Why the WAVES Token Is Sinking Today

The WAVES (CRYPTO: WAVES) token is giving back its recent gains today. The token at the heart of the Waves decentralized application platform was down 18.7% lower in 24 hours as of 1 p.m. ET. A different cryptocurrency in the Waves ecosystem is struggling these days, which raises questions about the whole Waves system and the viability of the WAVES token.

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The Neutrino USD (CRYPTO: USDN) stablecoin is supposed to provide a platform for exchanging value between real-world U.S. dollars and digital tokens in the Waves system. As the name suggests, this particular version of Neutrino is expected to be worth approximately $1.00 at all times, stabilizing its value through automated transactions and staking of the central WAVES token.

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Source Fool.com