coin is likely to hold on to at least some of its healthy gains from the last week or so.

Waves Mobile Wallet Update

Waves had been operating with a functional mobile wallet app for some time, but according to the Waves team, they saw that more could be done:

“So we went back to our keyboards and fully reworked the app. The result is a comprehensive, all-in-one app for mobile devices with an absolutely unique feature set that includes a crypto wallet, the Waves DEX, and fiat gateway.”

The new version of the wallet includes fully encrypted mobile traffic, and encrypted private keys which are stored locally and never accessed or broadcasted. Security measures, according to the release notes on Medium, also include face recognition software, Touch ID, and fingerprint scanning.

The app provides access to the Waves DEX, which at the moment has 69 trading pairs and a daily trade volume of around $2 million. According to the Medium post:

“There’s also access to fiat and crypto gateways, so you can deposit, store, trade and withdraw other assets. We’ve incorporated the most popular digital asset management tools from the platform, so you can send tokens to your address book contacts, lease your WAVES, receive warnings about suspicious tokens and burn any spam assets you don’t want.”

A testnet update was released to Github last week which brings Waves’ Smart Assets into play for the first time. According to CEO and founder Sasha Ivanov, this equates to Waves’ version of the ERC-20 token, and is expected to be rolled out next week.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.