- Sasha Ivanov, the founder of Waves, lays out a plan to revive USDN.
- Ivanov also announced the launch of a new stablecoin.
- USDN lost its peg and is currently trading at $ 0.5374.
Sasha Ivanov, the founder of waves, has unveiled his plans to revive the depegged Neutrino Dollar (USDN). In one of his recent tweets, he also mentioned that he’ll be launching a new stablecoin. However, he also asserted that until there is a resolution for the USDN, no announcements or launches will be made.
Capo of Crypto, a cryptocurrency investor, and trader, responded to the tweet by predicting that Waves will be the next LUNA. He also shared a chart highlighting the similarity in patterns between the patterns of Waves and those of Luna. The cryptocurrency trader also added that it could dump 70 to 99% from here. However, Ivanov was quick enough to reply to his tweet, stating that there is zero similarity.
Ivanov’s tweet doesn’t provide an estimated timeline regarding the plans. However, he asserted to Twitter users that the new stablecoin will be undepeggable. At press time, the USD has been depegged and is trading at $0.5294. CoinMarketCap has also flagged caution for the neutrino USD.
South Korea’s digital asset exchange association labeled Waves as an investment warning last week. Following the announcement, the stablecoin fell to 53 US cents earlier on Tuesday, according to the data from CoinMarketCap.
Back in August, the USDN lost its peg and fell to $0.9241. That was a time when the market was still feeling the ripple effect of the fall of TerraUST. Stablecoins that were meant to be stable began showing signs of instability. Ivanov is likely to release more details regarding the plan as time progresses.