The token of the decentralized application (DApp) creation platform Waves (WAVES) is plummeting after the algorithmic stablecoin backing it failed to maintain its peg to the US dollar. From opening at $2.38 on December 1st, Waves is now trading for $1.75, a nearly 27% decrease. The low-cap Ethereum (ETH) rival is seeing massive losses after The post Ethereum Rival Plummets in Price After Stablecoin Built on Its Chain Loses Peg to US Dollar appeared first on The Daily Hodl .
