Neutrino Dollar breaks peg, falls to $0.82 amid WAVES price 'manipulation' ac...
Waves founder Sasha Ivanov says Alameda Research is behind the ongoing WAVES price decline. Neutrino Dollar (USDN), a stablecoin issued through Waves-backed Neutrino protocol, lost its U.S. dollar-peg on April 4 amid speculations that it could become "insolvent" in the future.USDN plunges 15% despite WAVES backingUSDN dropped to as low as $0.822 on April 4 with its market capitalization also diving to $824.25 million, down 14% from its year-to-date high of $960.25 million.Interestingly, the stablecoin's plunge occurred despite Neutrino's claims of backing its $1-peg via what's called "over....
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Algorithmic stablecoin USDN fell to $0.90 marking the fourth time that it failed to defend its dollar peg in 2022. As the crypto community tries to navigate the bear market and recover from the onslaught brought about by stablecoin incidents like the Terra crash, another algorithmic stablecoin shows signs of struggle as it falls below its dollar peg. Algorithmic stablecoin Neutrino Dollar (USDN) has deviated from the dollar once again, marking the fourth time that USDN struggled to maintain its dollar peg this year. The Waves-backed stablecoin is trading at $0.90 at the time of writing.....
Neutrino was buying the WAVES dip as the price rebounds to the best level in over four months. Waves (WAVES) continued its price rally further into this week, even as its top crypto rivals wobbled between losses and gains elsewhere in the market.A 230% Waves boomThe WAVES/USD trading pair surged by nearly 75% this week to reach around $31, its best level since Oct. 28, 2021. Its rally came as a part of an upside retracement move that saw it rising by a little over 230% in three weeks.WAVES/USD weekly price chart. Source: TradingViewIn contrast, Waves' top rival in the smart contracts....
Crypto traders can earn passive income through Neutrino stablecoin staking. U.S.-based cryptocurrency exchange Waves.Exchange, which supports the price-stable multi-asset Neutrino protocol, is introducing a way for crypto traders to earn passive income through stablecoin staking.According to a Sept. 29 announcement from Waves, the exchange has expanded its tokenized assets ecosystem to include seven different Neutrino stablecoins — synthetic versions of national currencies — through a decentralized foreign exchange market, or 'DeFo'. Holders of the Neutrino US dollar (USDN), euro (EURN),....
The Waves-backed project will share a portion of protocol fees with NSBT holders. The Neutrino Protocol, a project building algorithmic cross-platform stablecoins, announced Tuesday the launch of staking rewards for its governance and utility token, the Neutrino System Base Token (NSBT).Neutrino uses an innovative mix of collateral backing and algorithmic supply changes to create a wide range of fiat-pegged stablecoins. Its flagship stablecoin, USDN, and NSBT are available on Ethereum as ERC-20 tokens. The USDN generation mechanism relies on WAVES, the native token of the Waves platform.....
NSBT, WAVES and VIRES have been on a tear since the project developers revealed plans to migrate to Waves 2.0 to increase interoperability with major blockchains in the sector. Ongoing developments on the global stage continue to cause havoc in traditional markets and in the cryptocurrency sector.Despite these headwinds, projects in the Waves ecosystem have managed to climb higher in both price and total value locked (TVL) as a renewed focus on interoperability with popular blockchain networks brought fresh momentum. Total value locked on the top 3 Waves protocols. Source: Defi LlamaHere’s....