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FTX Crisis: Justin Sun's Algorithmic Stablecoin USDD Depegs

coingape.com

Tron founder Justin Sun looks to work on a “wholistic solution” to save FTX from the liquidity crunch. Meanwhile, on-chain data suggested algorithmic stablecoin USDD has started to depeg suddenly and is now trading at $0.974.

Read in Full: coingape.com

Timeline of Usdd


Justin Sun Hints At A Potential FTX Revival ‘Solution' For $USDD - EWN

Tron founder Justin Sun is the latest to offer a solution for the FTX exchange. The crypto entrepreneur said on Twitter that a solution was being put together with FTX to initiate a path forward.


Messari Releases Q3 2022 State of TRON and State of USDD Reports - Bitcoin

Geneva, Switzerland / November 8, 2022 / – Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem – State of TRON Q3 2022 and State of USDD Q3 2022.


Messari Releases Research Reports on the TRON Ecosystem and the Stablecoin USDD - CryptoNewsFlash

Geneva, Switzerland, 7th November, 2022, Chainwire Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem – State of TRON Q3 2022 and State of USDD Q3 2022.


How far behind is USDD in the stablecoin race? Data suggests - AMBCrypto

USDD, Tron's decentralized, overcollateralized stablecoin had an impressive third quarter after witnessing a chaotic Q2. Some good news Messari, a leading crypto-analytics platform, recently tweeted some metrics in relation to USDD.


USDD Stablecoin Users Increased by 500% in Q3 - EWN

The beleaguered Tron stablecoin USDD has broken out of its slump, with a 500% increase in users in Q3. Crypto market intelligence firm Messari published a report on Nov. 3, highlighting how the stablecoin had seen growth across a few metrics.


Huobi Introduces Zero Trading Fees for Advisor Justin Sun's USDD Stablecoin - EWN

The Huobi exchange is running a promotional offer until December 31, in which there will be no trading fees for USDD pairs. USDD is the stablecoin of the TRON network, and founder Justin Sun is an advisor to the exchange.


One Ethereum Rival Tripled Its Share of Total Value Locked Across DeFi After Terra (LUNA) Implosion: New Study - The Daily Hodl

A new report from crypto ranking platform CoinGecko is shedding light on one Ethereum (ETH) rival that tripled its share of total value locked (TVL) in the decentralized finance (DeFi) sector after the collapse of the Terra (LUNA) ecosystem.


Tron's USDD Regains Stability After Tapping an All-Time Low at $0.92 - Bitcoin

Between June 13 and June 27, or roughly two weeks, Tron's stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June 19. During the past seven days, USDD has managed to jump back to the $0.98 to $0.99 region while reaching $1 on July 3.


Breaking: Justin Sun To Dump On USDD Investors, YouTuber Alleges - Coingape

As USDD continues to perform below the $1 peg, there is talk of whether or not any risk is involved for the investors. After losing the dollar peg on June 13, the stablecoin has since then fallen to a low of $0.93 before regaining the $0.98 level.


One Week Later, TRON's Terra Ripoff Is Still Worth Less Than a Dollar - Crypto Briefing

In a move reminiscent of Terra's UST collapse last month, TRON's USDD lost its peg to the dollar on Jun. 13. One week later, it's still trading below its price target—and that's after a $2 billion cash injection from the TRON DAO Reserve.

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