{"id":26742,"date":"2022-05-12T10:14:52","date_gmt":"2022-05-12T14:14:52","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=26742"},"modified":"2022-05-12T10:15:00","modified_gmt":"2022-05-12T14:15:00","slug":"trx-prices-increase-by-7-after-tron-buys-it-at-discount","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/trx-prices-increase-by-7-after-tron-buys-it-at-discount\/","title":{"rendered":"TRX Prices Increase By 7% After Tron Buys It At Discount"},"content":{"rendered":"\n
TRON<\/a> leveraged the fall in the price of USDT by 100 million Tether to protect TRX in the volatile market.<\/h5>\n\n\n\n
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TRON<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

TRON Founder Justin Sun recently announced a $2 billion reserve to protect its native token TRX<\/a> in the aftermath of Terra's historic crash.<\/p>\n\n\n\n

Every cryptocurrency is attempting to hold its ground amid the current market crash. Many crypto leaders are moving funds in this bid to ensure the stability of their network's tokens.<\/p>\n\n\n\n

The TRON DAO Reserve\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which backs its stablecoin USDD, has announced a safeguard. It stated that they purchased approximately 100 million Tether (USDT<\/a>) at an average price of $0.982. It only cost them $98.2 million. TRON simply purchased the dip.<\/p>\n\n\n\n

USDT, the largest dollar-pegged stablecoin, fell by 4.8 percent to $0.95. It has dropped to its lowest level since the 2017 cryptocurrency crash. However, the USDT has recovered to $0.99 in a matter of hours. It has fallen 0.78 percent in the last 24 hours.<\/p>\n\n\n\n

TRX token has benefited from this trade, with its price increasing by more than 7% immediately following the announcement. At the time of writing, the TRON token was trading at an average price of $0.07. Its 24-hour trading volume has increased by 30% to $4.2 billion. TRX was possibly one of the coins that survived the crash with the green indexes. The token has increased by 17 percent in the last 30 days, while Bitcoin<\/a> has decreased by 30 percent.<\/p>\n\n\n\n

TRON Network also announced that it will increase the $400 million supply of USDC and TUSD on TRON within the next two hours. Both stablecoins will see a $200 million increase. The company reserve previously purchased over $97 million in TRX tokens to protect the crypto market. The purchase was made for $0.0661 on average. TRON has also added 1,000 Bitcoins at an average price of $30,096 to ensure the market's stability.<\/p>\n\n\n\n

According to WhaleStates, over $20.9 million in TRX tokens were transferred from the Binance crypto exchange to various wallets.<\/p>\n","protected":false},"excerpt":{"rendered":"

TRON leveraged the fall in the price of USDT by 100 million Tether to protect TRX in the volatile market. TRON Founder Justin Sun recently announced a $2 billion reserve to protect its native token TRX in the aftermath of Terra’s historic crash. Every cryptocurrency is attempting to hold its ground amid the current market […]<\/p>\n","protected":false},"author":33,"featured_media":26744,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-26742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/shutterstock_1975826822.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=26742"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/26744"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=26742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=26742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=26742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}