Tron founder Justin Sun prepares $2 billion cash injection to fight TRX short traders.
Key takeaways: Tron DAO Reserve has announced that it has purchased Bitcoin and TRX worth $50 million to add to USDD's reserves. USDD is currently overcollateralized to the tune of 197%. The stablecoin of USDD is now backed by 14,040.6 Bitcoin, 140 million USDT, and 1.906 billion in TRX. The purchase of Bitcoin and TRX comes when BTC retests the $28k support level....
Summary: Tron's Justin Sun wants the new USDD stablecoin 'to be the new settlement currency of crypto.' He has stated that Tron's USDD stablecoin will be overcollateralized. Tron hosts the largest supply of stablecoins, including USDT issued on its chain. Justin Sun states that USDD will learn from UST's collapse by allowing organic growth of the stablecoin with transparent and overcollateralized reserves. USDD...
Quick take: Tron DAO has purchased 504,600,250 TRX at $38.993 million as part of its reserves for the USDD stablecoin The circulating supply of the USDD stablecoin has doubled in less than 48 hours to exceed $200 million The USDD stablecoin has thus far secured three partnerships: Alameda Research, Amber Group, and Poloniex TRX's value continues to benefit from the activities surrounding the...
In the midst of the crypto crash, Tron managed to increase by more than 25% in prices. The reason for this increase is not only technical. Tron announced the launch of their algorithmic stablecoin called USDD. This announcement will not only make TRX soar in valuation soon, but increase its use case. Why should you consider buying TRX today? Is Tron USDD stablecoin...
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