Ammara
Over $2.2 billion in reserves, a guarantee for 723 million $USDD, have been disclosed by Tron DAO.
By continuously adding diverse assets, #TRONDAOReserve is currently holding over $2.2 billion as reserve, a guarantee for 723 million $USDD.
💪 We keep performing our functions to provide the best #decentralized #StableCoin – #USDD.
— TRON DAO Reserve (@trondaoreserve) July 7, 2022
Tron Dao’s $2.2B reserves show that Justin Sun Dao is in a solid position to avoid the USDD depeging.
Between June 13 and June 27, Tron’s stablecoin USDD fell lower than the $1 parity and dipped to a low of $0.928 per unit on June 19. Over the previous week, the USDD exchange rate has climbed to the range between $0.98 and $0.99, hitting $1 on July 3.
However, the value of the USDD’s fiat currency dropped to an all-time low of $0.964 per unit between June 13 and June 15. At that time, the Tron Reserve DAO kept buying USDD to avoid de-pegging. During the same period, the value of Bitcoin (BTC) and a number of other leading cryptocurrencies fell significantly.
The crypto sector had a tremor on June 18, and Bitcoin reached a low price of $17,593 per unit. The price of one unit of Tron’s stablecoin USDD reached an all-time low the next day, falling to $0.928.
After eight days, on June 27, USDD managed to go back to the range of $0.98 to $0.99, and it has been trading at that price ever since, with the exception of a brief rise to $1 per unit on July 3. When the stablecoin was trading at a rate below its regular level for two weeks, the TRON DAO Reserve continued to provide further collateral to the project. At the time of writing, USDD is worth $0.9922, down 0.07% in the past 24 hours.
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