Tron [TRX]: USDD de-peg, FTX collapse, and everything that might affect you

Tron's stablecoin USDD de-pegged following significant USDD conversions to USDT and USDC TRX has since recorded massive coin distribution leading to a further price decline amid the FTX debacle Amid the general cryptocurrency market's decline due to the collapse of FTX, Tron's TRX algorithmic stablecoin Decentralized USD (USDD) fell from its $1 peg.

Timeline of Tron, Usdd

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.

TRX ditched its low volatility phase after the broader market pulldown Barring an exception, the crypto's funding rates on most exchanges depicted a bearish edge In challenging its compression phase within the $0.061-$0.

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.

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.

Once a week, the official Tron Twitter account would tweet out an update for the world to see. The events of the past week, the post claims, have provided Tron with new possibilities.

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.

Tron [TRX] recently published its latest weekly report, which discussed all the necessary and notable community developments over the last seven days.  ?Check out #TRON  Highlights from this week (Oct 29, 2022 – Nov 4, 2022).

With the recent general market price rally, Tron [TRX] traded at a five-day high of $0.06382 on 5 November as per data from CoinMarketCap. The cryptocurrency stood at rank #15 by market capitalization.

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.

TRON network recently released its latest weekly update, one that you might want to look into especially if you are a TRX trader/investor. In fact, some argue that these developments might influence the demand for TRX going forward.