Waves cryptocurrency jumped 21% and outperformed the broader market during a bear year, ranking ninth in transaction volume despite lower market cap. The presenter's own token, BitcoinNYK, which trades against Waves, rose 20% to $0.72 as a result.
Hey you, welcome back to the channel. Guys, today I'm excited to tell you about Waves. Waves is up 21% today. Waves has always performed quite well over this over a year-long bear market. It has kind of put to rest the idea that cryptocurrencies have to move in accordance with the bear market. I'm beginning to think that's just an excuse that many cryptocurrencies make that have depended on the movement of the market, such as Bitcoin, etc. But why the price of Waves has been so bullish today, up 21%, I don't know. It's broken over $3. It could be many factors with Waves. It's hard to tell. Sometimes there's delayed factors, but I do want to point you at Where Waves ranked as the cryptocurrencies that does the most transactions. Now, although Waves is not a top 10 token, it does more transactions and is ranked the 9th. Does— it was number 8, looks like, uh, Telos has gotten in there, but Waves, um does is in the top 10 of doing the most transactions. So we know this is a used token. And here are some of the others that we can tell get used. Surprisingly, Bitcoin— well, not surprisingly, Bitcoin is far from number 1. It's not being used as much as EOS, WAX, and BitShares and Steem. And so the reason, you know, with Steem, you know, Steem is pretty much driven by social media. And I've always stressed that social media, I think, is a great mass adoption vehicle and a perfect component to how the cryptocurrency space works and moving that social value and social capital across the network. Um, which kind of leads me off from what's causing the price of Waves to go up to our project BitcoinNYK, exciting enough to say being also pulled up 20% to date. Now that's not a surprise. It all stems from BitcoinNYK trades against the Waves market. It trades against Waves tokens. The buy orders are in Waves. So when the price of Waves goes up, it has to pull BitcoinNYK along with it. So we've jumped up to $0.72 during this development. Um, and just excited about that, guys. I always liked Waves. Uh, you know, a lot of people, uh, you know, I've been on the Waves bandwagon for years now, but now a lot of people are starting to see the great, uh, situation with Waves. Um, Waves, uh, great token, doesn't make excuses, showing us it can kick butt in a bear market at any time. And Waves was doing this for months. Waves was over $4. It gained about 300 to 400% over the height of the bear market. And so, you know, we don't necessarily have to buy that tokens have to stay down in a bear market, right? But guys, that's all I really want to bring you today. I was just excited about that news. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.
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