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

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.

Timeline of Usdd

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.

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.

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.

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.

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.

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.

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.

Last week, the Tron ecosystem suffered a huge setback when the USDD stablecoin lost its $1 peg. This caused traders to be concerned, as USDD was released last month as a competitor to Terra's UST, an algorithmic stablecoin. Another de-pegging of a similar asset resulted in TRX's price dropping for a short time. Following the …

The Tron ecosystem had a major blow last week when the USDD stablecoin lost its $1 peg. This led to concerns among traders as USDD was launched last month as a rival to Terra's UST, an algorithmic stablecoin.

With UST mixed into the dust and USDD struggling to keep up; could Tether be the next in line for the stablecoin massacre? The crypto market volatility has ramped up pressure on stablecoins recently after Celsius froze account transactions.