Tron (TRX) Jumps 24%, Is It A Recovery Or A Dead Cat Bounce?

TRON (TRX) prices have jumped by over 24% since the U.S. Federal Reserve raised the interest rates by 75 basis points. Meanwhile, the TRON blockchain has also gained the support of Crypto finance, an asset management group.

Timeline of Tron

The global crypto market cap fell below the $1 trillion level post the market-wide drawdowns. Without a surprise, the crypto fear and greed index gauged the sentiment to be in the extreme fear zone as it plunged to its record low at the time of writing.

Tron's stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit. The Tron DAO Reserve has deployed more tron tokens and USDC to defend the peg and the DAO's reserve web page shows the coin is overcollaterized by 314%

For the third consecutive day, Tron's blockchain Decentralized USD (USDD) is trading for less than $1. The post TronDAO pulls 2.1B TRX from Binance to ‘safeguard crypto market' as USDD depegg continues appeared first on CryptoSlate.

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.

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.