The cryptocurrency fell within minutes after DAXA, the advisory body of South Korea’s leading cryptocurrency exchanges, marked Waves (WAVES) as an “investment alert”.
The rooted altcoin of the cryptocurrency market WAVESfeaturing South Korea’s 4 leading cryptocurrency exchanges Digital Asset Exchange Association (DAXA) by “investment alertmarked as ‘. Waves’ stablecoin is the reason for the investment warning. of USDN dollar loses its stability shown. USDNFirstly in early November the dollar loses its stability Dropped from $1 to $0.90.
After the news WAVES price in minutes lost more than 15% and $1.96decreased to . CoinGecko According to the data, at the time the news was written $2.04traded from.
Upbit Freezes WAVES Transactions
South Korea’s largest cryptocurrency exchange Upbit after the announcement WAVES suspended its operations. In the statement made by Upbit, it has not been decided whether the transactions will be terminated completely. to be decided within two weeks specified. Affected trading pairs WAVES/KRW, WAVES/BTC announced as.
Upbit made the following statements in the statement:
Upbit watches the price trend of USDN and considers the risk of unexpected investor loss due to WAVES value volatility. Waves has been designated as a warning clause by the Digital Asset Exchange Joint Advisory Body (DAXA). In order to protect investors, DAXA may jointly take measures such as investment warning/precaution, determination of injunction/warning clauses and termination of transaction support.
Upbit also announced that the 2-week review period may be extended and in such a case, notification will be made on the official websites.