{"id":26862,"date":"2022-05-14T09:12:38","date_gmt":"2022-05-14T13:12:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=26862"},"modified":"2024-07-28T07:39:29","modified_gmt":"2024-07-28T11:39:29","slug":"tron-new-addition-takes-stablecoin-supply-beyond-1-billion","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tron-new-addition-takes-stablecoin-supply-beyond-1-billion\/","title":{"rendered":"Tron&#8217;s New Addition Takes Stablecoin Supply Beyond $1 Billion"},"content":{"rendered":"\n<p>The TRON DAO Reserve increased its USDC supply by $400 million bringing the total circulating supply of stablecoin beyond $1 Billion<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion-1024x576.jpg\" alt=\"Tron's New Addition Takes Stablecoin Supply Beyond $1 Billion\" class=\"wp-image-26864\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion-1024x576.jpg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion-300x169.jpg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion-768x432.jpg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion-150x84.jpg 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion-750x422.jpg 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion.jpg 1140w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Tron's New Addition Takes Stablecoin Supply Beyond $1 Billion<\/figcaption><\/figure>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\"><ul><li><a href=\"#h-tron-increases-stablecoin-total-circulating-supply-to-1-241-billion\" >Tron Increases Stablecoin Total Circulating Supply To $1.241 Billion<\/a><\/li><li><a href=\"#h-terra-drop-affects-stablecoin-price\" >Terra Drop Affects Stablecoin Price<\/a><\/li><\/nav><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tron-increases-stablecoin-total-circulating-supply-to-1-241-billion\">Tron Increases Stablecoin Total Circulating Supply To $1.241 Billion<\/h2>\n\n\n\n<p>The TRON DAO Reserve boosted the supply of USDC stalecoin on the <a href=\"https:\/\/coinscreed.com\/staging\/trx-prices-increase-by-7-after-tron-buys-it-at-discount.html\">TRON<\/a> network by $260 million. The new inclusion brings Tron's USDC stablecoin supply to $1.241 billion in total circulating supply.<\/p>\n\n\n\n<p>This follows Tron's recent purchases of many <a href=\"https:\/\/coinscreed.com\/staging\/secs-peirce-says-stablecoins-regulations-must-embrace-trial-and-error.html\">stablecoins<\/a>. The TRON DAO Reserve boosted its USDC supply by $400 million on Friday, bringing the total supply to $938 million. <\/p>\n\n\n\n<p>TRON purchased 200,000,000 USDT for $197,000,000 earlier on Thursday at an average price of $0.985. &#8220;To defend the overall blockchain sector and the crypto economy,&#8221; the Tron blockchain announced.<\/p>\n\n\n\n<p>Prior to that, the TRON DAO Reserve purchased 100,000,000 USDT for $98,200,000 at an average price of $0.982. In addition, the network added $200 million to the supply of USDC and TUSD on TRON.<\/p>\n\n\n\n<p>This is in addition to Bitcoin purchases, the most recent of which is 1249.57 in Bitcoin with an average price of $29,394 and a total value of $36,730,197.<\/p>\n\n\n\n<p>The transactions coincide with the May 5 introduction of Tron's USDD stablecoin. After the first depegging from the $1 level, Terra's UST began to exhibit indicators of a price drop only a few days later. <\/p>\n\n\n\n<p>The UST stablecoin pricing has lost 99 percent of its value since the depeg on Monday.<\/p>\n\n\n\n<p>Tron's USDD stablecoin was formally listed on the <a href=\"https:\/\/coingape.com\/ust-stablecoin-rival-makes-positive-strides-amid-crash\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Huobi exchange<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> on Friday, in a recent move. <\/p>\n\n\n\n<p>This was in the midst of the Terra blockchain's unparalleled meltdown and the market's following testing of stablecoin values.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-terra-drop-affects-stablecoin-price\">Terra Drop Affects Stablecoin Price<\/h2>\n\n\n\n<p>Meanwhile, the cryptocurrency ecosystem as a whole has been in jeopardy because of <a href=\"https:\/\/coinscreed.com\/staging\/luna-ust-stablecoin-price-crash-explained.html\">Terra's recent drop<\/a>. Bitcoin's price is hovering around $30,000, down almost 50% from its all-time high of $68,990 in the last few days.<\/p>\n\n\n\n<p>Terra founder <a href=\"https:\/\/coinscreed.com\/staging\/terra-co-founder-spouse-seeks-protection-as-luna-price-collapses.html\">Do Kwon<\/a> later devised a proposal to resurrect the Terra blockchain network. Furthermore, the founder stated that their Bitcoin reserve should be used towards the rescue plan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TRON DAO Reserve increased its USDC supply by $400 million bringing the total circulating supply of stablecoin beyond $1 Billion Tron Increases Stablecoin Total Circulating Supply To $1.241 Billion The TRON DAO Reserve boosted the supply of USDC stalecoin on the TRON network by $260 million. The new inclusion brings Tron&#8217;s USDC stablecoin supply [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":26864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[6097,6048],"class_list":["post-26862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-stablecoin-2","tag-tron-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/Trons-New-Addition-Takes-Stablecoin-Supply-Beyond-1-Billion.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26862","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\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=26862"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/26862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/26864"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=26862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=26862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=26862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}