$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 So far 1,788,999,997 TRX has been withdrawn.
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