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Justin Sun: Tron will 'have no problem fending off speculation'

 


The capitalization of USDD, the stablecoin on the Tron (TRX) blockchain, is “only” $270 million, according to Justin Sun. He added that given its capitalization and reserves, Tron would have no trouble fending off speculative attacks.


Tron is faring far better than most

At the time of writing, TRX was trading at $0.07 and had lost just 4.27% of its value. In comparison, most cryptocurrencies in the top 100 by market cap lost 20-30% in the last 24 hours, which was extremely painful. Some have even lost as much as 40%.


It remains to be seen whether Sun's enthusiasm will be justified over the long term, but it hasn't gone unnoticed by pundits. Dyma Budorin, Founder and CEO of Hacken commented:


"Such a statement is in Justin's style - he never misses a single news item that might help him gain attention. I would like to remind you that in the first days of the war he tweeted a screenshot of his conversation with the state representative of the Russian Federation about using TRX in case the Russian Federation loses connection with Swift.” 


Kostiantyn Oleshko, Product Owner of CER.live added:


“In a falling market, all algorithmic stablecoins are at risk. We recommend diversifying your stablecoin portfolio to mitigate all risks.” 


About Kostiantyn Oleshko : Kostya is a Master of Science in Applied Cryptography with 6+ years of experience in the blockchain industry.


He worked as a project manager on many crypto projects, including the companies associated with the National Bank of Ukraine that developed e-hryvnia, the Ukrainian CBDC. He firmly believes that security is the key to mass crypto adoption.


About Dyma Budorin : Dmytro is a blockchain economy influencer who actively promotes the development of virtual assets market in Ukraine in cooperation with the Ministry of Digital Transformation of Ukraine.


In 2021, according to reputable news agencies, Dyma became one of the top 55 Ukrainian IT entrepreneurs.

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