Stablecoin USDN lost its peg to the dollar

Algorithmic stabelcoin Neutrino USD fell in price by 10 cents
Stablecoin USDN lost its peg to the dollar

Stablecoin Neutrino USD (USDN) lost its peg to the US dollar. The USDN token fell 10% against the dollar, reaching a value of $0.9. The market capitalization of this token is $621 million, with a daily trading volume of $5.7 million.

Neutrino Protocol is a platform for the development of stabcoins in the Waves network. Neutrino USD is an algometric stablecoin tied to USD and secured by a WAVES token. The value of WAVES also fell by 3.5% over the day and is $4.96.

The detachment of the stabelcoin from the dollar takes place against the background of the system update, which was released on August 24. This is a publication from c​ompany cryptodefix. Changes were made to the system, which were voted by its users. According to Neutrino developers, the updates were necessary to stabilize the protocol and ensure security.

More interesting


The value of transactions in the Bitcoin network exceeded $100 trillion
Nike was the best-selling brand in the NFT
Solana concluded that the hack was related to the Slope project