Are waves capable of breaking out to the yearly value area?
It would need to surpass 6.31 first. Waves is a platform for building unique tokens, a smart contract solution, and a specialized decentralized exchange called Waves DEX. In my opinion, it has a high asset value. The value area for the year is 14.87$, and the maximum value area for the year is $24.30. From where we are now, the return on investment (ROI) to the value region for the year return to value pricing is 147%; at the level of $24.30, it is 300%. This is quite the predicament and it’s very interesting how the developments will turn out in the future for this crypto.
The Waves smart contract blockchain’s founder and CEO stated that regulation is necessary for the cryptocurrency sector to address issues with market manipulation and to safeguard customers from dishonest operators. Ivanov also discussed the “six whale accounts” that had large loan positions they were unable to repay in an interview with Be[In]Crypto, putting the USDN’s dollar peg at peril, and how he intervened with $500 million of his own funds to save the day. However, the stablecoin has continued to be unstable, dropping to roughly $0.90 on August 28. An algorithmic stablecoin that is a part of the Waves ecosystem is called the neutrino dollar, or USDN.
Another algorithmic stablecoin is struggling as it deviates from its dollar peg as the crypto community struggles to navigate the bear market and recover from the onslaught brought on by stablecoin incidents like the Terra crash. This was a very big fail that affected the crypto community in a variety of ways.
Neutrino Dollar (USDN), backed by Waves
The algorithmic stablecoin Neutrino Dollar (USDN), which is backed by Waves, lost its peg and diverged from the dollar for the fourth time in roughly the previous six months. The USDN has slightly rebounded after dropping as low as $0.9068 in the previous 24 hours, but as of August 30, 2022, it is still trading below the peg at $0.9628. It declined once more in June, trading at about $0.93 per token, after dropping to $0.82 in May.
Neutrino asked the community for approval to implement four changes to its protocol parameters as a result of this price volatility. These modifications, along with the outcome of the vote, are as follows:
- Max Swap Amount Change (Yes – 97.15%)
- Protocol fee increase for swaps between USDN and WAVES (No – 67.47%)
- (Yes – 95%) Add BR protection.
- Increase the distribution of NSBT awards (Yes – 94.84%)
Following the outcome of the voting, Neutrino ” introduced new mechanisms three days later to enhance the protocol’s economics. Changes to the maximum swap amount, mechanisms for backing ratio protection, and improved incentives distribution are also part of this.
Despite our best efforts, market manipulation in the cryptocurrency field is a sign of the times. People with enormous bankrolls and superior intelligence can make money off of retail traders. Regulation is our answer, and it will soon be implemented. We have been developing our own solutions in the interim. Such as the imminent launch of PowerDAO to assist us in managing our own ecosystem.