ICYMI: Tron DAO injected 700 million $USDC to keep the $USDD pegged to the dollar $TRX TRX
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.Monday, June 13, has turned out to be a collapse for the entire crypto world, but for Tron DAO, things somehow got even worse.
As it became known at the very beginning of the day, USDD, the algorithmic stablecoin of Tron, temporarily lost its peg to the dollar. The event caused a corresponding reaction and affected the quotations of TRX, the network's native token. Against the backdrop of negative overall market conditions and additionally spurred by the USDD depeg, TRX dropped more than 16% in price.
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