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TRON’s USDD Stablecoin Losing Peg as TRX Price Slumps

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The sad stories of algorithmic stablecoins losing their peg continue. This time the focus is on USDD TRON, which is trading 2% below the dollar parity.

  • After the UST-Terra fiasco, another algorithmic stablecoin appears to be in danger of losing its peg.
  • We are talking about USDD, which runs on the TRON blockchain and uses an algorithm similar to UST, but tied to TRX.
  • At the time of this writing, the cryptocurrency is trading at $0.98, about 2% below the estimated price.
Source: CoinMarketCap

  • This happens at a time when the price of TRX is also falling. Right now, the altcoin is trading with daily losses of around 6%, having recovered from a tumultuous morning session when it lost even more.
  • Despite all of the above, Justin Sun remains positive and expects the tether to be restored within the next 24 hours.

USDD/USDT sunIO 2pool recovered to 55/45 balance. I believe that in 24 hours it will be back to 50/50 with a collateral rate of 247%. You can see the fear here, but I see a 2% opportunity.

  • As Crypto Potato Yesterday it was reported that the TRON DAO reserve will be directed to $2 billion to protect the peg to the US dollar.
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Credit : cryptopotato.com

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