Justin Sun’s Stablecoin USDD Price Mobility: Another Crash Coming?

Justin Sun’s algorithmic stablecoin USDD lost value again and for $0.96 fell.

Tron native algorithmic stablecoin of the blockchain, crypto exchange FTXIt failed to regain value against the US dollar after the collapse of . As a result Tron (TRX) fell over 2% in one hour and 5% in the last 24 hours.

Justin Sun’s Stablecoin USDD Added To The Drops In Stablecoins

Etherscan data by Justin Sun USDDmillions to fix TUSD It shows that it has been transferred. The USDD stablecoin suddenly jumped from $0.970 to $0.976, but it still continues to lose value.

WAVES stablecoin of ecology USDN, had experienced a sharp decline in the last 12 hours. Its current price is only $0.78. The South Korean exchange had previously stated that WAVES was included in the alert list due to the USDN being unpegged and its volatility.

USDD claims to have 200% collateral of $1,455 billion.

However, the official website indicates that TRX is worth about $825 million, but the actual value is $578 million, which indicates that approximately $476 million of TRX is in burning contract and is illiquid.

The exact reason for this decline is unknown. However, even this price volatility in USDD due to the collapses in the past is enough to scare investors.

Sun, the founder of the TRX altcoin, is also allegedly the secret owner of the cryptocurrency exchange Huobi. Huobi and Sun’s exchange Poloniex said in a statement today that they would increase their cooperation.

Sun had raised the possibility that Poloniex and Huobi might merge in the future. However, Huobi rejected the merger plans, and Sun explained that the two exchanges “have no plans to merge yet.”

Leon Li, the previous majority shareholder of Huobi Global, sold his shares to a firm called About Capital Management in October 2022.

Sun again denied that he was behind the acquisition, but quickly became an advisor to Huobi, raising suspicions that he was controlling About Capital.

However, Sun recently collaborated with the island nation of Dominica and announced that it would help this country launch its exclusive Dominica Coin (DMC) altcoin.

*Not investment advice.