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WAVES Almost Doubles in 48 Hrs as its Vostok Project Secures $120 Million in First Round of Funding

The Waves (WAVES) cryptocurrency has continued to outshine the rest of the pack as it has almost doubled in value in the last 48 hours. Early Tuesday – December 18th – found the digital asset trading at $2.53. The same digital asset is now trading at $4.05 after briefly reaching a value of of $4.57 a few minutes ago.

This is an 80% increment in between the $2.53 and $4.57 values. The 24 hour trading volume of WAVES currently stands at $133.4 Million which is an impressive figure for the digital asset that is ranked 19th according to market capitalization on Coinmarketcap.com.

Vostok Project Secures $120 Million in its First Investment Round

One major reason for the spike in value of WAVES is the fact that the project has managed to raise $120 Million in a first round of funding for its Vostok Project. The funding has come from private and institutional investors. The Vostok Project is focused on the implementation of Waves Technology in enterprise and government IT-systems.

Waves Founder and CEO, Sasha Ivanov, had this to say about the future of Blockchain.

The cryptocurrency rush is over now, while the idea of using a decentralized network to store data and cut costs is still relevant.

Waves to Become the First WEB 3 Company

The team at WAVES plans on having the platform become the first WEB3 company. WEB3 is the third version of the internet that is currently being driven by blockchain and decentralization. Blockchain has proven to bring true peer-to-peer transactions without middlemen and Bitcoin was the first mainstream digital asset to introduce us to the concept. Waves Platform was founded on the principle that blockchain is a technology of and for the people

The team at WAVES explains the following about the platform’s role in WEB3.

Waves Platform has embarked on a mission to become the first WEB3 company, developing internet technologies (AI, IoT, etc.) powered by blockchain technology to support a truly open and decentralised web.

Our accumulated experience and technical knowledge, as well as ever-expanding ecosystem and portfolio, have definitely been the driving factors behind the success of the project’s development.

In general, Waves Platform will continue to identify gaps in the market and opportunities for Internet-based technologies (blockchain included) to facilitate productivity and performance of internal systems across industries.

What are your thoughts on the massive 80% jump in value witnessed by the WAVES cryptocurrency in the last 48 hours? Do you agree that with the Sasha Ivanov’s claim that the cryptocurrency rush is over? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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