Upbit Issues a Notice of Caution on Investing in TRX And WAVES

WavesWaves
$5.97
‑1.24%
coinquora.com2m ago
Upbit, one of the most trusted global digital asset exchanges, released a notice of caution. The caution notice from June 14 was specifically focused on the issue of the USDN and USDD pegging that is not faring well. As a result of this, there could be increased price fluctuations of WAVES and TRX.

Upbit, one of the most trusted global digital asset exchanges, released a notice of caution on June 14, that warned investors about investing in WAVES and Tron (TRX).

This comes after the exchange issued a notice of caution earlier in the year on investments in digital assets that are in any way related to algorithmic stablecoins. This was done primarily to “guide investment precautions for algorithmic stablecoins.”

The caution notice from June 14 was specifically focused on the issue of the USDN and USDD pegging that is not faring well. As a result of this, there could be increased price fluctuations of WAVES and TRX. The alert thus urges investors to be very careful about investing in both cryptos.

The exchange also reassured investors that they will keep an eye on these algorithmic stablecoins and make members aware of any increased price volatility.

WAVES is currently trading at $5.02 after a 2.88% drop in price over the last 24 hours. The crypto also saw a 37.40% drop in price over the last seven days.

According to CoinMarketCap, WAVES currently has a market cap of $544,818,039 and saw a 24-hour trading volume of $519,978,121.

While looking at TRX, it is currently worth $0.06127 after a 2.08% drop in price over the last 24 hours and after reaching a high of $0.06675 over the same time period. TRX also saw a 24-hour trading volume of $2,281,270,621, which is a 49.88% increase over the last day.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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