{"id":13152,"date":"2022-07-05T12:06:25","date_gmt":"2022-07-05T12:06:25","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/trons-usdd-regains-stability-after-tapping-an-all-time-low-at-0-92-altcoins-bitcoin-news\/"},"modified":"2022-07-05T12:06:25","modified_gmt":"2022-07-05T12:06:25","slug":"trons-usdd-regains-stability-after-tapping-an-all-time-low-at-0-92-altcoins-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/trons-usdd-regains-stability-after-tapping-an-all-time-low-at-0-92-altcoins-bitcoin-news\/","title":{"rendered":"Tron’s USDD Regains Stability After Tapping an All-Time Low at $0.92 \u2013 Altcoins Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Between June 13 and June 27, or roughly two weeks, Tron\u2019s stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June 19. During the past seven days, USDD has managed to jump back to the $0.98 to $0.99 region while reaching $1 on July 3.<\/strong><\/p>\n

Tron\u2019s USDD Stablecoin Climbs Back Above $0.98 per Unit<\/h2>\n

The stablecoin USDD<\/a>, issued on top of the Tron network, saw its value slip below the typical $1 parity it held prior to June 13. Prior to that day, the stablecoin\u2019s chart looked similar to an electrocardiogram flatline holding a stable value of around $0.994 to $1.<\/p>\n

Between June 13th<\/a> to the 15th, however, USDD\u2019s fiat value slipped to a low of $0.964 per unit. At that time, the Tron Reserve DAO collateralized the stablecoin with crypto assets such as tron (TRX)<\/a> and usd coin (USDC)<\/a>. During that time, bitcoin (BTC<\/a>) and a number of other top crypto assets slid significantly in value.<\/p>\n

On June 18, the crypto economy shuddered and around 2 p.m. (ET), BTC<\/a> hit a 2022 low at $17,593 per unit. The following day, Tron\u2019s USDD hit the stablecoin\u2019s all-time low at $0.928 per unit.<\/p>\n

\"Tron's<\/p>\n

Eight days later, on June 27, USDD managed to get back to the $0.98 to $0.99 range, and it\u2019s been trading for that price ever since, with one brief spike to $1 per unit on July 3. While the stablecoin had a two-week run below the normal rate, the Tron Reserve DAO continued to add more collateral to the project.<\/p>\n

\"Tron's<\/p>\n

At the time of writing, the project\u2019s reserve page<\/a> notes that there\u2019s 723.32 million USDD in circulation. The web page details that USDD is overcollateralized by 313.5% at the time of writing, with four different crypto assets backing the project.<\/p>\n

Assets include 10.874 billion tron, 14,040.6 bitcoin, 140 million tether, and 990 million usd coin. When USDD saw a lower price value than usual for two weeks during the crypto market downturn, a couple of other stablecoins also dropped to lower values than usual.<\/p>\n

Top 9 Stablecoins by Market Cap Remain Stable<\/h2>\n

Bitcoin.com News reported<\/a> on Abracadabra\u2019s stablecoin MIM slipping to $0.91 and the Waves stablecoin neutrino usd (USDN) sliding to $0.931 per unit. While USDD has held a stable price range over the last week, USDN is exchanging hands for $0.987 while MIM is swapping for $0.993.<\/p>\n

The Tron Reserve DAO has continued to bolster<\/a> the stablecoin\u2019s backing with reserves and it\u2019s been purchasing back<\/a> USDD with assets as well. Stablecoins have all seen instances<\/a> where the value of the coin is below the expected $1 parity. However, stablecoins like nubits, empty set dollar, titan, and basis cash have all failed and the recent terrausd (UST) implosion<\/a> has caused a lot of concern and worries about the possibility of more stablecoin failures.<\/p>\n

The concern has been directed at some of the largest stablecoins in the industry and many of the smaller stablecoin capitalizations with less liquidity. Meanwhile, the top nine stablecoins<\/a> in terms of market valuation, have been stable this week trading for $0.98 to $1 per token.<\/p>\n

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\nTags in this story
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$1 Parity<\/a>, Altcoins<\/a>, basis cash<\/a>, defend the peg<\/a>, empty set dollar<\/a>, H.E. Justin Sun<\/a>, justin sun<\/a>, nubits<\/a>, overcollateralization<\/a>, Stablecoin<\/a>, Stablecoins<\/a>, Terra<\/a>, Terra UST<\/a>, TITAN<\/a>, Tron (TRX)<\/a>, Tron Blockchain<\/a>, Tron DAO<\/a>, TRON DAO Reserve<\/a>, trx<\/a>, usd coin (USDC)<\/a>, USDD<\/a>, USDD Reserves<\/a><\/div>\n<\/div>\n

What do you think about USDD climbing back to the $0.98 to $0.99 region? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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