Tron's Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital

The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD's value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin's web portal usdd.io claims the project is overcollateralized by 200.

Timeline of Usdd

Tron's algorithmic stablecoin (USDD) has lost its peg amid crypto's current tribulations due to the FTX collapse. The USDD is on shaky ground USDD, a stablecoin built on Tron's decentralized autonomous organization (DAO), dropped to $0.

The token dipped as low as $0.97 this morning before recovering to $0.98 at the time of writing. The post Tron-backed USDD loses dollar parity as stablecoin dips below $0.97 appeared first on The Block.

Tron's USDD stablecoin has lost its peg as its price dipped to $0.97, sparking fears of another UST collapse. The post Tron's USDD stablecoin falls to $0.97 as it loses dollar peg appeared first on CryptoSlate.

Tron‘s Decentralised USD (USDD/USD) stablecoin dipped below $0.97 on Monday to touch its lowest level sincethe market turmoil of June 2022. As per data from market tracking site CoinGecko, USDD's value depegged to $0.9695, declines in the stablecoin's value coming amid broader market jitters around cryptocurrency exchanges.

The price of the TRON USDD algorithmic stablecoin has dropped to $0.97, losing even more of its dollar parity. This could potentially put unwanted stress on USDD-paired DeFi pools on Curve.

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.

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.

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.

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.