South Korea-based exchange Upbit has cautioned its users against investing in WAVES due to its high volatility resulting from the USDN depegging.

USDN is an algorithmic stablecoin backed 1:1 by WAVES. However, since USDN lost its peg below $0.8 on April 5th, it has failed to regain its peg, which has increased the price fluctuations of WAVES.

According to CryptoSlate data, USDN is currently trading below peg at $0.8 while WAVES has fallen about 12% in the last 24 hours.

(by Christian Nwobodo)