Tron-Based Stablecoin USDD Falls Again from $1 parity to a low of $0.969 on Monday, December 12, 2022. Amid USDD’s declining value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” while the stablecoin web portal usdd.io , he is 200.8% overcollateralized at the time this project is written.
Justin Sun Tells Crypto ‘Lads’ to Hold ‘Steady’ as USDD Team Deploys More Capital
Tron’s Stablecoin USDD is the 8th largest dollar-pegged token Ranked 57th by largest market capitalization among thousands of crypto assets. On Monday, the Tron stablecoin dropped to $0.969 per token around 2:51am ET, while USDD was trading at $0.979 per unit around 8am. The TRON stablecoin has fallen in fiat value, but Tron founder Justin Sun has confirmed that USDD is an over-collateralized stablecoin by sharing the URL usdd.io. generally reassured.
Deploy More Capital – Solid Young People
— Do Kwon 🌕 (@stablekwon) May 9, 2022
A portal dedicated to the Webtron stablecoin claims that USDD was overcollateralized by 200.8% at 8:00 am ET on December 12th. 30} tweeted. “You can see all your live data on the blockchain 24/7,” the Tron founder added. tweeted. That’s once said by Terra co-founder Do Kwon when UST was losing its peg. The Sun writes:
Deploy more capital – stable young people.
On November 11th, the day before FTX filed for bankruptcy protection, he said on November 10th, 2022, USDD fell below $1 as the stablecoin fell below $1. This isn’t the first time it’s fallen below the peg. 10, USDD fell to $0.976 per unit before returning to the $0.99 range around 1pm on November 18th. (ET).
Tron’s USDD fell further on June 19, 2022, falling to $0.928 per dollar. Unit half a year ago. By the first week of July, he started deviating again, and all the way through November 7, 2022, he had his $1 par value back.
Interestingly, the Tron stablecoin hit an all-time high just one month before he tapped $1.04 per unit on November 9, 2022. At the time of writing, USDD has an overall market capitalization of about $711.31 million and an estimated 24-hour global trade volume of $79 million.
stablecoin supply increased by 0.2% over the last 30 days. Since June 3, 2022, USDD’s market capitalization has increased by 6.6% from $666.7 million to his current $711 million. Tron’s stablecoin has been listed on countless centralized and decentralized trading platforms, with He Huobi being the most active exchange on December 12th.
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