Tron’s USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit – Bitcoin News

Tron’s stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit. The Tron DAO Reserve has deployed more tron tokens and USDC to defend the peg and the DAO’s reserve web page shows the coin is overcollaterized by 314% at the time of writing.

Tron’s USDD Has Been Unable to Surpass $0.98 During the Past 24 Hours

The stablecoin USDD, issued on the Tron blockchain, is an algorithmic stablecoin that also leverages overcollateralization to hold a $1 peg. USDD was unable to maintain the $1 parity in the past 24 hours and has seen its price fluctuate over the past 72 hours. USDD was showing signs of resilience on Monday. SlackThe USDD fell below $1, then hit an all-time low on Tuesday. $0.974 per unit.

Tron DAO reserve will take place on Wednesday deployed more USDCTRX and TRX are used to defend the peg. “To ensure the safety of both crypto markets and blockchain industries in general Tron DAO ReserveIt has sent 100 million USDC from Tron to Binance in order to buy TRX,” the organization tweeted. Tron DAO reserve was established shortly after this tweet. wrote: “To safeguard the overall blockchain industry and crypto market, TRON DAO Reserve will withdraw 2.5 billion TRX out of Binance.”

Tron Founder Tells DAO Reserve to ‘Keep Withdrawing,’ While Supporters Claim It’s Not Fair to Compare USDD With UST

As the Tron DAO Reserve withdrew more assets to add to the collateral, Tron’s founder Justin Sun wrote: “Keep withdrawing,” like a captain at the helm. Speculation and concerns about USDD are swirling constantly on forums and social media and the tokens celsius network (CEL) and Tron’s USDD are the most searched coins on coingecko.com during the last 24 hours. It is all very intense. speculationConcerning USDD collapsingComparing USDD with terrausd is one of the most popular. conversation.

However, some USDD supporters believe the discussions and speculation surrounding Tron’s stablecoin stem from fear, uncertainty, and doubt (FUD) tactics. “There’s so much FUD about Tron [and]USDD compared to LUNA [and] UST,” the Twitter account Thanx Finance wroteThis Wednesday. “Wake up, it’s not gonna collapse, just check the stats and buy the dip. 300% + total collateral ratio. 700 [million]USDD Supply [is less than the]4.5B TRX [market capitalization],” the Tron supporter added.

USDD currently trades at $0.974 per unit. However, it has not exceeded $0.987 in the last 24 hours.

What do you think about Tron’s USDD falling to $0.95 on Wednesday? Comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been active since then. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.