USDD Algorithmic Stablecoin Remains Depegged After Two Days

USDD Depegs

$USDD launched by Tron at the beginning of 2022 depegged from its 1:1 peg with the US Dollar on the 13th and remains under $1.

Decentralized USD ($USDD) has been experiencing market pressure after fellow algorithmic stablecoin $USTC depegged from the USD where it remains at $0.00718. USDD depegged initially dropping to $0.98, where it is now trading at $0.96.

The TronDAO had administered 700 million $USDC to defend the $USDD peg, leaving the reserve with a collateralization rate of almost 300%.

Since this news TronDAO has stated they will withdraw 2.5 billion $TRX from Binance to further “safeguard the overall blockchain industry and crypto market.” So far 1,788,999,997 TRX has been withdrawn.

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$USDDUSDDNet sentiment—Mentions · 30d—View on the dashboard $USDCUSD CoinNet sentiment+0.08Bullish54%Mentions · 30d114Samplen=114View on the dashboard $TRXTRONNet sentiment+0.11Bullish87%Mentions · 30d31Samplen=31View on the dashboard

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