Tron Falls Sharply As Sun Scrambles To Save Stablecoin
Tron price momentum faded over the weekend, and the price has dropped by more than 40% since then. The cryptocurrency is presently having difficulty gaining traction. Tron Falls AS USDD Depegs TRX has dropped 19% and is now trading at $0.05, its lowest level in 15 months. In the last 24 hours, the token has also been the worst performer among the top 50 cryptocurrencies. The token’s weakness follows the loss of the USDD algorithmic stablecoin’s dollar peg, despite founder Justin Sun’s repeated efforts to keep the peg. In the last 24 hours, the token’s entire market....
Related News
After the Terra UST fallout and the current crypto market volatility, many eyes have been focused on the Tron-based algorithmic stablecoin USDD. On June 13, the crypto asset tron (TRX) dropped significantly in value and Tron’s founder Justin Sun spoke about traders shorting the digital currency. Sun explained that the Tron DAO Reserve would deploy $2 billion to “fight them” and said he didn’t think the shorters could last 24 hours. Furthermore, the stablecoin USDD took a small dive on Monday, dropping to $0.977 per unit during the crypto market carnage.
....
Tron continues to showcase its relevance and position as one of the leading blockchains in the broader cryptocurrency sector as activity on the network surges sharply. In terms of USDT transfers, the network is making the headlines, recording significant addresses involving the stablecoin leader. 41 Million New USDT Minted On Tron As Tron gains traction, […]
On May 5, Tron’s algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to back the algorithmic stablecoin, as the project aims to leverage a decentralized forex reserve similar to Terra’s UST reserves. Tron DAO Reserve and Justin Sun Reveal a $38 Million TRX Purchase Terra’s UST reserve system is becoming a popular scheme, and Tron’s USDD stablecoin project is following the pattern.....
With Tron’s user base and adoption rising sharply in the dynamic blockchain sector, the leading network is taking the spotlight in the stablecoin market. In 2025 alone, the total supply count of Tether’s USDT stablecoin recorded on the network has experienced a massive surge. USDT Supply On The Tron Network Skyrockets Tether’s USDT, the largest […]
Tether, the largest stablecoin by market cap, has reached a milestone by issuing 30 billion USDT on top of the Tron blockchain. While the stablecoin is now present on several chains, including BSC (Binance Smart Chain) most of it is now on Tron due to the blockchain’s low transaction fees, which make using it easy and cheap. Tether Reaches 30 Billion USDT Issued on Tron Tether, the biggest stablecoin in the market, has reached a volume of 30 billion USDT issued as TRC20 tokens on the Tron blockchain, being this the highest the stablecoin has issued on top of any chain so far. The....