It's a toxic asset but waves market cap is already quite low.
Bear target remains 15-50 cents the most important thing is that ivanov is removed from the project because he is a liability from years of frauding investors.
Ivanov was sabotaging projects on waves for many years through waves association, better tokens and more recently gwx which is completely fraudulent voting because he owns majority of gwx and destroys any chance of token verification except from their insider tokens which are immediately upvoted with millions of gwx by him and waves team. this is very far removed from a deceantrliazed democratic economy in fact it is despotic and totalitarian just like the true communist platform that waves really is behind the curtain.
Waves is good still because of low trading fees but only for projects that already have traction and these projects have offers from much more prominent players like Binance etc.
It also has a use case as a lending/crowdfunding platform but the collateral must be waves not USDN because it is not legal to issue counterfeit currency in resemblance of offical US currency.
Despite all these problems the relative market cap bubble is miniscule compared to top 10. So it can easily pump 200% every now and then. BNB/Solana are 40 and 10bn caps respectively.
Biggest bang for buck is TN at 250k cap. x100 short term upside.
My final advice for Ivanov if he is to escape prosecution is to deconstruct USDN without imploding the peg. The reason he wants to implode the USDN peg is because he is shorting waves with 1 billion in Vires rugpull funds on Binance.
Luckily Binance already is aware of this and is warning users to be careful with waves because of USDN depeg which is intentionally caused by ivenov. I dont think Binance will allow Ivanovs short to continue and if they do, Secret Service and SEC will shut him down, he will not be able to escape with this profit.
So what he needs to do is formally stop USDN before comitting more crimes. He is digging his own grave right now.
And also repay my nr.1 investor who he stole 7000 waves ffrom in 2020 with WUSD fraud. This is Ivanovs business method, issue fake USD stablecoins and then rugpull users. not the first time but hopefully he is in a scale of fraud this time that some legal attention will take effect.
Sorry for Ivanovs kids to have a shit father and when they grow up they will come here and read on Bitcointalk about this.
In Inanovs defense I dont think he had criminal intent in 2020 with Defi but at this point he is fully engulfed in criminal actions.
The idea of Defi is not wrong the execution was simply mismanaged because of criminal greed. After market bear cycle flush the greed out it is possible defi 2.0 will gain momentum for bull 5. This flush must include ivanov and USDN. Waves will suffer for a while then bounce back better.
Ivanov is tech guy he is financial illiterate. I was in finance for 18 years and my family created investment banking in the 19th century during california goldrush with Lazard. It is a different ocean of knowledge. So everything this guy is doing financially is like watching infant crawling on the floor.
Goldman guys on crypto twitter picked it apart in an afternoon once they got wind of it. Ponzi, they call it.
So what is the solution and 6 month prediction?
-Ivanov prosecution/Alameda lawsuit and subsequent removal. I think he will be fined not imprisoned and must forfeit the stolen money althought the scale of fraud could indicate prison time.
-USDT/USDC is already captured by US government so will permit operations but small stables like USDN must be approved for licensing
-Waves can never gain USDN licensing by SEC because it is Russian communist party controlled
-As a result price of waves will tumble sub dollar and possibly Binance delisting
On the other hand if they turn it around then the upside is potentially x100 in waves price from todays 4.5 usd. The odds are 80/20 in favor of negative outcome at present. The only way for 500 usd waves price is merger with US intelligence shell company which will then permit USDN licensing. All waves will then be swapped and burnt in exchange for example 1:100 solana or xlm. Investors always lose big tiem in the short term when stuff like that happens.
So Ivanov may be able to cut a deal with US intelligence as Russian deserter in exchange for clemency but he will not be able to remain involved in waves in any way.
If he is smart then he closes short on Binance soon and then there will be rally +500%. After this recovery the real bad news will come to bring waves below 50 cents. So he must close the 1bn short and not ride until the end because the risk of asset confiscation on Binance or SEC is too great by then. After 500% pump continuation to 500 may follow on the off chance that USDN is licensed with a backroom deal but it is more probable back to 50 cents for now. Both outcomes will hurt majority of retail investors who will be out of position at 25-35 usd but the short is five times more likely than continuation to 500 it dependson global and when.
buy 4.4-2.7 take some profit 24-34 (15% of max position on entry/exit in these intervals, all in 50 cents or lower)
