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Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster the project’s reserves. In addition to the tron purchases, the organization has been adding stablecoins and bitcoin into the mix as well.
While Terra’s Stablecoin Imploded, Tron’s Algorithmic Dollar-Pegged Crypto Project Purchases Millions Worth of Tron, Bitcoin, and Tether to Defend USDD
During the past week, all eyes have been focused on the Terra blockchain and its native crypto assets LUNA and UST. Both coins divebombed significantly in USD value and more than $46 billion in value disappeared from the crypto economy in roughly three days. Amid all the carnage, the Tron DAO Reserve has continued to purchase crypto assets for its digital currency-based forex reserves. On May 7, Bitcoin.com News reported on Tron’s founder Justin Sun and the Tron DAO Reserve purchasing $38 million in tron (TRX).
Since then the project has continued to buy crypto amid the market carnage that took place because of the UST fallout. Tron’s stablecoin USDD is also an algorithmic dollar-pegged crypto asset that has similarities to Terra’s UST. After the purchase of 504.6 million tron (TRX), the Tron DAO Reserve tweeted that the team aims to “guard the overall blockchain industry and market, prevent panic trading caused by financial crises, and mitigate severe and long-term economic downturns.” The Tron DAO Reserve (TDR) further added:
We also manage the permissions of USDD as its early custodian and ensure its price stability with reserves.
After the 504.6 million tron purchase, the TDR continued to add funds into the reserve this past week. “To safeguard the overall blockchain industry and crypto market, Tron DAO Reserve have bought 500 BTC with an average price $31,031.35 for $15,515,675,” TDR detailed on May 10. The same day, the TDR said it purchased 595,729,832 tron for $45.6 million. While the crypto market was chaotic that day the TDR team noted “USDD holds steady in today’s market volatility.”

Buying MOAR! https://t.co/DVG3sIWlic
— H.E. Justin Sun 🅣🌞🇬🇩 (@justinsuntron) May 12, 2022

The following day on May 11, the TDR team tweeted: “To safeguard the overall blockchain industry and crypto market, [TDR] have bought 1,000 BTC with an average price of $30,096 for $30,096,000.” Following that purchase, the TDR organization bought 1,467,612,695 TRX for $97 million for the reserves. The TDR then started to buy stablecoins after the $97 million worth of tron was purchased. The TDR team explained on May 12:
To safeguard the overall blockchain industry and crypto market, [TDR] have bought 100,000,000 USDT with an average price of $0.982 with $98,200,000.
The TDR team did not stop there and has continued to purchase more coins to safeguard the Tron network’s stablecoin USDD. The TDR said on May 12, it purchased 200 million USDT for $0.985 per unit which added up to around $197 million in U.S. dollars. The Tron-based stablecoin reserve team then bought 1,249.57 BTC at an average price of around $29,394.
Tron’s Justin Sun ‘Still Believes in Algorithmic Stablecoins’
Currently, on Saturday, May 14, 2022, the USDD stablecoin has a market valuation of around $272.36 million and there are 271,438,207 USDD in circulation at the time of writing. During the past day, USDD has seen $85.5 million in global trade volume and the crypto asset is 156th largest market cap.
Similar to the Terra blockchain’s mechanism of burning LUNA to produce UST, to mint a single USDD it costs $1 worth of tron to issue the crypto asset. This means it can grow as large as the market allows it as it allows anyone to mint the stablecoin in a permissionless manner. However, with the market turmoil that took place because of the UST de-pegging event, it is safe to say the crypto community is leery of algorithmic stablecoin assets.
Despite the issues this past week, Tron founder Justin Sun talked to Coindesk’s Tracy Wang and he said that he is still optimistic about the algorithmic stablecoin model. “I still believe in algorithmic stablecoins,” Sun explained to Wang during a Zoom interview.
What do you think about the USDD stablecoin project created by the Tron team? What do you think about the TDR’s purchases this week? Let us know what you think about this subject in the comments section below.



























Seven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network&#x2019;s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolste...

news.bitcoin.com

Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD

After yesterday’s brief price surge to $31,000, bitcoin stalled and retraced back to below $30,000. Most altcoins are also slightly in the red today, except for TRON and Polkadot, both of which are up by around 4%.
Bitcoin Failed at $31K
No other word can explain what transpired last week better than “massacre.” Bitcoin stood close to $40,000 on May 5 before the bears took complete control over the market and pushed it south hard.
At first, BTC lost $4,000 in a day before the negative market sentiment brought it down to $33,000 and later to $30,000. However, May 12 turned out to be the most violent day during this crash as bitcoin dumped to $25,300 (on Bitstamp), which became its lowest price tag since late December 2020.
At that point, though, the bulls reminded of their presence and drove the cryptocurrency north. In just a day, the asset recovered around $6,000 and spiked to $31,000. Nevertheless, it failed at breaching that level twice and has retraced by nearly $2,000 since then.
As a result, BTC’s market capitalization has declined on a daily scale and stands just north of $550 billion.
BTCUSD. Source: TradingView
TRX and DOT Chart More Gains
The alternative coins went through a similar, if not even more violent, rollercoaster in the past ten days. Ethereum was close to $3,000 before it plummeted to a multi-month low of $1,700. However, the second-largest crypto reacted well and touched $2,100 yesterday. Despite retracing slightly since then, ETH still stands above $2,000 as of now.
Binance Coin dropped to around $230, tapped $300 yesterday, and now trades just under $290 following a minor daily decline.
While Ripple, Dogecoin, Shiba Inu, and Litecoin are also slightly in the red, Cardano and Avalanche, have both dropped by more than 7% in a day.
TRON and Polkadot are among the very few coins in the green, with price increases of around 4% each.
The crypto market cap stands around $1.250 trillion, meaning that it’s up by $140 billion since the low on May 12. However, the metric is down by $600 billion in the past ten days.
Cryptocurrency Market Overview. Source: Quantify Crypto


While BTC, ETH, BNB, and most other altcoins have stalled since yesterday, DOT and TRX have marked some gains.

cryptopotato.com

Bitcoin Rejected at $30K, TRON and Polkadot Spike 4% (Weekend Watch)

One billion USDT will be transferred to the Ethereum blockchain, while another 20 million USDT will go to Avalanche.

cointelegraph.com

Tether to move over 1B USDT from Tron to Ethereum and Avalanche

With Terra getting in the news in the past several days for its failing stablecoin, Justin Sun reassured that the TRON DAO Reserve plans to allocate $2 billion to fight potential attacks against TRX, which seems to be the next target after LUNA.

In the past week or so, all eyes in and outside the crypto community have been on Terra and its two native cryptocurrencies – LUNA and UST. As CryptoPotato summarized earlier, UST, a stablecoin supposed to be pegged 1:1 with the USD, lost that peg, and its price dumped to a low of $0.2 on Binance.
Since it’s an algorithmic stablecoin with new tokens issued when users burn LUNA and vice-versa, this massive crash allowed speculators to capitalize on the situation by arbitraging.
This led to a mind-blowing price drop for LUNA, which as of writing these lines, trades at $1.15. This means that the token has lost roughly 98% of its value in less than a week.
Due to some similarities in how the stablecoins of Terra and TRON work (both being algorithmic), Justin Sun warned that his project could be the next target of similar attacks.
He took it to Twitter to outline the potential threat, saying that the funding rate of shorting TRX on Binance has exceeded 100% APR, later updating that the percentage has gone to nearly 400.
However, Sun reassured that the TRON DAO Reserve plans to deploy $2 billion to fight against something similar happening to his project as it did with Terra.
Sun also noted that USDD (unlike UST) has remained “very stable” amid the latest market volatility. Additionally, he said USDD has a total market cap of $271 million, while the TRON DAO Reserve holds $10 billion.


#USDD remains very stable in today’s market volatility. Current the total cap of #USDD is $271 million and total reserve in @trondaoreserve is $10 billion. pic.twitter.com/c9wwbBGsJx
— H.E. Justin Sun (@justinsuntron) May 11, 2022



Justin Sun has warned that TRON and its algorithmic stablecoin could be the next target after the recent saga with Terra and UST.


TRON DAO Deploys $2 Billion to Protect TRX Following the LUNA Crash

Amid the market meltdown, the team behind the TRON DAO Reserve announced two acquisitions for the project’s stablecoin. Additionally, they welcomed Ankr as the fourth member of the Reserve.

The past five days have been nothing short of turbulent in the cryptocurrency space, with bitcoin losing nearly $10,000 and the altcoins following suit.
While some blame the current landscape on Terra and its controversial UST stablecoin, TRON has decided to strengthen the backing of its own, which operates in a similar manner.
The TRON DAO Reserve announced earlier today the purchase of 500 BTC with an average price of $31,031 for over $15.5 million, as well as buying nearly 600,000,000 TRX for $45,641,630. Overall, the organization spent over $60 million on the pair.
It argued that the move comes in an attempt to “safeguard the overall blockchain industry and crypto market.”
Separately, Justin Sun’s brainchild said it had welcomed Ankr as the fourth member and whitelisted institution.


@ankr has officially become the fourth member and whitelisted institution of #TRON DAO Reserve. Welcome aboard 
We will strive to effectively function as the decentralized crypto reserve to consolidate the value of #USDD as a true settlement currency.  pic.twitter.com/WmaeWWqHjZ
— TRON DAO Reserve (@trondaoreserve) May 10, 2022


Apart from the TRON DAO Reserve, El Salvador also bought the dip, as reported yesterday. The nation’s president – Nayib Bukele – said the country had purchased the same exact amount (500 BTC) but at a slightly lower average price of $30,744.



Justin Sun's TRON DAO Reserve has bought the dip by accumulating in total over $60 million worth of TRX and BTC.

TRON price	$0.074926
Low - High 24H	$0.071779 - $0.075441
Market cap	$7.25B
Volume 24H	$700.16M
All time high	$0.231673 -67.67% January 5th 2018
All time low	$0.001804 4050.76% November 12th 2017
Genesis date	N/A

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