• February 27, 2024

Satoshihodler.com

All the latest cryptocurrency news

Crypto Exchange Upbit Warns Against Risks Associated with Algostablecoins USDN and USDD

Reading time: < 1 minute

South Korean exchange Upbit has warned against the risks of price fluctuations for the WAVES and TRON (TRX) cryptocurrencies due to the loss of Neutrino USD (USDN) and USDD algorithmic stablecoins to the dollar.

According to the statement:

“Currently, there are concerns that the USDN and USDD peg is not working very well. As a result, the likelihood of price fluctuations in WAVES and TRON (TRX) associated with each of the above stablecoins may increase, so be careful when investing.”

USDN currently trades at $0.96, while USDD is around $0.98.

Amid the collapse of Terra’s UST, the exchange drew the attention of users in May to the cryptocurrencies traded on the platform, which are involved in maintaining the price of some algorithmic stablecoins. In addition to the above assets, the list includes: NEAR-USN, KAVA-USDX and HIVE-HBD.