TRON’s USDD stablecoin is not becoming stable, the atmosphere of tension in the crypto market

The TRON stablecoin serves to track the price of the USDD dollar, but it has struggled to maintain its stability over the past week. USDD traded at a low of $0.93 (about Rs 72) on Sunday. Although it also came after that at $ 0.96 (about Rs 75). The TRON DAO Reserve also released a $2 billion (approximately Rs 15,624 crore) fund on June 13 to help restore its price, but that plan also failed after USDD continued to fall.

Reserve then announced plans to withdraw 3 billion TRX tokens from a host of unknown crypto exchanges and DeFi applications to protect the entire blockchain industry and crypto market on June 16, and today bought 10 million USDD with the same mission, but with the same mission. None of the plans could help restore the price.

On June 17, Tron DAO Reserve claimed in a Twitter thread that USDD had failed to hold steady. “USDD is a decentralized stable currency that relies on an on-chain mechanism and collateral assets,” the tweet read.

Let us tell you that a month ago Terra’s UST, another algorithmic stablecoin, fell badly in a span of a few days, plunging almost $40 billion (approximately Rs 3,12,492 crore) from the entire ecosystem.

The Terra crash has been touted as a dark moment for the market and several lawsuits have also been filed against those responsible for promoting the project, Terraform Labs and its CEO Do Kwon.<!–

–>