{"id":9120,"date":"2022-12-12T13:02:40","date_gmt":"2022-12-12T13:02:40","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=9120"},"modified":"2022-12-12T13:02:41","modified_gmt":"2022-12-12T13:02:41","slug":"trons-usdd-stablecoin-falls-to-0-97-as-it-loses-dollar-peg","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9120","title":{"rendered":"Tron&#8217;s USDD stablecoin falls to $0.97 as it loses dollar peg"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>Tron\u2019s USDD stablecoin has lost its peg as its price dipped to $0.97, sparking fears of another UST collapse.<\/p>\n<p>The Tron-based algorithmic stablecoin <strong>launched<\/strong> on May 5, and its market cap currently stands at roughly $708 million. Tron founder Justin Sun said USDD would be over-collateralized by low-volatile assets like <strong>USDT<\/strong>,\u00a0<strong>USDC<\/strong>,\u00a0Bitcoin, to avoid a repeat of UST\u2019s collapse.<\/p>\n<p>The Tron DAO Reserve shows the USDD supply at $725.3 million, with collateral consisting of TRX, BTC, USDT, and USDC totaling $1.4 billion in value \u2014 equating to a ratio of 200%.<\/p>\n<p>Over the last seven months, USDD has mostly maintained its dollar peg besides de-pegging briefly on June 14, when it traded at $0.97.<\/p>\n<p>According to CryptoSlate data, the USDD algorithmic stablecoin has lost its dollar peg again, as its current price sits at $0.978.<\/p>\n<p>In addition, USDD is currently imbalanced on Curve as it accounts for 82% of the USDD\/3CRV pool.<\/p>\n<p>USDD\u2019s recent depeg has spread fears and speculations about the collapse of another algorithmic stablecoin. Since the UST collapse of May 9, Wave-backed USDN has lost its dollar peg below $0.8.<\/p>\n<p>USDD falling below its dollar peg has led to fear in the market causing Tron\u2019s native TRX token to fall 3.5% over the last 24 hours.<\/p>\n<h2>Justin Sun to the rescue<\/h2>\n<p>Justin Sun said Tron is deploying more capital to restore the peg.<\/p>\n<p lang=\"en\" dir=\"ltr\">Deploying more capital \u2013 steady lads https:\/\/t.co\/55pra5wQMi https:\/\/t.co\/CexyaBy2hx<\/p>\n<p>\u2014 H.E. Justin Sun\ud83c\udf1e\ud83c\uddec\ud83c\udde9\ud83c\udde9\ud83c\uddf2\ud83d\udd25 (@justinsuntron) December 12, 2022<\/p>\n<p>CryptoSlate checked the Etherscan address shared by the Tron Founder and confirmed that roughly $200,000 TUSD has been deployed to rescue USDD so far.<\/p>\n<p>When USDD first depegged on June 14, TRON DAO\u00a0 injected about $700 million USDC to restore USDD to its dollar peg.<\/p>\n<p>Posted In: Tron, Stablecoins<\/p>\n<h3>Read Our Latest Market Report<\/h3>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/trons-usdd-stablecoin-falls-to-0-97-as-it-loses-dollar-peg\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron\u2019s USDD stablecoin has lost its peg as its price dipped to $0.97, sparking fears of another UST collapse. The Tron-based algorithmic stablecoin launched on May 5, and its market cap currently stands at roughly $708 million. Tron founder Justin Sun said USDD would be over-collateralized by low-volatile assets like USDT,\u00a0USDC,\u00a0Bitcoin, to avoid a repeat [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-9120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9120"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9120\/revisions"}],"predecessor-version":[{"id":9122,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9120\/revisions\/9122"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9121"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}