Although the price of WAVES is more than 80% below its all-time high, there seems to be a sign of recovery. ADA is worth around USD 0.6268 but may exceed one US dollar after the Vasil hard fork occurs.
The crypto market seems to be recovering after undergoing a long negative period. For the first time in over two months, the price of Bitcoin (BTC) closed a week in the green. That rise has boosted the rest of the cryptocurrencies.
This week, WAVES had a 50% rally and regained parity for its algorithmic stablecoin, more luckily than TerraUSD (UST).
Cardano (ADA), whose network will soon undergo a hard fork called Vasil soon, rose by almost 20% over the last week. On its part, the NEO token had a boost of more than 13% in that period.
Bitcoin closed in the green for the first time since the fourth week of March with a modest 1.53%. The price of other leading cryptocurrencies, like Ether (ETH) and the Ripple token XRP, also rose slightly.
Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), and Polkadot (DOT) did not share the same luck. Although all are part of the top 10 of the crypto market, they closed in the red within a 7-day range.
Unlike TerraUSD, the Price of the Stablecoin WAVES Recovers
The collapse of LUNA and UST is still on the mind of people in the event of a cryptocurrency project. Moreover, the situation is even worse regarding a stablecoin losing its parity with the US dollar.
That happened to the Waves stablecoin Neutrino USD (USDN) last week after aggressive selling in the Curve Finance liquidity pool. However, the protocol stabilized the parity, which the market rewarded with the rise of the WAVES token.
The price of WAVES rose by 51.94% in 7 days to settle at USD 8.64 and even exceed USD 10 per unit. Although it is more than 80% below its all-time high, there seems to be a sign of recovery this week.
While the market capitalization of Waves is just below USD 1 billion, its trading volume has been 670 million over the last 24 hours.
The Cardano Price Rises as Investors Wait for the Vasil Fork
Enthusiasts of a project and the overall market always have expectations over a network upgrade. It is now the turn of Cardano (ADA), whose hard fork Vasil will occur soon.
There has been a 19.65% increase over the last seven days, as the market expects the improvements Vasil will bring to the Cardano network. The ADA token is trading at around USD 0.6268 but may even exceed one US dollar after the activation of the upgrade.
The market capitalization of Cardano is about USD 21.1 billion, occupying 6th place in the cryptocurrency ranking. However, ADA would be fourth if the stablecoins Tether (USDT) and USD Coin (USDC) were not on the top ten list.
The daily trading volume of ADA has exceeded USD 1 billion over the last 24 hours, rising by over 144%.
By Alexander Salazar
