{"id":30225,"date":"2022-06-17T13:15:32","date_gmt":"2022-06-17T17:15:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=30225"},"modified":"2022-06-17T13:15:41","modified_gmt":"2022-06-17T17:15:41","slug":"tron-boost-reserves-amid-usdd-de-pegging","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tron-boost-reserves-amid-usdd-de-pegging\/","title":{"rendered":"TRON Boost Reserves Amid USDD De-pegging"},"content":{"rendered":"\n

The TRON DAO has been raising its stablecoin holdings<\/a> to protect the blockchain from crashing while the USDD remains de-pegging from its dollar value.<\/p>\n\n\n\n

\"<\/figure>\n\n\n\n

The reserve raised its supply of USDC tokens by 300 million\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> on the blockchain. The current total supply stands at $2.8 billion.<\/p>\n\n\n\n

USDD which was launched earlier this year was meant to be an algorithmic stablecoin. However, to avoid a crash like Terra's UST, it overcollateralized.<\/p>\n\n\n\n

USDD Reached 324.53% Amid Reserve Increase<\/h3>\n\n\n\n

The USDD's collateralization rate reached 324.53% when the reserve was increased. Following the news, the token's price marginal increase was seen.<\/p>\n\n\n\n

TRX is currently trading at an average price of $0.060 at the time of writing. The price of the token has increased by 1.57% in the last 24 hours.<\/p>\n\n\n\n

TRON's stablecoin is presently trading at 0.97. In the last 24 hours, the price has risen by 0.19%.<\/p>\n\n\n\n

This step was done to protect the USDD against further depegging.<\/p>\n\n\n\n

The price of the TRON token had dropped by nearly 20%<\/a> earlier this week. One of the causes of the current decline is the de-pegging of the stablecoin.<\/p>\n\n\n\n

However, the token was the largest gainer last month, largely due to USDD's hefty 30% dividend.<\/p>\n\n\n\n

The blockchain previously announced<\/use><\/svg><\/span><\/a> the withdrawal of 3 billion TRX from the Cefi exchange and Defi lending platform.<\/p>\n\n\n\n

TRON blockchain is attempting to restrict liquidity for short-sellers and closing their positions by making these withdrawals. <\/p>\n\n\n\n

TRON aims to boost reserve to $ 3 billion<\/h3>\n\n\n\n

The blockchain's CEO, Justin Sun, has hinted that the $2.8 billion reserves might grow to $3 billion. This isn't the first time that millions of dollars have been added to the reserve to save the stablecoin.<\/p>\n\n\n\n

Earlier this month, another $100 million was placed into the reserve. This was TRON's first transfer to prevent its stablecoin from succumbing to the same fate as TERRA LUNA.<\/p>\n\n\n\n

USDD's market capitalization has increased by 126% in the last 30 days, according to CoinGecko data.<\/p>\n","protected":false},"excerpt":{"rendered":"

The TRON DAO has been raising its stablecoin holdings to protect the blockchain from crashing while the USDD remains de-pegging from its dollar value. The reserve raised its supply of USDC tokens by 300 million on the blockchain. The current total supply stands at $2.8 billion. USDD which was launched earlier this year was meant […]<\/p>\n","protected":false},"author":32,"featured_media":29176,"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-30225","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\/06\/tron-usdd.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30225","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\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=30225"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/30225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29176"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=30225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=30225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=30225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}