It has been the hottest topic of recent weeks due to its decline and the stablecoin in its ecosystem losing its price peg to $1. from altcoins the one which… Waves (WAVES), He made a post about the question marks about him.
Waves Altcoin Developers, Targeted by Criticism, Posted Answers
As it is known, the founder of Waves decided to issue a new stablecoin to save his falling stablecoin and drew reaction.
Here are the developers’ responses to the claims:
“Q: USDN reserve fund decreased by 10 million WAVES, remaining 5 million WAVES. Does this mean that this withdrawal rate will continue and the Neutrino reserve will run out in two months?
A: No. Although reserves are declining, trend forecasts do not guarantee future results.
Cryptocurrency market is experiencing a major contraction and data supports this claim. For over a year, transaction volume has declined across the industry. In October 2022, volumes hit lows not seen since December 2020.
Many other market activity metrics are also declining. As a result, market participants flee to safety. Unfortunately WAVES feels the same uncertainty. Liquidity and volumes fell drastically.
This month is on its way to reaching the lowest level in the last 2 years. But trends of this magnitude are not permanent and liquidity will return to the crypto market over time. This has probably caused many investors to hastily withdraw their WAVES tokens from the Neutrino platform.”
Is Waves Team Manipulating USDN Price?
“Q: Current USDN sellers are just from the altcoin team and are selling millions of USDN per week, which will cause the USDN reserve fund to go to zero.
A: Wrong. USDN is still widely held.”
Is Waves Team Manipulating VIRES Price?
“Q: Is the main team manipulating the price of VIRES and giving 40% APY for 3 months USDN lock?
A: No. The virus continues as planned. Vires encourages investors to stake their tokens. 250 VIRES are released daily and distributed to stakers as transparently explained in the documentation.”
*Not investment advice.
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