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

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.

Timeline of Usdd

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.

Despite recent efforts by the Tron DAO to overcollateralize the token, Tron's algorithmic stablecoin USDD appears to be in crisis. During market turbulence, the theoretically stable USDD token lost its peg to the US dollar. The coin is now trading for $0.98, according to reports. TRX also dropped more than 25% from June 13 to …

It is a known fact that the crypto space is now in the middle of a notable bear market which is yet to find its bottom. The star crypto, Bitcoin, currently appears struggling to restore the last line of defence above $20,000. In such a case, the crypto market tumbles down heavily and at the …

The USDD stablecoin slips from the dollar peg during the recent market downturn and hit $0.9764 as we can see more today in our latest Tron news. Amid the Monday crypto crash, Tron's algorithmic USDD stablecoin lost its dollar peg and slipped to a low of $0.9764 as per the data from CoinMarketCap.

Another algorithmic stablecoin lost its peg, this time it is USDD. Launched by TRON only a month ago, USDD lost its peg as heavy selling across the top cryptocurrencies has persisted.

The ongoing crash in the cryptocurrency market witnessed a heavy amount of sell-offs across the market. Bitcoin and altcoins, both saw massive liquidations amounting to millions on a daily basis.

TRON's newly launched stablecoin (USDD) may be running into trouble just months after launch. The post USDD Stumbles and De-Pegs Just Months After Launch appeared first on BeInCrypto.

The week began on a wrong footing for the crypto market as the market's bleeding continued after a brief stop. Due to the extreme market situation, withdrawals for some tokens were halted, as reported by the Celsius Network.