Waves Blockchain Founder Calls for Exchanges to Delist WAVES Token Derivatives
• Sasha Ivanov, founder of decentralized blockchain Waves, asked crypto exchanges to deactivate futures markets tied to the WAVES token.
• The WAVES token has dropped significantly over the past two weeks and is now off nearly 98% from its all-time high.
• Ivanov has proposed a plan to stabilize USDN, the algorithmic stablecoin that is backed by the WAVES token.
Sasha Ivanov, the founder of decentralized blockchain Waves, has recently called for crypto exchanges to deactivate futures markets tied to the WAVES token. This comes after the token has dropped significantly over the past two weeks, now trading at a price off nearly 98% from its all-time high.
The WAVES token, a cryptocurrency used to facilitate transactions on the Waves blockchain, has been on a sharp decline in recent weeks, with prices dropping more than 40% over the past two weeks. This sudden plunge has been attributed to the volatility of USDN, an algorithmic stablecoin that is designed to be pegged 1:1 with the U.S. dollar. The USDN is backed by the WAVES token, and has de-pegged on multiple occasions this year, leading to a decrease in the token’s value.
In an effort to stabilize the USDN, Ivanov has proposed a plan to do so and also issued a warning to all crypto exchanges to disable the Waves futures markets. According to Ivanov, these futures markets are a “breeding ground for FUD and making money off short positions”. In addition, South Korea’s Digital Asset Exchange Association, which includes Bithumb, Upbit, Coinone, Korbit and Gopax, issued an “investment warning” regarding the token.
The Waves platform was created by Ivanov in 2016 with the goal of providing users with a secure and intuitive blockchain platform to store, transfer and trade digital assets. The platform is also designed to facilitate the creation and launch of Initial Coin Offerings (ICOs). Since its launch, the Waves platform has become one of the most popular and successful blockchain projects, and its native token, the WAVES token, has seen a surge in popularity over the past few years.
Despite the recent slump of the WAVES token, Ivanov remains confident that the token will eventually recover and stabilize. He is currently focused on implementing his plan to stabilize the USDN, and he is confident that the token will eventually recover and stabilize. In the meantime, Ivanov and the Waves team are continuing to build out their platform and look for opportunities to expand and improve their services.