The Waves (WAVES-USD) network has been a major talking point among crypto investors this week. The project seems to be getting caught up in a bit of drama. All the while, the network’s flagship WAVES coin continues to tumble in value. This news is devastating to WAVES holders, but does it mean the end of the coin, or a unique buying opportunity? We can turn to WAVES crypto price predictions to find out.
Waves has been an interesting project from the jump. Founded by Sasha Ivanov in 2016, the layer-1 network has gained notoriety from abstaining from operating like other networks. For example, Waves does not utilize Ethereum’s (ETH-USD) Virtual Machine software suite, a technology that drives a significant portion of the world’s chains.
The network has benefitted greatly from the altcoin boom of 2021. Since January of last year, the network has grown its market capitalization from under $700 million to over $3 billion today. But recent weeks have been friendlier than most. At the end of March, the WAVES coin surged from $32 to an all-time high of over $60.
These good times didn’t take long to sour, though. Drama has been sweeping over the network. First came accusations that Waves, with its Eastern European ties, is an avenue for Russian sanction evasion. More rumors spread that the Waves developers were using DeFi platforms’ liquidity to artificially pump their own coin’s value.
This in turn has led to Ivanov taking aim at those short selling the WAVES coin. In particular, Ivanov is targeting Sam Bankman-Fried’s Alameda Research, saying that firm is dragging down coin through short selling and smear campaigns.
WAVES Crypto Price Predictions: Can Waves Recover and Post New Gains?
The news is obviously not very good for WAVES holders. Regardless of whether these accusations are correct doesn’t matter any longer; the coin has dropped over 53% in the last week. But, that doesn’t mean the coin is over with. Could it turn back around and climb again?
Waves’ network isn’t barren. On the contrary, it’s actually quite robust, with nearly $3 billion in total value locked (TVL) on the chain. It hosts DeFi platforms and non-fungible tokens (NFTs), and it generally has been very good at creating its own takes on industry trends. Is this fundamental strength enough to shrug off the recent volatility? Let’s take a look at some WAVES crypto price predictions and see what analysts think:
- DigitalCoinPrice expects WAVES to gain atop its current $28 value by the end of the year, but not by much. The outlet forecasts an end-of-year price of $36.91.
- CryptoNewsZ is slightly more bullish, expecting the coin to end 2022 at a price of $44.19.
- Wallet Investor sees WAVES nearing its all-time high once again. By April of 2023, the site expects the coin to reach $59.49.
- Gov Capital is forecasting a $43.57 price for WAVES by April of next year.
On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
