Neutrino USD Price Prediction for 2022-2026

Overview of Neutrino USD

Neutrino USD (USDN) is a protocol for developing algorithmic stable coins. According to the developers, “it is an algorithmic price-stable assetization protocol acting as an accessible DeFi toolkit built on Waves.” Neutrino USD (USDN) is used to create stable coins pegged with real-world assets or cryptocurrency, and it can act as a deflationary mechanism for DeFi oriented blockchain platforms. The smart contracts and decentralized applications of Neutrino USD are written in a developer-friendly programming language called RIDE and deployed to the Waves blockchain. On top of that, Waves blockchain uses the Leased Proof of Stake (LPoS) consensus algorithm.

Trade Neutrino Now

The beta release of Neutrino USD (USDN) was held in 2019, and it was developed by Ventuary Lab, a pioneer of WAVE platform projects. Furthermore, the project’s primary aim is to reduce volatility and create economic stability. Soon after three months of the beta release, Neutrino USD became an actively used decentralized application on Waves Blockchain. A total of 5 million Neutrino USD have been locked in the smart contract, and the trading volume in exchanges has already exceeded this value. Operations of the Neutrino USD protocol are accessible with the Waves Exchange interface.

The major stable coins of the Neutrino USD protocol include Neutrino USD (USDN), which serves as collateral to other Neutrino USD assets, Waves, and NSBT. Waves token is used to pay the transaction fee of the Waves blockchain. The governance and recapitalization of the Neutrino USD protocol were realized with the help of the NSBT coin. NSBT tokens are generated via smart contracts. Along with that, the calculation of the market price of Neutrino USD tokens is determined by demand and supply. Coins are pegged to fiat currencies in a 1 to 1 ratio. There are 10 stable coins introduced as of now. USDN pegged to dollars, EURN to Euro, CNYN to Chinese Yuan, JPYN to Japanese Yen, RUBN to Russian Ruble, UAHN to Ukrainian hryvnia, NGNN to Nigerian naira, BRLN to Brazilian real, GBPN to the British pound, and lastly TRYN to the Turkish Lira.

Trade Neutrino Now

Traders can swap between stable coins to fiat currencies with DeFo (Decentralized forex), an extension built on the top of the Neutrino USD protocol. In simple words, DeFo is an open-source solution that can be integrated into any other interface. To summarise, DeFo is providing a bridge between fiat and crypto. Hence users can swap stable price assets tied to indices, commodities, and national currencies.

The Neutrino USD ecosystem consists of the following participants. Users with a WAVE account, Price oracle, a predefined set of accounts for market price feed from different sources to the blockchain, pacemaker oracle, WAVES Full node, and emergency oracle.

What is Neutrino USD (USDN) Token?

Neutrino USD (USDN) is the main stable coin of the Neutrino USD protocol pegged to US Dollars backed by Waves token. USDN governs issuance, staking, and rewards of Neutrino USD protocol. All the transactions and payment services involving USDN are transparent and are controlled by smart contracts. Other than WAVES, Blockchain USDN is available with BSC and Ethereum ecosystems.

One trillion USDNs were issued and locked in the smart contract, and neither the development team nor the users have access to the locked assets. So USDN can be acquired only via swapping WAVES tokens for USDN through the smart contracts. Swapping is done at the current market rate, and there is a 2% fee for each Swap operation.

Users can obtain USDN via smart contracts and log on to the Neutrino USD website through Waves Exchange. NSBT ensures the sustainability of USDN through trading, issuing, and liquidation mechanics. Users can stake USDN in Kucoin, Waves Exchange, and Hot bit. Staking reward will be calculated based on total supply and variations in Waves market capitalization.

Neutrino USD (USDN) Technical Analysis

Let’s look at the latest news of the global cryptocurrency market for the past 24 hours on December 20, 2021. The total trading volume for the last 24 hours is around $99,773,410,885. Stable coins account for $91.40 billion. Market cap reaches $2,248,289,855,429. Data shows Bitcoin, Cardano, Ethereum have surged for the day. Major cryptocurrency exchanges are expecting consolidation amid concerns of regulation from authorities in the near future.

Neutrino USD price today is $0.9103 with 24h vol $9,479,973. The total Neutrino USD market cap is $918,451,966.19, with a circulating supply of 1,006,057,919 USDN. Data from various exchanges and sites show an all-time high of $1.20, which is on February 08, 2020. The highest price of a coin may vary from exchange to exchange. The all-time low is $0.7343, which is on February 09, 2020.

Trade Neutrino Now

The chart of Neutrino USD (USDN) is interesting. Irrespective of the volatility of the crypto market, the price of Neutrino USD (USDN) is hanging between $0.6595 and $1.34, meaning the coin’s volatility is comparatively low. This is an image of the Neutrino USD price movement from the Bittrex exchange. The coin has shown a hike in a candle on March 25, 2021, which did not happen on other exchanges. After June 9, 2021, the volume of Neutrino USD has brutally fallen, and no volume hike has been visible after that. So the Neutrino USD price volume trend showed a two-level graph.

On the daily chart of USDN, Bollinger bands have not opened up. Prices are moving along the middle line, which means the average price of Neutrino USD (USDN) over a long period is the same, and it has not shown any remarkable price increase for an extended period. ADX is 18.42 and bearish, USDN is floating on mixed momentum.

On November 6, 2021, the shadow of a bearish daily candle had touched the lowest price of $5.05. But the Neutrino USD closing price on the same day was at $0.8519, which still acts as the major support level; below this price, investors can sell Neutrino USD. Most of the daily candles are Doji which means the opening price and closing prices of Neutrino USD (USDN) are almost the same.

After looking at the major resistance and support levels, immediate support is placed at $0.960, and any fall below can take USDN to $0.860. On the upper side, the coin is unable to break the resistance of $1.04, which has been tested many times, above which $1.07 is placed. USDN has to cross this resistance for any further up move.

Trade Neutrino Now

Analyzing major technical indicators on the chart, MACD is about to cross the signal line but does not show any power. RSI is placed at 25.76, which is neutral. Considering the EMA, Neutrino USD (USDN) is trading within the range of 20 EMA, 50 EMA, 200 EMA. Since the Neutrino USD price change is less, the difference between EMAs is also less.

Summarizing the technical analysis of Neutrino USD, investing may not be a good idea at the current price because there is no sign of a short-term price rise. Aggressive traders can purchase at the lower level of a day and book some profit on slight price increases. But an upward price action cannot be expected soon since the sentiments are neutral.

Neutrino USD Price Forecast 2022-2026

Historical data shows that those who invested in Neutrino USD (USDN) may not have been happy last year because Neutrino USD (USDN) gave negative returns for their portfolio. Over the previous three months, USDN has given relatively fewer returns, and the same is true for the current week. The Neutrino USD price today is $0.9103, and the price change in the last 24 hours is -7.08%. In comparison with other investment options such as stocks or commodities, it is difficult to predict the exact movements of any cryptocurrency. Still, let’s find more information about the long-term forecasts and data of Neutrino USD.