Can USDD still be saved?

USDD, a Tron algorithmic stablecoin, fell below the dollar mark around a week ago.

Since then, the cryptocurrency has failed to reestablish the dollar peg.

USDD fell to 92 cents intermittently on Sunday June 19th.

The Tron DAO announced the increase of its reserves to stabilize the price.

According to official information, the collateral is now at 2.3 billion US dollars.

The stablecoin is thus 326 percent covered.

According to a tweet Monday, June 20, the Tron DAO bought 10 million USDD “to protect the entire blockchain industry and crypto market.”

So far, however, the countermeasures have not been sufficient to stabilize the course.

USDD is currently trading at 96 cents.

Algorithmic stablecoin USDD uses a hybrid model and is backed by reserves in Bitcoin, TRX, as well as USDT and USDC, among others.

A few weeks ago, Terra’s stablecoin UST, which is also algorithmically secured, collapsed.

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