• September 21, 2023


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Tron Founder Increases its Support to USDD Amid Loss of Parity with Dollar

ByLouis Adams

Dec 13, 2022 #Stablecoin
Reading time: < 1 minute

The price of the stablecoin USDD fell to $0.97 yesterday, the lowest level since June. Justin Sun, founder of the Tron Foundation, who was involved in the creation of the algostablecoin, has said that the asset has over-collateral (200%), and that transactions related to it can be monitored in the browser.

The loss of parity with the USD was observed against the backdrop of a neutral-negative environment in the digital asset market.

According to the Tron DAO, a 3% deviation of the price of a stablecoin from the US dollar is considered a “penetration.”

The discount was formed in June after the collapse of the Terra ecosystem but a month later, the parity has been restored.