The Waves project has been making a lot of headway over the years. Despite its success in the early stages, it almost appears as if the project has dropped off the radar. In reality, Waves has never been more active on a lot of fronts, making it another project worth keeping an eye on.
It is crucial to note that a lot of cryptocurrency projects have an active group of developers and contributors maintaining the code. Introducing new features, however, is something that a lot of projects seem to lack. Judging by CoinGecko’s statistics, Waves has had 33 code commits in the past 4 weeks, resulting in 5,502 lines being added and 2,655 pieces of code being removed.
To put this in perspective, Waves has a total of 51 code contributors over the past 4 weeks. It is a fair number, especially when compared to a lot of other projects on the market. However, when looking at the bigger picture, a more impressive statistic becomes apparent. The CryptoMiso statistics show that development for this project is picking up steam again.
In the past 12 months, Waves’ repository has received 552 commits from 56 contributors. A lot of the development appears to take place in “spurts, so to speak. Depending on how one wants to interpret the statistics, it appears that some new feature, service, or product is nearing completion.
A new Core Partnership
Earlier today, it became apparent that Waves Enterprise has forged another strong partnership. With the help of Microsoft’s Russian office, a strategic cooperation in the field of corporate blockchain solutions and cloud technology has been made official. Microsoft Russia’s president even states how Waves Enterprise is a leading international blockchain platform.
A direct result of this collaboration is how Waves’ technology will be integrated into Microsoft Azure cloud technologies moving forward. Microsoft has shown ample support for blockchain projects in recent years. Getting Waves Enterprise on this playing field can lead to some very intriguing projects and products.
A new Focus on Decentralized Finance
The rising popularity of DeFi cannot be ignored. With most of the action taking place on Ethereum, other blockchains are seemingly being overlooked a bit. The Waves team is intent on exploring the option of decentralized finance services and products on its blockchain.
One project is currently live in the form of the Neutrino protocol. It lets users create interest-bearing stablecoins backed by digital assets. Focusing on developing countries, and regions where financial access isn’t straightforward, will help elevate Waves’ DeFi position moving forward. Creating the first decentralized foreign exchange is an ambitious goal, but it may become a reality fairly soon.
Keeping the Community Engaged
Social activity is a key metric for any cryptocurrency on the market today. Waves is checking all of the right boxes right now, although its news volume can be improved upon a bit. With a strong boost in social volume, engagement, and dominance, Waves is looking very impressive across the board.
It is also worth noting that the bullish sentiment attributed to this project is effectively on the rise. A strong gain of 7.8% has been noted. In terms of social dominance, Waves has gained 687.5% in the past week. A massive spike, further confirming that this project cannot be overlooked under any circumstance.
Liquid Market cap and Real Volume
Comparing all of the different cryptocurrencies is only worthwhile when looking at verifiable data. In the crypto space, that is often much easier said than done. Messari is a great platform, as it shows the liquid market cap of different projects. Waves’ liquid market cap currently sits at $149,509,727. Pushing it above $150 million is certainly possible. Currently, the project sits in front of Siacoin, Handshake, Nano, and so forth.
Keeping tabs on the real trading volume is equally important. In the case of Waves, things are not looking too bad. Obtaining rank #32 is admirable, as it ranks ahead of Zilliqa, Aave, 0x, Basic Attention Token, and even Dogecoin. Keeping this momentum going shows that there is a bright future ahead for this project.