USDD Algorithmic Stablecoin Remains Depegged After Two Days

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 So far 1,788,999,997 TRX has been withdrawn.