Cryptocurrencies
Algorithmic Stablecoin Neutrino Loses Peg as Token Slumps
- Waves token backing the stablecoin dropped more than 26%
- USDN was trading at about $0.796, according to CoinGecko
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An algorithmic stablecoin known as Neutrino that is associated with the Waves blockchain lost its peg to the dollar after the price of the underlying token tumbled.
Waves, the token backing Neutrino USD, or USDN, dropped by more than 26% in the past 24 hours. USDN was trading at about $0.796, according to CoinGecko.