Waves Holds Price on Vostok Announcement

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Waves, which has enjoyed a remarkable bear-busting 172% rise in a little over a week, managed to hold its price after the announcement that many feared would see it massively reduced. After weeks of building hype, Waves CEO Sasha Ivanov announced Thursday that Waves had secured $120 million in funding for ‘Vostok’, a private blockchain platform and system integrator for enterprise use. The fact that the price of the coin barely dipped adds weight to the theory, posited by Ivanov himself a week ago, that Waves may be ‘decoupling’ from Bitcoin.

More Good Times Ahead for Waves?

Vostok is the culmination of several weeks of positive news for Waves investors, following upgrades to their platform, particularly in relation to their mobile offering. Developed by Waves software engineers, Vostok, which is named after the first spacecraft to carry a man into space, has been built specifically for large enterprises and public institutions who wish to utilize blockchain technology. The launch of the first projects in Asia and Europe is expected at the beginning of 2019.
The Waves roadmap offers further evidence that the coin value could continue to follow the recent trend, with developments such as decentralized two-factor authentication, smart asset capabilities, and atomic swaps all coming in 2019.

Playing the Waiting Game

Waves has made a great start in its attempt to decouple from Bitcoin, which can be equated to a rocket heading to outer space – it needs enough power to blast it through Bitcoin’s extensive gravitational pull before it can escape and rely on its own propulsion. Bitcoin’s recent uptrend may give us a slightly false impression of Waves’ ability to operate outside Bitcoin’s influence, and we may need to wait for a Bitcoin retracement before we can be sure of anything.
It may be too early for us to be looking for such clear signs for a decoupling, especially when Ivanov himself says that 2019 is the year when decoupling will become a feature of the crypto landscape. But. if Waves can continue to lead the way it may give investors the confidence to buy and hold projects with genuinely solid fundamentals when Bitcoin takes its inevitable downward moves.