USDD Is Following The Path Of UST When Sending 100 Million USDT To Increase Reserves?

Last night Bitcoin had a strong rebound after the news that the CEO of TRON sent 100 million USDT to Binance to increase the reserve for USDD. Do Kwon also took similar actions before the collapse of UST?

USDD of TRON is following in the footsteps of UST

The controversial issue is whether BTC’s temporary recovery is due to Justin Sun’s “collection,” and this action is making USDD go in the UST’s footsteps.

In the tweed, the CEO of TRON said that he sent 100 million USDT to Binance to buy BTC and TRX to strengthen the reserve for USDD.

Before that, Do Kwon also did the same thing with UST and the result then made it lose peg; billions of dollars have evaporated from the market quickly.

This action of TRON makes the community believe in its hesitation before. Although on June 5, USDD raised the margin level to more than 200%.

Bitcoin recovery

BTC currently does not have a clear price trend. Its price is still fluctuating between $29k – $31k.

On the evening of June 7, after the news of TRON, the price of BTC was pushed up to $ 31k, then fell sharply this morning and is currently maintaining a stable level.

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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