{"id":37454,"date":"2024-09-09T10:26:13","date_gmt":"2024-09-09T10:26:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/htx-to-delist-multiple-usdd-trading-pairs-despite-concerns-over-stablecoin-backing\/"},"modified":"2024-09-09T10:26:13","modified_gmt":"2024-09-09T10:26:13","slug":"htx-to-delist-multiple-usdd-trading-pairs-despite-concerns-over-stablecoin-backing","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/htx-to-delist-multiple-usdd-trading-pairs-despite-concerns-over-stablecoin-backing\/","title":{"rendered":"HTX to Delist Multiple USDD Trading Pairs Despite Concerns Over Stablecoin Backing"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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The former Huobi,<\/a> HTX, has declared its intention to eliminate a number of USDD trading pairs. On September 12, 2024, 14 trading pairs\u2014including DOGE\/USDD, NEAR\/USDD, and EOS\/USDD\u2014will be delisted. This modification was made soon after significant collateral withdrawals by the TRON DAO Reserve raised doubts about the USDD\u2019s stability.<\/p>\n

Upcoming Trading Changes and User Advisory<\/h2>\n

In its September 9 press release, HTX advised users to cancel any open orders involving the affected pairs and explore alternative trading options. While the exchange did not specify the exact reasons for the decision, it emphasized that the move aims to provide users with a \u201cbetter trading experience.\u201d HTX\u2019s action highlights a growing focus on the stability and security of assets amid recent developments surrounding USDD.<\/p>\n

The decision comes at a critical time, as market scrutiny around USDD has intensified. In August, the TRON DAO Reserve withdrew approximately $750 million in Bitcoin, significantly reducing the amount of Bitcoin backing the stablecoin. Following this withdrawal, USDD\u2019s backing now largely relies on TRX, TRON\u2019s native cryptocurrency.<\/p>\n

TRON founder Justin Sun addressed the matter by justifying the reserve\u2019s activities in response to worries. Noting that it was not \u201cvery efficient\u201d to maintain a collateralization rate above 300 percent, he assured consumers that the USDD is still stable. According to Sun, the stablecoin functions similarly to the DAI of MakerDAO, enabling the withdrawal of surplus collateral as long as the prerequisites of the system are fulfilled.<\/p>\n

Notwithstanding these promises, the market\u2019s continued caution is reflected in HTX\u2019s decision to delist USDD pairs, as investors continue to ask questions about the stablecoin\u2019s future.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) The former Huobi, HTX, has declared its intention to eliminate a number of USDD trading pairs. On September 12, 2024, 14 trading pairs\u2014including DOGE\/USDD, NEAR\/USDD, and EOS\/USDD\u2014will be delisted. This modification was made soon after significant collateral withdrawals by the TRON DAO Reserve raised doubts about […]<\/p>\n","protected":false},"author":35,"featured_media":37455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37454"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37454"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37454\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37455"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}