Although the overall crypto market continues to be extremely bearish, there have been a few reasons for traders to smile. The main reason for encouragement is the recent spike in Bitcoin’s (BTC) value. Bitcoin has increased roughly 28% since December 17th. Given that Bitcoin was recently in danger of dropping below the much feared 3,000 level, traders will gladly take the early Christmas present of 4,000+. It’s still unclear if the bulls have returned or if this is simply a dead cat bounce. Either way, it’s an encouraging sign for the overall crypto market.
New Mobile App Announcement
While altcoins generally haven’t participated in the recent Bitcoin rally, one coin that continues to defy expectations is WAVES. WAVES is a decentralized blockchain platform focusing on custom blockchain token operations. National currencies transfer is maintained on the Waves blockchain trough compliant gateway operators.
Waves has had an incredible month driven primarily by extremely positive developments on the technology front. In early December, Waves announced a comprehensive, all-in-one app for mobile devices. This app includes a one-of-a-kind feature set that includes a crypto wallet, the Waves DEX, and a FIAT gateway. This development certainly sets Waves apart from its closest competitors.
One of the biggest issues among all crypto users is privacy. Privacy is so important that it has spurred the growth of several privacy focused coins such as Monero (XMR) and Zcash (ZEC). This new mobile app has addressed privacy concerns by encrypting all traffic. This means that the keys never leave one’s smartphone, are never exposed to the web, and are stored locally. The app also does a nice job of supporting additional security measures such as Face ID, Touch ID and Fingerprint scanning. Taken all-together, mobile app users can rest easy knowing their data is secure.
Waves is also known for having one of, if not the fastest, decentralized digital asset exchange in the world. The primary advantages of DEX include the following:
- Decentralized and anonymous
- Unlimited crypto withdrawals
- Thousands of pair trading options
- Transaction settlements completed within seconds
- Available on any device
- Fees less than $0.01
- Average 24h volume of more than $6.3 million
Given the popularity of DEX, it makes complete sense for mobile users to now have access to it. This includes all the same tools and charts that desktop users have access to. Any way you slice it, this is a huge development for the Waves platform.
December Price Surge
Although most coins are having a December to forget, Waves is having a December to remember. Waves was trading at $1.24 to start the month but has more than tripled in price since. The coin is now trading at $3.88 as of this writing.
While that kind of return was common in 2017, it’s the kind of return that gives hope to many crypto traders that the good old days can return once again.
The chart clearly shows that the coin surged immediately after the announcement. While a price rise isn’t terribly uncommon after a press release, the follow through is. Waves has continued its surge through the entire month of December.
Christmas certainly came early for Waves hodlers.
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.