7 Best Waves Alternatives in 2026
Last updated: 9/19/2026 · 🔗 Layer 1 · 7 alternatives
Waves (WAVES) is one of the most well-known Layer 1 cryptocurrencies with a current Value Score of 77/100. But is Waves the best choice in its segment? We identified 7 alternatives operating in the same Layer 1 space — ranked by our fundamental Value Score, which combines 10 market, supply and developer metrics. Each alternative is compared against the original so you can decide with full data.
Not Financial Advice
This page is an informational analysis, not investment advice. The CryptoValue Score is an algorithmically generated rating from public data — it does not replace professional advice. Cryptocurrencies are highly volatile; total loss is possible. Read full risk disclaimer →
How we pick alternatives
How we pick alternatives: (1) Same category as Waves — functionally comparable projects (Layer-1 vs Layer-1, DeFi vs DeFi, etc.). (2) Sorted by Value Score descending — coins with stronger fundamentals are prioritized. (3) Market cap is shown for context: smaller caps have higher percentage upside, larger caps offer more liquidity and established adoption.
Zilliqa (ZIL)
Rank #411 · $50.80M · $0.002602
Why an alternative: Comparable rating (79 vs 77) — solid diversification alternative within the same use case.
Harmony (ONE)
Rank #831 · $18.18M · $0.001223
Why an alternative: Comparable rating (78 vs 77) — solid diversification alternative within the same use case.
Mina Protocol (MINA)
Rank #402 · $52.95M · $0.040926
Why an alternative: Comparable rating (77 vs 77) — solid diversification alternative within the same use case.
MultiversX (EGLD)
Rank #285 · $86.09M · $2.82
Why an alternative: Larger, more established position (market cap $86.09M) — lower idiosyncratic risk, more liquidity.
Internet Computer (ICP)
Rank #61 · $1.17B · $2.10
Why an alternative: Larger, more established position (market cap $1.17B) — lower idiosyncratic risk, more liquidity.
Polkadot (DOT)
Rank #52 · $1.45B · $0.851868
Why an alternative: Larger, more established position (market cap $1.45B) — lower idiosyncratic risk, more liquidity.
Injective (INJ)
Rank #102 · $494.84M · $4.95
Why an alternative: Larger, more established position (market cap $494.84M) — lower idiosyncratic risk, more liquidity.
Side-by-Side Comparison
| Coin | Score | Market Cap | Price | 30d |
|---|---|---|---|---|
| Waves(WAVES) · original | 77 | $26.71M | $0.267114 | +34.30% |
| Zilliqa(ZIL) | 79(+3) | $50.80M | $0.002602 | -16.30% |
| Harmony(ONE) | 78(+2) | $18.18M | $0.001223 | -4.90% |
| Mina Protocol(MINA) | 77(+0) | $52.95M | $0.040926 | -20.40% |
| MultiversX(EGLD) | 77 | $86.09M | $2.82 | -0.30% |
| Internet Computer(ICP) | 76(-0) | $1.17B | $2.10 | -5.40% |
| Polkadot(DOT) | 76(-0) | $1.45B | $0.851868 | -3.10% |
| Injective(INJ) | 76(-1) | $494.84M | $4.95 | +1.60% |
Bottom Line
Waves remains a strong choice in its segment by fundamental metrics. The alternatives on this list aren't direct "better" options — they're diversification candidates with different risk-reward profiles. For a balanced position, mix 2-4 coins from the same segment rather than going all-in on a single one.
Waves in Market Context
Market Position
Waves (WAVES) ranks #738 outside the top 100 — higher upside potential paired with significantly elevated liquidity and delisting risk, with a current market cap of $26.71 M. As a Layer-1 blockchain, Waves competes with other base-layer networks for developer adoption, liquidity, and institutional capital.
Recent Price Action
At $0.2671 (only 0% of the ATH of $61.30), Waves is in a deep correction — drawdowns of this magnitude have historically offered attractive re-entry zones depending on fundamentals. Over the last 7 days, Waves has moved sideways at +3.0%; over 30 days it has rallied a strong +34.3%.
Valuation Signals
A Value Score of 76.5/100 places Waves in the "Undervalued" zone, indicating a discount versus realized market cap and network activity. MVRV at 95/100 suggests a favorable valuation relative to realized cap. Low dev activity (score 0/100) is a cluster risk — project stagnation elevates long-term delisting risk. The NVT ratio (75/100) shows healthy network activity relative to market cap.
Risk Profile
Layer-1-specific risks: network adoption must scale or valuation stagnates. Validator concentration and consensus security are primary technical risks. Strong tokenomics (85/100): bounded emission, decentralized distribution, and no activation cliffs on the horizon. High 30-day volatility (+34.3%) elevates short-term risk — adjust position sizing accordingly. Outside the top 100, exchange liquidity is thin and slippage on larger trades is non-trivial.
Frequently Asked Questions
What is the best alternative to Waves?
Based on our Value Score, Zilliqa (ZIL, score 79/100) is currently the highest-rated alternative in the Layer 1 segment. "Best" depends on your requirements though — liquidity, smart contract functionality, energy efficiency, etc.
Why should I consider alternatives to Waves?
Three main reasons: (1) Diversification — concentration risk in a single crypto is dangerous. (2) Higher upside potential — smaller coins in the same segment can rise more in percentage terms if fundamentals are solid. (3) Different trade-offs — e.g. higher transaction speed, lower fees, or better decentralization. Caveat: smaller coins also carry more risk and lower liquidity.
Are these alternatives better than Waves?
"Better" is subjective. The list is sorted by Value Score — coins with stronger fundamentals at the top. But the score doesn't capture everything: network effects, brand recognition, regulatory clarity, and adoption speed are additional factors. Use the list as a starting point for deeper research, not as a final buy decision.
How were these alternatives selected?
We filter all coins in our database (1000+ coins) by the same category as Waves (Layer 1), exclude Waves itself, and sort by Value Score descending. The top 7 are listed here. The list auto-updates as scores change (hourly).