USDN loses peg again as Neutrino upgrade to “stabilize protocol” goes live

Neutrino $USDN lost its peg for the first time since June 16 as it was updated to implement upgrades to the protocol. The post USDN loses peg again as Neutrino upgrade to “stabilize protocol” goes live appeared first on CryptoSlate.

Timeline of Neutrino-usd

CryptoSlate's Akiba spoke with Waves founder Sasha Ivanov to talk about USDN, Waves, Terra contagion, and algorithmic stablecoins in general.sa Watch this exclusive interview to hear Sasha's view on the state of web3 and what it felt like to take on $500M in debt to attempt to save his creation. The post Behind Waves USDN depeg and how Sasha Ivanov worked to restore the peg by taking on $500M in debt appeared first on CryptoSlate.

Waves, an issuer of another algorithmic stablecoin Neutrino USD (USDN) has distributed a plan to reanimate its troubled stablecoin. USDN lost its “peg” back in April tanking to around $0.66 and while it has bounced back a bit – now around $0.97 – USDN has.

Neutrino USD (USDN), an algorithm stablecoin just like the TerraUSD, has fallen below its US dollar peg to trade as low as $0.8 today. The stablecoin is part of Waves blockchain ecosystem. Following the de-pegging, Colin Wu, a crypto analyst, has reported that the Curve pool for the USDN stablecoin (the USDN-3 pool) is now The post Waves' Neutrino USD (USDN) stablecoin de-pegs to $0.94 appeared first on Invezz.

As Bitcoin crashed below the $32k support level, panic took hold of the market and alt coins began to violently plunge as well. This time, even the stablecoins were not spared as TerraUSD [UST] dropped as low as $0.6879, and was trading at $0.9006 at press time.