Waves Founder Plans New Stablecoin Amid USDN Depegging

Waves founder Sasha Ivanov said he intends to issue another stablecoin, upon announcing plans to stabilize Neutrino USD (USDN). The post Waves Founder Plans New Stablecoin Amid USDN Depegging appeared first on BeInCrypto.

Timeline of Neutrino-usd, Waves

The token of the decentralized application (DApp) creation platform Waves (WAVES) is plummeting after the algorithmic stablecoin backing it failed to maintain its peg to the US dollar. From opening at $2.38 on December 1st, Waves is now trading for $1.75, a nearly 27% decrease.

USDN Depegs Updates:  As the global digital asset market continues to decline after the horrible collapse of FTX, stablecoins are now feeling the heat. Data depicts that Algorithmic stablecoins like TRON's USDD and Waves' Neutrino USD (USDN) are de-pegging massively.

South Korea-based exchange Upbit has cautioned its users against investing in WAVES due to its high volatility resulting from the USDN depegging. The post Waves down 12% as Upbit issues investment warning appeared first on CryptoSlate.

Today's Waves price analysis shows that the market is bearish today after rolling over from the resistance at $3.57. The market has been on a downtrend for some time now, and it looks like this trend could continue in the near term.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion. Waves [WAVES] formed a break in market structure and took a turn toward the bullish side over the past week as the bulls managed to drive prices past a crucial resistance.

The most recent Waves price analysis shows a bearish trend for the cryptocurrency as the bears have been at the winning edge for the last 24 hours. Although a strong bullish wave was controlling the price trend in the previous week, today's trend proved relatively in support of the sellers.

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.

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.

As anyone interested in the cryptocurrency market has heard, the coin markets have been experiencing depreciation and contraction for a while. This issue, which is covered every day in the cryptocurrency news, causes new buyers to be involved in the market to worry.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. A week ago, Waves saw a near 50% surge from the $4.5 lows to reach $7.15.