Tron’s USDD Is Below $0.982, Will It Collapse?
Tron’s USDD has been trying to find its peg all this time, even as the market has stabilized following the FTX crash in early November.
Justin Sun Tron’s algorithmic stablecoin has fallen, and the current price is 0.981 US dollars, and USDD accounts for 82% of the USDD/3CRV pool.
USDD claims $1,455 billion as collateral, with a 200% leverage. However, the official website indicates that TRX is valued at around $825 million, while the true value is $578 million (at the time of writing), with approximately $476 million TRX in the burning contract and illiquid. All USDCs borrowed through JustLend are jUSDCs.
To quell concerns from the community, Sun presented evidence pointing to the stablecoin collateral.
Lessons from UST in May are still there. However, with Tron’s stablecoin market capitalization of less than $1 billion, it does not appear to have had a major impact on the industry as a whole.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
Coincu News
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Tron’s USDD Is Below $0.982, Will It Collapse?
Tron’s USDD has been trying to find its peg all this time, even as the market has stabilized following the FTX crash in early November.
Justin Sun Tron’s algorithmic stablecoin has fallen, and the current price is 0.981 US dollars, and USDD accounts for 82% of the USDD/3CRV pool.
USDD claims $1,455 billion as collateral, with a 200% leverage. However, the official website indicates that TRX is valued at around $825 million, while the true value is $578 million (at the time of writing), with approximately $476 million TRX in the burning contract and illiquid. All USDCs borrowed through JustLend are jUSDCs.
To quell concerns from the community, Sun presented evidence pointing to the stablecoin collateral.
Lessons from UST in May are still there. However, with Tron’s stablecoin market capitalization of less than $1 billion, it does not appear to have had a major impact on the industry as a whole.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
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