Neutrino, Vires Finance and Waves bag 100%+ gain after pivot toward interoperability
Ongoing developments on the global stage continue to cause havoc in traditional markets and in the cryptocurrency sector.
Despite these headwinds, projects in the Waves ecosystem have managed to climb higher in both price and total value locked (TVL) as a renewed focus on interoperability with popular blockchain networks brought fresh momentum.
Here’s a closer look at the top-performing assets in the Waves ecosystem that have managed to post positive gains despite negative macroeconomic factors that are pressuring cryptocurrencies.
Neutrino is an algorithmic price-stable "assetization protocol" that creates stablecoins tied to real-world assets and cryptocurrencies.
Neutrino USD (USDN) is the main stablecoin of the Waves ecosystem and it goes along with the Neutrino Token (NSBT), a recapitalization and governance token that also enables the creation of stablecoins.
Data from Cointelegraph Markets Pro and CoinGecko shows that since hitting a low of $7.07 on Jan. 22, the price of NSBT has rocketed 300% to hit a daily high of $30.33 on March 9.
While NSBT price was climbing, the TVL on the protocol also surged from $379.77 million on Feb. 22 to its current value of $1.15 billion according to data from Defi Llama.
Vires Finance (VIRES) is a decentralized, non-custodial liquidity protocol on the Waves blockchain that uses common pool-based mechanics to create equally distributed interest.
According to data from CoinGecko, activity for VIRES began to pick up on Jan. 18 when its price hit a low of $19.30 and proceeded to surge 460% to hit an all-time of $108.44 on Jan. 24 and has since entered a consolidation period with its price currently trading near the $85 mark.
The total value locked on the VIRES protocol has increased from
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