Venari Wavesmith exploded in value, once its usefulness got discovered. Its abillity covers the Weaknesses of Alric Magic rush combos while aggressively attacking the enemy. Clearly Wavesmith justifies its cost of 7-8$ with its versatility.

Lil' bit of info and stats:

Type: Water - Amazing Alric magic rush card and goes well with the Water Melee combo
Rarity: Rare
CP: 20
Archetype: Venari - Archetype with interesting lore

What do the Stats say about it?

Wavesmith upgrades its HP first, making the 5 mana cost even more justified. Down the line it chooses agillity, and surprisingly has its magic damage as the last upgrade. Obviously it tries to fill the supporting rule while dishing out some damage. On level 5 it trades 1 HP for the Dispel abillity.
"Yup that abillity is worth the trade" -Christislord.

Venari Wavesmith vs Mermaid Healer

Mermaid Healer costs 4-5x the amount Wavesmith does, and has Triage,Cleanse and Strengthen making it annoying for the enemy to deal with. However it lacks the abillity to stop physical attacks damaging the HP of a monster,which Wavesmith does well. In a combination of low HP monsters Wavesmith is the way to go, but going with a high HP loadout there is no doubt Mermaid Healer takes the cake.

Rulesets

Advantageous:

Earthquake- +2 armor it offers and the 3 Health allow it to endure the damage Earthquake does
Rise of the Commons - Very few Common and Rare cards can counter Wavesmiths effect

Disadvantageous:

Noxius Fumes - in lower levels it cannot handle the 2 damage done to it
Back to Basics - without the Protect Effect you just cannot provide the needed support

Other 30 something non mentioned Rulesets are somewhat advantageous and disadvantageous but depend on other factors.

The Venari Archetype

Rat-like people that lost a 30 year war against the Dream Warden, thus being banished from the Strite,and Underground place rich with Mana and their home. The Venari are proficient in the art of Smithing ,a complex science allowing for manipulation of magic. They fought valiantly but could not fight off the hordes of criminals that the Dream Warden sent at them. However their ingenuity allowed them to proseper on the surface worlds. They are in a good relationship with the goblins of Gobson, and lend their hand wherever their craft is useful and can be well compensated. They vow to help against the oncoming Chaos Leagion with every tool and skill they posses