The Waves stablecoin neutrino usd USDN has not been able to rise above the $0.97 per unit range for 14 days.
Stablecoin USDN Trades Below $1 Parity for 14 Days in a Row, Token Taps $0.91 Low This Week
Approximately 14 days ago, the stablecoin neutrino usd tapped a high of $0.994 per unit, and ever since then, USDN has not been able to rise above the $0.97 per unit range. The dollar-pegged asset is associated with the Waves blockchain protocol, and recently the Neutrino Protocol decided to add a token called SURF to USDN’s reserve basket in order to “improve the mechanics of recapitalizing USDN reserves.
Waves Stablecoin USDN Falters, Team Adds SURF to Improve Algorithmic Stablecoin’s Reserve Mechanics, Waves Founder Dismisses Criticstapped a low of $0.94 per unit on September 5, 2022. Coingecko.com statistics indicate neutrino usd dropped even lower the day before, slipping to $0.918 per coin. 30-day metrics show USDN dropped to $0.905 on August 26. It’s not the first time USDN has deviated away from the $1 parity.
Prior to August 26, on July 14, USDN’s price dropped to $0.938 per token and on May 11, USDN slipped to $0.824 per coin. On April 4, neutrino usd dropped even lower than the losses recorded on May 11, as USDN dropped to $0.787 per coin that day. In more recent times, the Neutrino Protocol added a token called to USDN’s basket of reserves. There are now four different tokens leveraged for USDN reserves as SURF joins the USDN stablecoin, NSBT, and WAVES.
Neutrino Protocol calls itself “an algorithmic price-stable assetization protocol acting as an accessible defi toolkit.” The team
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