Tron’s stablecoin USDD, the eighth-largest dollar-pegged token and the 57th largest by market capitalization among thousands of crypto assets, saw its tier one currency fall to almost $0.969 per coin on Monday. At 8:00 USDD was trading for $0.979 per unit while the Tren level currency fell below fiat value and its founder Justin Sun assured the public that it was a very flat lateral level currency.
Where the stablecoin has been claimed by the web portal that the USDD was down by more than 200.8% at 8:00 am post Sambhal and if one asks it is in the ratio of two hundred percent where the founder of Dron It is said that if you check all the live data on the blockchain for 24 hours, then you have got a good and accurate information and the statement was followed by another comment, which once said Do Kwon, co-founder of Terra It was when UST was losing its peg. Where we can see that this is not the first time USDD has dropped below the $1 peg as the currency went below $1 on November 10th and also a day before FTX filed for bankruptcy on November 11th This position held and slipped to $0.976 per unit on November 10 and was back in the $0.99 range on November 18 at around 1:00 am (ET).
Where Tronkey stablecoin USDD fell even more on June 19, 2022, and when it fell to $0.928 per unit 6 months ago, by the first week of July it had recovered to $1 by November 7, after which it recovered again. started slipping.
The interesting thing here is that Tron’s currency had already tapped its high position and its high level 1 month ago when it traded at $1.04 per unit on 9th November 2022 and currently has a market capitalization of $711.31 million and an estimated According to it the global trade will be worth $79 million in 24 hours.
While the stablecoin supply has increased by 0.2% over the past 30 days and since June 3, 2022, the market cap of USDD has increased by 6.6% from $667 million to $711 million today. Here we can understand that USDD is definitely moving higher and lower and sometimes it is showing loss and sometimes it is gaining but we can say that November and October has not been a good year for it and definitely the team Excess capital by team.
