USDD

Get USDD (USDD) all time high price, historical charts, latest news and other information.

[PRESS RELEASE – Geneva, Switzerland, 10th February 2023]
Messari, a leading provider of blockchain research and data analysis, has released its quarterly reports on the State of TRON and the State of USDD for the fourth quarter of 2022.
STATE of USDD
Their first report, “State of USDD Q4 2022,” showcases the performance of USDD, a stablecoin pegged to the US dollar, managed by the TRON DAO Reserve, and circulating on multiple blockchains, including TRON, Ethereum, and Binance. The report highlights that USDD saw continued growth in Q4 2022, in spite of the crypto winter, noting its circulation volume increased from a little over $6 billion to nearly $8 billion USD. This growth was primarily driven by the increasing demand for stablecoins as a safe haven for investment and for cross-border transactions. The report also mentions the key advantages of USDD, including its stability, low volatility, and ease of use, which have made it an attractive option for individuals and institutions alike.
Here are a few other highlights from Messari’s USDD report:

The number of wallets on TRON holding USDD slowed its growth in Q4 with only an 8% increase. Matching the 480.4% growth from Q2 to Q3 was not to be expected, though.
TRX balances in the TRON DAO Reserve remained the same from Q3 to Q4. Not including TRX, the collateral ratio for the stablecoin is below 1 at 0.87. Including TRX in the reserve wallets and deposited in the burn account, the collateral ratio is 1.7.
Partnerships with Travala, the world’s leading blockchain-based travel booking platform, which now accepts USDD for payment, other developing partnerships for utility in everyday commerce, and its multi-chain circulation all indicate the growing adoption of USDD.

STATE of TRON
The second and much longer report, “State of TRON Q4 2022,” analyzes the overall performance of TRON, a public open-sourced blockchain network using a Delegated-Proof-of-Stake (DPoS) consensus mechanism that is powered by the TRON Virtual Machine (TVM). Unlike Ethereum, TRON uses “energy and bandwidth” instead of “gas” for validations on the network and offers developers less expensive smart contract execution. Similar to Ethereum, Solidity is the programming language of TRON.
The report highlights that TRON’s leadership in the stablecoin space remained steady. Possibly related to its stable currency strength, the Commonwealth of Dominica designated TRON the official protocol for its national blockchain infrastructure and approved seven TRON-based cryptocurrencies as legal tender for everyday use in the country. Average active daily addresses increased 17.9%, with an unusual spike on December 10 of 1.3 million new accounts. Average daily transactions also increased 22.4%. What stood out the most, especially in light of the bear market moment, was that total quarterly revenue increased 25.3%.
The report also highlights the key advantages of TRON, including its scalability, low transaction fees, and user-friendly interface, which makes it an attractive option for developers and entrepreneurs. Here are a few other highlights from the TRON report:

38% more TRX was burned in December than in October. “As such, TRX continues to be deflationary,” according to the Messari report.
As of December 31, TRON nodes were distributed across more than 30 geographic locations around the globe, with ~23% (1,330 of the 5,730 TRON nodes) located in China.
Compared to TRON’s “peer group” of pioneering blockchain leaders – Ethereum, Binance, and Polygon:
TRON led the way in percentage of total revenue increase in Q4
TRON had 6x the number of daily transactions compared to Ethereum, 2x compared to Polygon, and nearly 2x compared to Binance
TRON lags behind the other three in number of protocols using its network
TRON gained 2% of the peer group’s stablecoin market share
TronLink, TRON’s recommended digital assets wallet, integrated with Android and iOS and rolled out features, including the ability to stake TRX for Energy and Bandwidth.
In Q4, the $1 billion TRON DAO Ecosystem Fund launched TRON DAO Ventures (TDV) and added it to its list of existing investment pathways.
An increase in application usage was evident in Q4, as smart contract triggers were up ~45% QoQ.

The TRON community of developers continued to grow with three seasons of Hackathons including over 2300 participants and the launch of TRON Academy with blockchain-club partnerships on seven top tier university campuses.
The report also favorably mentions that TRON joined the Ethereum Enterprise Alliance, suggesting it “could catalyze collaboration between the two networks.”
CONCLUSION
Overall, considering the state of the crypto market in Q4, Messari’s reports indicate steady strength, ongoing growth, and a bright future both for the TRON network and the USDD stablecoin. As user accounts keep increasing, powerful partnerships are being forged, and the developer community continues to grow, all signals indicate that TRON is resolved to build the future of commerce and community for every human on the planet.
About Messari
Messari provides market intelligence that drives high-conviction participation in the crypto economy.
We help professionals, builders, and communities navigate web3 by providing world-class tools and intelligence. Founded in 2018, Messari is the leading provider of crypto market intelligence products that help professionals navigate crypto/Web3 with confidence. We bring transparency and smarter qualitative and quantitative analytics to the industry by combining a global research database with a comprehensive suite of data visualization and asset discovery tools. We help drive smarter participation in crypto from individuals and institutions alike.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of February 2023, it has over 141 million total user accounts on the blockchain, more than 4.8 billion total transactions, and over $11.2 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. In May 2022, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which is the first time a major public blockchain partnering with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.
The post Messari Releases Q4 2022 State of TRON and State of USDD Reports appeared first on CryptoPotato.

[PRESS RELEASE &#8211; Geneva, Switzerland, 10th February 2023] Messari, a leading provider of blockchain research and data analysis, has released its quarterly reports on the State of TRON and the State of USDD for the fourth quarter of 2022. STATE of USDD Their first report, &#8220;State of USD...

cryptopotato.com

Messari Releases Q4 2022 State of TRON and State of USDD Reports

Seychelles-headquartered crypto exchange – Huobi Global – has been in trouble for quite some time now, which has translated into losing significant market share. The company has been mired in controversy for allegedly shutting down internal com and feedback channels and canceling various employee benefits, among other things. Its market share is also under threat from rival companies.
According to the latest study by data provider Kaiko, Huobi’s market share declined from 22% in 2020 to a mere 4% by 2022-end, thereby making it the biggest loser of the crypto bear market. Huobi’s quarterly revenue also fell by almost 98% since 2021 Q2.
Huobi in Trouble
The crypto industry is still reeling after the spectacular fallout of the FTX empire, and the community is wary of more adverse developments around other high-profile participants. Huobi, too, is the latest to see a crisis in confidence.
Over the past week alone, it recorded outflows of more than $100 million in token outflows amidst insolvency concerns. Tron Founder Justin Sun, who is a major shareholder of the crypto exchange, transferred around $100 million worth of total of USDC and USDT from Binance to Huobi to boost confidence.
The USDD depeg also turned out to be an Achilles’ heel for Sun’s crypto empire. For context, USDD, issued by the Tron DAO Reserve, aims to stabilize exchange rates for stablecoins issued on the TRX blockchain. The depeg was triggered by the FTX collapse, and since then, it has continued to hover below the $1 mark.
Despite USDD being claimed to be backed with a collateral ratio of over 200% in combination with Tron, Bitcoin, USDC, and USDT, it has failed to regain its peg. At the time of writing, USDD was trading around $0.97.
Kaiko’s research stated,
“When looking at USDD-USDT order books, which is the highest volume trading pair, we can observe that market depth on the bid and ask side has been persistently imbalanced since early December.”
Increasing FUD
It was also found that the ratio of bids to asks was under 1 for most of the past month, a trend that was indicative of a heavy sell pressure that is dragging the price down. The ratio did see minor improvement since the beginning of the year, with the bid/ask ratio climbing above 1, thereby suggesting that more bids were placed on order books.
A switch in current sentiment will only be prompted if a shift in order book structure transpires. In fact, Kaiko’s research stated that USDD can still regain its peg. But this isn’t the case for Huobi, which continues to face an “uphill challenge in regaining market share.”
Sun recently confirmed that Huobi slashed its workforce by 20% in a bid to cope with mounting losses. The exchange will undergo “structural adjustment,” expected to conclude by the first quarter of this year.
The post Huobi’s Market Share Crumbles Amid USDD Depeg appeared first on CryptoPotato.

2023 has gotten off to a rather good start for the crypto market but not for Huobi. 

Huobi’s Market Share Crumbles Amid USDD Depeg

The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cents per coin.
USDD Stablecoin Dips Down to 97 Cents per Token
There have been some slight fluctuations in USDD’s price at the start of the new year, as the stablecoin has dipped to the 97-cent range on a few occasions in 2023. After Terra’s stablecoin depegging event in May 2022, USDD started to slip slightly below the $1 peg, causing anxiety in the crypto industry. A number of other stablecoins saw similar deviations. On June 19, 2022, USDD reached a low of 92.8 cents per unit, but the stablecoin managed to regain the $1 peg, trading between 98 cents and 99 cents per unit.

In mid-Dec. 2022, USDD deviated from the $1 parity, and Tron’s Justin Sun said that the team deployed more capital. USDD has seen fluctuations in value since Dec. 11, 2022, and it reached a low of $0.971 on Dec. 13, 2022, according to coingecko.com statistics. Last week, a similar instance occurred as the USDD price dipped to $0.972 per unit on Jan. 6, 2023. Charts show that USDD’s action four days later on Tuesday, Jan. 10, 2023, indicates that the stablecoin slid to a low of $0.977 per unit during the past 24 hours.

According to the project’s Tron DAO Reserve page, USDD is over-collateralized by 202.41% compared to projects like DAI, which is 120%, and USDT and USDC at 100%. USDD is currently the eighth-largest stablecoin by market capitalization, which is $710.03 million at the time of writing on Tuesday 4 p.m. Eastern Time. The number of USDD in circulation is higher at 725,332,035.

Currently, there is roughly $33.44 million in global USDD trade volume during the past 24 hours. With USDD trading at 97 cents at times, it means that someone who owns 1,000 USDD can only get around $970 in U.S. dollars. Meanwhile, the rest of the top ten stablecoins on Jan. 10, 2023, are trading for USD values between $0.997 to $1. Statistics further show that USDD’s coins in circulation grew by 0.8% over the last 30 days.
What are your thoughts on the price fluctuations USDD has experienced at the start of 2023? Share your opinion on this topic in the comments section below.



The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cent...

news.bitcoin.com

Tron’s USDD Stablecoin Experiences Fluctuations Again, Drops Below $1 Parity in Early 2023

A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier. USDD, a stablecoin created by the founder of the Tron Blockchain, Justin Sun, has been losing its peg to the U.S. dollar.
According to Coingecko, USDD is currently trading at $0.9805. Although USDD was designed to be pegged to the dollar like other stablecoins, its value has fluctuated between $0.9806 and $0.9798 during the past week.
As this developed, Sun’s crypto exchange, Huobi Global, joined the ranks of crypto companies that started this year with job cuts.
Adding to the pressure is the fear, uncertainty and doubt surrounding the Huobi exchange itself. Recent social media posts regarding the exchange shows that Huobi has higher withdrawals than deposits which strengthened fears of a possible halting of withdrawals. 


How Does USDD Stablecoin Work?  
USDD is an algorithmic stablecoin which uses complex arithmetic to keep the price pegged to a dollar. According to Tron DAO’s blog post about the inner workings of USDD, the stablecoin is not considered de-pegged by the system when it drops lower or goes higher than $1. 
Looking at the charts, the stablecoin is consistently testing its 3% leeway set by the system. Although the system itself does not consider USDD depegged, this consistency is worrying as any further drop might cause more troubles – or eventually led to the fate that befell UST  when it crashed.
With investors skeptical of USDD since its inception, Sun has not done anything as of now. This is clearly because of the current situation at Huobi, leaving the reins to the system that  govern USDD. 

 Justin’s $1.1B withdrawal:
– It was speculated that this was used to fund Huobi’s operations
– Likely untrue, the amount is way too large to cover burn rate
– Even Twitter running at its most wasteful state only burns at $4mil/month
– Whispers of him cashing out
4/ https://t.co/DXwtdjRtFP
— Rock  (@DataaRocks) January 6, 2023
Huobi’s Situation And What It Means For USDD
Sun, who is advisor to Huobi, has been said to be withdrawing more than a billion dollars which further strengthened the FUD surrounding the exchange. Speculators, however, believe that the withdrawn funds would be used for the operations of Huobi. 
This might be true, as the exchange might be burning through its liquidity as withdrawals continue to mount up due to recent negative developments. Any negative news on Huobi might have an effect on the peg of USDD and USDJ. 




Not to mention that both stablecoins are limited in where they can be bought and sold. According to CoinCodex, USDD is tradable on 11 exchanges while USDJ is tradable on three. Both can be traded on Huobi and Poloniex.

At @HuobiGlobal, we believe that the key to success in the world of cryptocurrency is to “Ignore FUD and Keep Building.”
— H.E. Justin Sun (@justinsuntron) January 6, 2023
With Sun being one of the shady characters in the crypto, it remains to be seen whether his “ignore the FUD” strategy will work. But with Huobi’s worsening FUD, the exchange becoming the next FTX would definitely devastate many investors and send shockwaves to the entire crypto space.
-Featured image by PortalCripto


A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier. USDD, a stablecoin created by the founder of the Tron Blockchain, Justin Sun, has been losing its peg to the U.S. dollar. According to Coingecko, ...

USDD price	$0.991638
Low - High 24H	$0.986064 - $0.994885
Market cap	$719.46M
Volume 24H	$21.54M
All time high	$1.04 -5.05% November 9th 2022
All time low	$0.928067 6.80% June 19th 2022
Genesis date	N/A

Recently viewed

Trending

USDD (USDD)

Performance

USDD News

Quick stats