USDD stablecoin loses its peg to the dollar

This week, many digital assets are losing ground. The USDD stablecoin has also faced the consequences of high volatility, which is disrupting the stablecoin ecosystem in general.

Justin Sun, CEO of the Tron ecosystem, said that there is no reason to worry, as USDD can easily maintain its peg to the dollar: «This situation has developed amid negative funding of TRX tokens on the Binance crypto marketplace. This adversely affects many algorithmic stablecoins, but we can handle it.»

At the time of writing, USDD is trading at $ 0.9797. The coin is currently behaving relatively steadily, but the situation may worsen if an optimal balance is not found.

To safeguard the overall blockchain industry and crypto market, TRON DAO Reserve have increased 650,000,000 #USDC supply on #TRON. Currently USDC supply on TRON has reached $ 2.5 billion.

— TRON DAO Reserve (@trondaoreserve) June 13, 2022

According to San, the temporary absence of a USDD peg should not be a cause for concern «because it is not an extreme case.» The Tron ecosystem promises to solve the problems with the USDD within 24 hours, and Tron has already allocated $ 650 million for this purpose.