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The Waves (WAVES-USD) crypto is turning heads. A leader within top-100 crypto projects, the coin is up nearly 50% on the week. This comes as the result of a robust turnaround plan put forth by the network’s founder. As developers look to revamp the Waves ecosystem, crypto investors are keeping a keen eye on these booming prices.
It wasn’t long ago that WAVES prices were at an all-time high. In late-March, the coin was trading for over $60. However, since then, things have been downhill. A steep drop in early April, coupled with a steady decline since, has allowed the coin to drop below $10.
Much of this volatility is thanks to a bearish catalyst around the time of the initial, steep drop. Many investors turned against WAVES as it reached its all-time high, accusing the Waves network of being a Ponzi scheme.
The sudden nature of the network’s all-time high was leveraged against it in this argument. Detractors said that developers were artificially pumping up the prices of the coin by buying WAVES crypto back secretly. Couple these accusations with a sagging market and you have a recipe for sizable losses. While Waves assured holders that its developers are acting in good faith, and that the volatility is attributable to a stablecoin de-pegging, the bad press still left its mark.
WAVES Crypto Prices Soar as Developers Prepare Turnaround Plan
The Ponzi scheme accusations were effective at disrupting the Waves crypto ecosystem. To combat…
