Waves to impress continuously; spike in TVL despite market decline

One one side total value locked in the whole DeFi space is sinking at the same time TVL in Waves protocol consistently increasing

Since this year has started, it has brought all the goods in the basket for Waves protocol as reports stated that the protocol had gained almost 79% in its total value locked from the first day of 2022. TVL of Waves was around $1.33 billion on January 1, 2022, has spiked and reached up to $2.39 billion on March 10. 

Protocols including Neutrino (NSBT), which has more than $1.3 billion locked in value, decentralized lending, Vires Finance (VIRES) having over $760 million value locked, Waves Exchange with about $140 million, and Swop (SWOP) with approx $18 million in total value locked has ultimately contributed in improving the Waves blockchain TVL. 

Although other than the above-mentioned big players, several small players that contributed to the total value locked of Waves protocol include Puzzleswap, a decentralized exchange; waves duck, a well-known non-fungible game, and even an NFT marketplace that goes by the name SIGN Art. 

In March, Waves protocol TVL surpassed $2 billion because of the contribution of such apps and platforms. Waves in terms of TVL left behind prominent networks like Polkadot (DOT), Near Protocol (NEAR), EOS (EOS), Cardano (ADA), Algorand (ALGO), and Osmosis (OSMO). 

Apart from these recent achievements on Waves, the protocol has been announced on Twitter, stating that fans of the blockchain can expect a huge airdrop event around the third week of March, which is March 14 to March 18. Participants will have chances of getting several different Waves based tokens, each assigned to simple online activities. 

Although with the announcement, one condition has also been made related to participation that only Telegram community members will be eligible for the event. 

Undoubtedly with no surprise, the increase of total value locked in Waves protocol reflected positively on the price of its native digital asset, WAVES. Now WAVES has been included in the top 50 cryptocurrencies by global market capitalization with a market cap of more than $2.9 billion. 

Waves have gained approximately 110% value per year-to-date comparison. The WAVES price has started its journey from $14.55 this year which reached its year high of $30.5 recently on March 10. 

Waves is a well-known blockchain platform nowadays in the crypto space that aims to simplify Web 3, decentralized protocols, applications building, and the launching of smart blockchain-based assets. Waves also have numerous other specifications like decentralized exchanges, automated market maker, stablecoin, decentralized lending, and non fungible token banners. 

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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