The Tron stablecoin USDD took a small dive on Monday, dropping to $0.977 per unit during the crypto market carnage.
After the Terra UST fallout and the current crypto market volatility, many eyes have been focused on the Tron-based algorithmic stablecoin USDD. On June 13, the crypto asset tron dropped significantly in value and Tron’s founder Justin Sun spoke about traders shorting the digital currency. Sun explained that the Tron DAO Reserve would deploy $2 billion to “fight them” and said he didn’t think the shorters could last 24 hours.
Another Stablecoin Wobbles, While the Crypto Economy’s Value Drops Massively — Tron DAO Reserve Deploys USDC to Defend USDD Pegfell to $0.97 per unit and the Tron DAO Reserve had to deploy funds to defend the $1 parity. “For the market extreme condition, [Tr on DAO Reserve] has received 700 million USDC to defend [the] USDD peg. Now USDD collateralization rate is nearly 300%,” the organization
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