TronDAO to initiate a 3 billion withdrawal to guard TRX's value

TronDAO announced it would be withdrawing another 3 billion TRX from a CeFi and DeFi lending platform. The post TronDAO to initiate a 3 billion withdrawal to guard TRX's value appeared first on CryptoSlate.

Timeline of Tron

The Federal Reserve of the United States has hiked interest rates by 75 basis points and since then the TRON (TRX) prices are up by more than 24%. Moreover, Crypto Finance, an asset management firm, has backed the TRON blockchain. The TRX currency has had a rough week, falling in line with the other main …

The Rectifier project introduced its RECT token, which promises stable growth for investors despite the fluctuations in the crypto market, Invezz learned from a press release. RECT also facilitates safe and anonymous Telegram trading. A unique platform Rectifier is a unique platform targeting everyone who wants to apply advanced tools and strategies via its TRC20 The post TRON-based Rectifier token to create free global entertainment system appeared first on Invezz.

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.

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.