Today, I’d like to take a look at a cryptocurrency that despite its name, hasn’t been making waves recently. I’m talking about the Waves Coin cryptocurrency. Waves is going to be on the road this summer. The company will be visiting the world’s five biggest tech centers: New York, Amsterdam, London, Berlin, and Moscow. Here's all you need to know about the token.
What You Need to Know About WAVES Coin
Ranking 40th on the cryptocurrency market cap list, WAVES coin is operated by Waves Platform AG. It allows users to launch their own custom cryptocurrency tokens.
WAVES was created by Alexander Ivanov and was first released on 7 June 2016.
Let's do a quick comparison to other popular cryptocurrencies such as Bitcoin and Ethereum. Both Bitcoin and Ethereum can be traded on external exchanges. Ethereum allows users to create new tokens on the platform using a smart contract.
However, Waves coin includes this functionality in its core software and wallet.
Users can create, transfer and exchange blockchain tokens on a peer-to-peer basis, paying transaction fees in the native WAVES token.
In other words, Waves enable you to make custom tokens, which means you can launch your own cryptocurrencies.
You can also do decentralized trading and crowdfunding, as it has integrated fiat currencies like USD and EUR in it’s Waves wallet as well.
Another feature that sets Waves apart is that you can easily launch ICOs to fund your projects from around the world, without going through intensive cryptocurrency coding.
WAVES Coin Price Action
Despite all these cool features, Waves token has been having difficulty crossing above a key resistance level at 38% Fibonacci at the price of $8.22. It has been consolidating above the daily Ichimoku cloud after it bottomed out and crossed above the cloud back in April.
Perhaps the upcoming summer roadshow could create some surging waves in the cryptocurrency’s sentiment.
Don't forget to complete your risk management due-diligence before developing your investment strategy.
*This article was originally published here.