Tron stablecoin USDD loses dollar peg

In the course of massive sell-off waves on the crypto market, Tron’s USDD stablecoin lost its dollar peg.

At its low, USDD was $0.97, and the cryptocurrency is currently trading at $0.98.

To stabilize the course, the Tron DAO topped up its reserves with USD Coin (USDC), a stablecoin from Coinbase and Circle.

“TRON DAO Reserve has increased supply of USDC on TRON by 650,000,000. Currently, USDC supply on TRON has reached $2.5 billion,” the DAO announced .

The “USDD collateralization rate” is now “nearly 300 percent,” according to the DAO.

USDD's volatility is only a few cents, but with Terra's recently failed stablecoin UST and its associated LUNA token, concerns are growing as to whether the Tron coin could tumble further below the dollar mark.

Like Terra's UST, USDD is an algorithmic stablecoin.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

The 5 largest platforms for non-fungible token (NFT) collectibles

Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day. More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream. But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token. Any asset that is tokenizable can be an NFT. This includes, for example, (digital) works of art, trading cards, game items and crypto domains. Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain. This allows them to store value just like real objects, even if additional copies are easy to make. For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...

Cardano: This is the vision that founder Charles Hoskinson has

The Altcoin Cardano has tended to decline in recent weeks. The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment. Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency Cardano has had a difficult few months. While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months. Cardano is faced with some difficulties. The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment. The upgrade should make it possible to use smart contracts on the cryptocurrency as well. It soon turned out, however, that although these were entered into Cardano,...

Cryptostreet

Search This Blog