Crypto WAVES Founder Proposes Crypto Exchange Remove Futures Trading, This Is The Reason!

JAKARTA - The founder of the crypto token Waves (WAVES), Sasha Ivanov, is reportedly urging a centralized exchange (CEX) to remove futures trading (futures) for WAVES tokens. Ivanov assessed that the token does not require futures trading.

He emphasized that this type of trade is a FUD breeding ground (fear, uncertain, doublet) and quickly makes money from a short position. He wrote the request in his Twitter post.

I respectfully request all #cexes to disable the futures market Waves.@binance @kucoincom @krakenfx @HuobiGlobal @okx @Bybit_Official," wrote Sasha Ivanov (@s SHA35625) December 21, 2022

Ivanov uploaded the post shortly after the decline in the price of the WAVES token in the last two weeks by 40 percent according to Coingecko data. Meanwhile, the South Korea Digital Asset Exchange Association (DAXA) called the WAVES token a unstable token. This is claimed to be the cause of CEX stopping deposits for the token.

Reported by DailyHodl, Waves Labs claims that the actions taken by CEXs " signal to the market that the WAVES token is risky," whereas in fact nothing has changed. Waves Labs' statement claims that deposits shared with the FUD surrounding tokens have triggered optimal sales (shorts).

NO ONE needs a futures market, wrote Sasha Ivanov in a Twitter post on December 21, 2022

Commenting on the statement, the crypto exchange community hopes that crypto exchanges will stop trading in the futures. Then, Ethereum must also be removed from all market futures. However, it was only a joke from the community in imitating Sasha Ivanov's statement.

The Waves ecosystem previously released an algorithmic strablecoin called the Neutrino Dollar (USDN). USDN is detached from its dollar stakes and has been previously depreciated and is now trading at USD 0.503 on a press release.

The release of the USDC stablecoin value from its dollar benchmark occurred after DAXA released a statement that had a negative impact on WAVES' main token. Responding to these conditions, Ivanov plans to launch a new stablecoin that is claimed to be inseparable from its stakes after the Waves ecosystem is shaken. Even so, Ivanov has not detailed in detail about its new stablecoin.

At the time of writing, Coingecko's data explained that the WAVES token is trading at IDR 26,734 per token. WAVES has increased 11.7 percent in the last 24 hours.