What is the current price of Waves?
The current price of Waves is $0.2628 with a 0.91% change in the last 24 hours.
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Derivatives and mapped ecosystem data, with source timings and coverage.
Waves is an independent layer 1 blockchain, launched in 2016, built around simple token issuance, a built in decentralized exchange, and a purpose designed smart contract language called Ride. It uses Leased Proof of Stake, so holders can lease their WAVES to a node operator to help produce blocks without giving up custody. WAVES is the native asset used for fees, leasing, and block rewards.
Waves also carries a difficult recent history that any honest overview has to state up front. In 2022 the ecosystem's algorithmic stablecoin, Neutrino USD, lost its dollar peg, the main Waves lending market froze withdrawals, and users faced very large losses. The stablecoin was later renamed XTN and redefined as an index token with no peg guarantee, and major exchange support has narrowed since. The chain continues to produce blocks and its node software continues to ship, but the ecosystem today is materially smaller and structurally different from the one described in pre-2022 material.
Official sources:
Waves was founded by Alexander Ivanov, widely known as Sasha Ivanov. The project raised funds in a 2016 token sale and its mainnet began operating in June of that year, positioning itself around fast, cheap token creation at a time when issuing an asset on other chains was comparatively awkward. The ecosystem grew through a native exchange, later renamed WX Network, a lending market called Vires Finance, and the Neutrino protocol, which issued a WAVES collateralized algorithmic stablecoin called USDN.
That structure broke in 2022. USDN slipped from its peg in April 2022 and again through the middle of the year, and Vires Finance suffered a run and restricted withdrawals. In August 2022 the community approved a recovery proposal that reset the lending market, applying vesting terms and conversion options to the largest stablecoin accounts. In November 2022 USDN was renamed XTN and redefined as the Neutrino Index token, a multi collateral index backed by a basket of Waves ecosystem assets with no hard dollar peg. Reported user losses ran into the hundreds of millions of dollars.
Ivanov dissolved the legal entities that had operated Vires and the Waves business during 2023, and disputes over the affected funds have continued publicly. Binance delisted WAVES spot pairs on 17 June 2024. Separately, in 2024 Ivanov launched Units Network, a distinct restaking based project that uses Waves validators and has its own token, which should not be confused with WAVES.
Waves runs on Leased Proof of Stake, where the chance of producing the next block is proportional to the balance a node controls. Holders lease WAVES to a node without transferring ownership, and leased coins remain fully under the lessor's control and can be canceled at any time, letting small holders participate in block production economics through an operator.
Throughput comes from Waves-NG, in which a block producer publishes a small key block and then continuously appends micro blocks every few seconds until the next producer takes over, so transactions confirm in seconds rather than waiting for a full block interval.
Smart contracts use Ride, a deliberately non Turing complete language with no loops and no gas metering, which is why Waves charges flat fees. Ride supports dApp accounts, which expose callable functions, and smart accounts, which attach spending conditions to an ordinary account. Token issuance is a protocol feature rather than a contract standard, so an issued asset is immediately transferable and tradable.
WAVES pays transaction fees, secures the network through leasing, and is the unit in which block rewards are paid. Fee sponsorship lets a dApp allow users to pay fees in another token while the dApp covers the WAVES cost.
Supply is the part most often misstated. Waves launched with 100 million tokens, but it is not capped at that figure. Block rewards have been minting new WAVES since the reward mechanism activated, so WAVES is an inflationary, uncapped asset today. The reward is set by miner voting and currently pays 60 WAVES per block, a figure anyone can confirm against the public node API, with voting over a 10,000 block window and the result locked for 50,000 blocks, roughly 35 days.
The split of that reward is the most revealing detail about post-crisis Waves. At the current level, the block generator, a Waves DAO address, and an XTN buyback address each receive a third. A fixed share of every block's issuance is therefore directed at buying back the index token that replaced the failed stablecoin, funded by protocol inflation.
Native token issuance means creating an asset is a transaction type, not a contract deployment, with no bytecode to audit for basic token behavior. Ride's refusal of Turing completeness eliminates gas metering entirely, so fees are flat and predictable. Leasing without transfer is a genuinely user friendly staking model, because coins never leave the holder's account, so there is no unbonding queue and no custody handoff. And Waves-NG delivers fast perceived confirmation without shortening the block interval, an approach that predates many later chains solving the same problem differently.
Against general purpose smart contract platforms, Waves trades expressive power for predictability, since you cannot write arbitrary computation in Ride. Against delegated proof of stake chains, leasing does not move coins to a validator, so the delegation risk profile differs from systems where staked funds are locked or bonded. Against chains with capped supply, Waves is explicitly inflationary through block rewards, with part of that inflation permanently routed to a DAO address and a buyback program.
The most important difference, though, is reputational rather than technical. Waves went through a public stablecoin failure and a lending market freeze, and its ecosystem, exchange support, and developer activity contracted substantially afterward. That context belongs in any comparison.
Security comes from Leased Proof of Stake. The probability of producing a block scales with the balance a node controls, including leased balances, and a minimum generating balance requirement filters out trivial participants. Consensus rules and protocol upgrades activate through node operator feature voting, which is publicly observable through the node API. Practical security therefore depends on how widely stake is distributed among independent operators, and on a smaller network that deserves more scrutiny than it would on a large one.
Waves matters as one of the earlier independent layer 1 chains to ship native token issuance, an integrated exchange, and a deliberately constrained contract language, and several of those ideas have aged well. It also matters as a case study, because the Neutrino episode is one of the most detailed public records of how an algorithmic stablecoin backed by its own network's token can unwind and how a chain's governance responds afterward.
WAVES trades on a reduced set of centralized exchanges following the 2024 Binance delisting, and on ecosystem decentralized exchanges such as WX Network and Puzzle Swap. A gateway version also exists as an ERC-20 on Ethereum. Check current listings directly with the exchange, since support for WAVES has changed more than once.
WAVES has commonly been available on:
Pairs are usually quoted against USDT. Confirm whether a venue supports native WAVES deposits or only the Ethereum gateway token before transferring.
After purchase, WAVES can be stored on an exchange, which is custodial, in Keeper Wallet, the official browser extension and mobile wallet, in community wallets such as WavesFX, behind a hardware wallet paired with compatible software, or leased to a node operator from a wallet you control, since leasing does not move the coins. Native Waves addresses and the Ethereum gateway token use different address formats, so verify the network on both sides of every transfer.
You can compare WAVES with related ecosystems on Coinrithm:
Track Waves live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Waves on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Waves with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Waves with real money.
Read the complete paper trading guideThe current price of Waves is $0.2628 with a 0.91% change in the last 24 hours.
The daily trading volume is $723,497 representing a 53.69% change in the past 24 hours.
The market capitalization of Waves is $26,281,475, ranking #466 globally.
The fully diluted valuation (FDV) of Waves is $26,281,475, calculated assuming the total supply of 100,000,000 WAVES is in circulation.
Circulating: 100,000,000. Total: 100,000,000. Max: N/A.
In the last 24 hours, Waves traded between a low of $0.2458 and a high of $0.2702.
WAVES/USDTTether USDT0.2628 USDT
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