The #71 Largest Cryptocurrency by Market Cap, Waves [WAVES] made a splash earlier in the year due to prices taking a deep-sea dive in April 2022. Have previous problems already evaporated or will they start raining again? These stats had some insights to share.

Lots of drops, lots of WAVE

As of going to press, WAVES waved from hand to hand at $5.84, after the price fell 16.07% in the past day while losing 14.44% in the past week. Wave volume, which had been in a downtrend since about May 9, started to rally again as another opportunity to buy the dip presented itself.

Source: Santiment

That said, it’s not just the stats that have a story to tell. Waves founder Sasha Ivanov recently posted a tweet criticizing “morally reprehensible” developers who got rich from crypto.

About 48 hours after the statement was released, development activity on WAVES collapsed. While it is still much higher than the levels recorded earlier this month, it is important to note that development activity on Waves increased while the price of the coin fell.

Source: Santiment

So, what about the price of WAVES? The Bollinger Bands for the asset have admittedly moved closer together as the price has declined. However, WAVES’ most recent red candles have yet to make contact with the lower band. This indicates that the asset may not be oversold yet.

Source: TradingView

We are not the same

Like TerraUSD [UST] broke off its peg and crashed in price, investors may remember Waves’ stablecoin Neutrino USD [USDN] it fell below USD 0.70 as its own peg became unstable. Comparisons are inevitable, but Ivanov claimed that the two stable coins were: “completely different.”

He tweeted

“When you redeem UST, a new Luna is issued, which corresponds to the dollar value of your UST. If Luna is cheap, tons of new Luna can be spent (this brought UST down) In Neutrino you will only receive Waves locked into the smart contract.

About the Terra team, Ivanov added

“They just printed a new UST and paid 20% yield with it.”





This post WAVES: How to Make Your Investors Angry ft. developers

was published first on https://ambcrypto.com/waves-waves-how-to-make-your-investors-angry-ft-developers/

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