June 27, 2022

Following the crypto market carnage on Monday, the following day crypto prices have shown some improvement. However, Tron’s stablecoin USDD has once again dropped to $0.974 per unit, indicating a small amount of instability continues to plague the fiat-pegged token. The dip to $0.97 follows Monday’s deviation from the parity and comes after the Tron DAO Reserve deployed large quantities of USDC to shore up the reserve’s defense.

Many cryptocurrency supporters are watching Tron’s stablecoin USDD very closely after the incident that took place within the Terra blockchain ecosystem. On June 13, the algorithmic stablecoin slipped to $0.977 per unit while crypto markets suffered extreme losses throughout the day.

Tron’s USDD Stablecoin Continues to Remain Lower Than the $1 Parity, Tron DAO Reserve Deploys 500M USDC

Source link

See also  Stablecoin Market Cap Indicates Positive Trend in Crypto Hints JP Morgan
X