Waves (WAVES) price explodes to fresh all-time highs

Waves (WAVES) price has printed fresh record highs above the $5.00 handle this week to extend its impressive performance in November. 

Fundamental analysis: Waves establishes a $3 million grant fund to foster cross-chain interoperability solutions

Earlier it was announced that the Waves Association plans to set up a new grant program to support cross-chain interoperability development.

Waves will establish a pool of 1 million Waves tokens, which is worth around $3 million at the moment of writing. The program will involve grants of up to 300,000 Waves to promote creating solutions for interoperability and cross-chain communication.

The project will involve three types of grants - open grants, grants offered via hackathons and grants focused on Waves. 

Furthermore, the Waves team will also back blockchain-agnostic solutions, Laureyssens said.

Grants that will be distributed through hackathons and Waves-focused grants will have to respect specific guidelines, which means that they will involve the Waves blockchain in a way. 

Technical analysis: WAVES prints record highs

WAVES price has continued its impressive bullish form to total weekly gains to over 13% after moving nearly 25% higher in the last week. This week’s high of $5.26 is a new all-time high for the digital asset.

Looking from here, WAVES/USD is likely to continue ascending higher towards the next resistance line at $5.52. The opposite scenario would see the price action pullback towards $4.78, which now acts as support, to yield an opportunity to buy WAVES. 

Summary

The Waves Association is planning to initiate a new grant program of 1 million Waves tokens to support creating solutions for interoperability and cross-chain communication. On the market side, WAVES printed fresh all-time highs this week.