I bought waves a while back. I always thought waves would be big and people say it would beat ETH. Well besides the price going up a lot when every other coin went sky high a while ago, this coin has shown no progress at all. The price has done nothing but drop down or when other altcoins go up, it barely goes up much. Also most ppl definitely bought waves at higher than the current price.
What confuses me is how is this possible when there are so many updates and things going with waves? Shouldn't the price at least go up a bit?
To some extent, yes.
They are quite popular among the crypocurrencies, but they have near zero use in real life. Most of the tokens on waves platform are scam or useless.
One of the reason for their popularity may be due to it's attempt to copy what's Ethereum was doing. There were very less such project when waves started but soon many advance projects came to rival with Ethereum that made waves obsolete.