Does anyone have any idea why the price of Waves is surging ? Is it related to a certain event or something ?
Technical wave 5 blow off top.
1 was 4.81
2 2.06
3 42
4 7.56
5 anywhere from 84 usd to over 200 maybe 400 usd
Then abc bottom -95% supercycle 3 year bear where ever the top formed
Could expect some retracement from 30 level maybe down to 15 but now that is broke 24.8 I don't think sub 8 is back on the table. Probable mid march cycle 60 day low around 13-15 and then continuation over ath. But also possible straight to 84.
Waves is 100 times cheaper than Eth and fees are still ok. Eth is a bit over valued but the fundamental valuation metrics are not the same as Waves because of the value of the dapps such as Opensea and vintage NFTs which waves does not have and can never obtain. Combined with continued ecosystem protocol dilution fair value in peak bull mode is low triple digit but it will be short lasting and dive back into secular bear mode soon.
Would not advice new investors to speculate with big money here at 27.5 unless immediately swopping it for passive income. Swop is not risk free by the way.
The time to allocate big money in waves was at 60 cents and if you want something similar to waves at baseline valuation then put a few thousand into TurtleNetwork it is only 500k market cap and did not yet x20.