USDD

The dip to $0.97 follows Monday's deviation from the parity and comes after the Tron DAO Reserve deployed millions in USDC to defend the peg.

After the price of USDD dropped to $0.97 again, the Tron DAO Reserve deployed another 500 million USDC to defend the peg, bringing the collateral backing up to 310% by 8:40 a.m. (ET) on Tuesday morning. 140 million USDT is also held by the reserve and 500 million USDC is also recorded in the Tron DAO reserve ledger. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. “For the current market extreme condition, [the Tron DAO Reserve] has received another 500 million USDC to defend USDD peg. The dip to $0.97 follows Monday’s deviation from the parity and comes after the Tron DAO Reserve deployed large quantities of USDC to shore up the reserve’s defense. With USDD hitting a low of $0.974, a $100 investment would only equate to $97.40. On Tuesday, Tron’s founder Justin Sun tweeted about the USDD movement against tether ( USDT). On Tuesday, crypto prices have seen a slight improvement but USDD is still under the $1 parity. “Currently USDC supply on TRON has reached $2.5 billion.” The drop happened after the Tron DAO reserve decided to deploy millions of USDC to defend the token’s $1 parity. Many cryptocurrency supporters are watching Tron’s stablecoin USDD very closely after the incident that took place within the Terra blockchain ecosystem. However, Tron’s stablecoin USDD has once again dropped to $0.974 per unit, indicating a small amount of instability continues to plague the fiat-pegged token.

The Tron stablecoin USDD took a small dive on Monday, dropping to $0.977 per unit during the crypto market carnage.

On one of the blackest Mondays in the world of crypto assets, the stablecoin USDD fell to $0.97 per unit and the Tron DAO Reserve had to deploy funds to defend the $1 parity. Then the Tron DAO Reserve announced a number of purchases meant to defend the peg. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Tron’s claim is that USDD backing will be overcollateralized by at least 130% and Sun believes this method will make investors more comfortable with the stablecoin. It is also being said that Tron’s native asset TRX is being heavily shorted by traders and Justin Sun explained that $2 billion would offset the shorters causing a short squeeze. Furthermore, the stablecoin USDD took a small dive on Monday, dropping to $0.977 per unit during the crypto market carnage.

TRON founder Justin Sun said he will set up a $2 billion fund to support the dollar peg of the project's stablecoin USDD and "fight" short sellers, ...

- The collateralization rate of USDD is 247.01% as of press time — or almost three times the value of USDD available — according toTron DAO Reserve, with BTC accounting for almost 30% of the reserve. - After Sun announced the US$2 billion fund, the stablecoin’s reserve, Tron DAO Reserve, said in a tweet it had received as much asUS$700 million in the USDCstablecoin to support the USDD peg, bringing the total defense fund to in excess of US$2.5 billion. TRON founder Justin Sun on Monday said he will set up a US$2 billion fund to support the dollar peg of the project’s stablecoin USDD and “fight” against short sellers, after the stablecoin’s price fell to US$0.97.

Tron's USDD stablecoin loses dollar peg amid extreme downturn in the crypto market. Fears abound as to the likely crash of the stablecoin.

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Justin Sun, founder of TRON, now Permanent Representative of Grenada to the World Trade Organization (WTO), said that the TRON DAO will deploy funds to protect ...

Funding rate of shorting TRX on Binance is negative 500% APR. TRON DAO will deploy 2 billion USD to fight them. Short squeeze is coming. - Justin Sunsaidthat TRON DAO will be deploying $2 billion to fight short positions on Binance because of the funding rate.

The Tron network's stablecoin lost its peg to the dollar on Monday, recalling the implosion of TerraUSD. Founder Justin Sun tweeted that he will fight ...

Cryptocurrencies dropped sharply on Monday as Celsius, a crypto lender, announced that it suspended all withdrawals and transactions to prevent a run on deposits. It relies on an elaborate, automated balancing mechanism that involves alternately creating and destroying units of USDD and TRX. According to Sun, TronDAO “will deploy $2 billion to fight them.”

TRON's newly launched stablecoin (USDD) may be running into trouble just months after launch.

Collateral is not the only layer of defense that the TRON CEO has lauded. The de-pegging of USDD has only added to the increasing sense of fear factor in crypto. In response Tron’s CEO Justin Sun explained that the Tron DAO which manages USDD is “actively buying crypto… For Terra customers, much of Sun’s script may sound eerily familiar. As yet, TRON’s total reserves in all currencies remain short of that goal. The crypto market remains jittery this Monday after the lending platform Celsius announced it was suspending all customer withdrawals.

Analytics platform Nansen showed that one of the funds that capitalized on the UST depeg has started to transfer large amounts of USDD. 8826 Total views.

With this in play, the team behind the stablecoin explained that the collateralization ratio of USDD is now boosted to 300%. In May, the USDT-dollar peg also showed signs of wobbling, as the stablecoin traded below $0.99 on some exchanges. Without considering Tron ( TRX), the ratio falls down to 73%.

Amid Monday's crypto market crash, Tron's stablecoin USDD lost its dollar peg, slipping to lows of $0.9764.

“Funding rate of shorting TRX on Binance is negative 500% APR,” Sun tweeted on Monday . “[Tron DAO Reserve] will deploy 2 billion USD to fight them. On Monday, the Tron DAO Reserve announced a number of measures meant to further “safeguard the overall blockchain industry and crypto market.” [A] short squeeze is coming.”