Waves (WAVES) is really going crazy after hitting an all-time high (ATH) twice in a row since yesterday, bringing this asset to break into the top 50!
For the record, WAVES touched ATH early this morning, $ 47.59 after making its first ATH jump, $ 38.35 at midnight last night Malaysian time.
Indirectly, WAVES has jumped nearly 13% for ATH records and nearly 50% in 24 hours, while nearly 200% in a month.
What happen?
Some positive factors deserve attention:
The total locked value (TVL) in the Neutrino protocol has increased 338% since last month.
The Neutrino Protocol, the largest protocol in the network, is a multi -asset price stability algorithm protocol in Waves
Neutrino owns 62% or $ 1.74 billion of the $ 2.8 billion locked in the DeFi ecosystem in the network.
The supply of Neutrino stablecoin, USDN has increased in the month, bringing pressure on the price of WAVES.
USDN generation depends on the number of WAVES locked in the Neutrino smart contract.
The redeemed USDN will be burned to unlock the supply of WAVES.
Total USDN has increased 66% since mid -February (around over 350 million USDN) equaling the number of WAVES locked in for new USDN yields.
An update to Waves 2.0 which makes this network faster and more secure, along with the presence of Ethereum Virtual Machine (EVM) compatibility.
Analysts argue there are two reasons why the USDN is witnessing exceptional demand leading to price pressure for WAVES: high interest among investors, and market conditions that are beginning to sustain.
At the time of writing, WAVES is trading at $ 47.91 a unit, up nearly 50% in 24 hours.
