South Korean Exchange Issues Warning on Tron and Waves' Stablecoins

South Korea's largest domestic crypto exchange has sounded the alarm over the de-pegging of Tron's USDD and Waves' Neutrino USDN stablecoins. The post South Korean Exchange Issues Warning on Tron and Waves' Stablecoins appeared first on BeInCrypto.

Timeline of Tron, Waves

TRON's freshly introduced USDD algorithmic stablecoin has already encountered difficulties. It wasn't long ago that the crypto market saw the demise of a crypto asset. This crash was influenced by Terra network's algorithmic stablecoin UST, which failed equality with the US dollar. The UST stablecoin collapse caused a tremendous effect throughout the crypto market. It …

The TRON-USDD stablecoin plummeted to the $0.97 mark, intensified the selling pressure amid the recent crypto crash. Thus, the TRX price falling for seven consecutive days reflected a 38.5% loss and plunged the altcoin to a $0.05 psychological level.

Tron's native token, TRX, fell sharply in the past 24 hours as the blockchain's USDD stablecoin broke away from its dollar peg.  TRX slumped as much as 19%, and is now trading at $0.05- its lowest in 15 months.

The token dipped as low as $0.959 this morning before recovering to $0.974 at the time of writing. The post Tron's USDD dips below 96 cents as stablecoin enters third day adrift appeared first on The Block.

Tron's USDD stablecoin traded at $0.968 as of 5:18 a.m. ET on Wednesday. The post Tron DAO Reserve pulls 2.5 billion TRX from Binance as USDD slips further from peg appeared first on The Block.

The Tron DAO Reserve (TDR), the entity in charge of managing Tron-based stablecoins, aims to deploy another USD 500m worth of the stablecoin USD coin (USDC) to defend the peg of its algorithmic stablecoin USDD.

Tron (TRX) has been decreasing since the end of May, but further accelerated its rate of descent last week. It is possible that the decrease is occurring as a result of the de-pegging of USDD, which had been announced as an overcollateralized stablecoin.

Tron's algorithmic stablecoin, Decentralized USD (USDD) remained below its intended price peg with the U.S. dollar on Tuesday even after the team behind the project rushed to shore up the currency with over $2 billion in reserve assets.

Justin Sun has invited anyone laid off during the ongoing crypto winter to apply for jobs across several Tron-based projects. They include Tron DAO, Poloniex, BitTorrent, USDD, Ape NFT, Just Network, and Sun.io.

TronDAO has bought a further 500 million USDC stablecoin today, it announced on Twitter. The post Tron DAO Reserve adds another 500 million USDC to help USDD stablecoin peg appeared first on The Block.