Waves (WAVES) founder Sasha Ivanov pleads All centralized exchanges Deactivate futures market for digital assets on December 21st Tweet.
According to Ivanov, Waves does not need a futures market because it is “a breeding ground for FUD and profits from short positions.”
The Waves CEO tagged the social media handles of multiple cryptocurrency exchanges in a tweet, including Binance, OKX, Huobi, Kraken and more.
according to investediain a futures market, participants can buy or sell an asset at a predetermined future date and price.
crypto slate previously reported that WAVES open interest rose 176% on Dec. 8 after South Korean exchange Upbit decided to issue an investment warning on the asset. According to Waves Labs, the DAXA warning hurt the token more badly than the USDN stablecoin unpegging.
On the other hand, Ivanov advised In an effort to buy more spot WAVES tokens to squeeze short-sellers, he did not trade, revealing that the only asset he holds is the stumped token.
WAVES DOWN 98% FROM ATH
The price of WAVES has fallen about 98% from its all-time high of $61, according to the company. crypto slate data.
According to data, the token has been on a downward trajectory since reaching an all-time high in March 2022. Within the last 30 days, the asset has fallen in value by over 30% to its current value of $1.52.
crypto analyst Il Capo of Crypto claimed With a minimum target of $0.11, the price performance is likely to continue.
A post by Waves CEO calling the futures market a “hotbed of FUD” and demanding exchanges void trading first appeared on CryptoSlate.