USDD

Get USDD (USDD) latest news and information from trusted cryptocurrency sources.

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. 

cryptopotato.com

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, ...

newsbtc.com

Why Justin Sun’s Stablecoin USDD Is Struggling To Maintain Its Dollar Peg

Tron’s USDD stablecoin fell below $0.97 today, and founder Justin Sun has tried to reassure users by saying that he is “deploying more capital” to defend the peg.
Tron’s USDD Stablecoin Depegs To Lowest Value Since June 2022
Tron’s Decentralized USD (USDD), which had already been struggling with its peg this last month as it stayed below $1, has observed further destabilization today as it touched lows not seen since June.
Below is a chart that shows the trend in the stablecoin’s price (against USD) over the last 24 hours:


As the above graph shows, USDD declined to as low as below $0.97 earlier in the day, but has since seen some recovery to around $0.977.

Justin Sun, the founder of TRON, has come forth and tried to reassure users by pointing out that the stablecoin is secured by a collateral ratio of more than 200%.
Additionally, Sun also informed users that he is “deploying more capital” to defend the peg.

Deploying more capital – steady lads https://t.co/55pra5wQMi https://t.co/CexyaBy2hx
— H.E. Justin Sun (@justinsuntron) December 12, 2022

Before the Tron founder added these extra deposits, the collateral ratio of the stablecoin was around 200.71%. Now, the crypto has become even further overcollateralized as the ratio has improved to 200.88%.



While USDD seems to have stopped from further depegging for now, it’s still unclear whether the coin will be able to regain $1 anytime soon.
Since the collapse of the crypto exchange FTX, the stablecoin hasn’t been able to stabilize its peg. Other stables also saw turbulence from the crash, but the depegging was only temporary in their case, as they were back up quickly enough.
Decentralized USD is a stablecoin issued by the TRON DAO reserve, and is collateralized by the organization using multiple assets like Bitcoin, Tron, and USDT.
The crypto’s model is similar to Terra USD (UST), a stablecoin that lost its peg and collapsed back in May of this year (an event that would kick off a market-wide crash).
After USDD slipped further away from its $1 peg today, there have been speculations in the crypto community on whether the stablecoin is heading towards a similar fate to UST.
If USDD does indeed end up following the path of UST, the domino effect on the market from its collapse is unlikely to be on the same level as Terra USD’s, given that the market cap of USDD is currently nowhere near what UST was just before it went down.


Tron&#8217;s USDD stablecoin fell below $0.97 today, and founder Justin Sun has tried to reassure users by saying that he is &#8220;deploying more capital&#8221; to defend the peg. Tron&#8217;s USDD Stablecoin Depegs To Lowest Value Since June 2022 Tron&#8217;s Decentralized USD (USDD), which had...

bitcoinist.com

Tron’s USDD Slips Under $0.97, Justin Sun Is “Deploying More Capital” To Defend Peg

The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project is overcollateralized by 200.8% at the time of writing. 
Justin Sun Tells Crypto ‘Lads’ to Hold ‘Steady’ as USDD Team Deploys More Capital
Tron’s stablecoin USDD is the eighth largest dollar-pegged token and it’s ranked 57 in terms of the largest market capitalizations among thousands of crypto assets. On Monday, Tron’s stablecoin dropped down to $0.969 per token at around 2:51 a.m. (ET) and at around 8:00 a.m., USDD is exchanging hands for $0.979 per unit. While the Tron stablecoin dropped in fiat value, Tron founder Justin Sun reassured the public that USDD was an overcollateralized stablecoin by sharing the URL usdd.io.

Deploying more capital – steady lads
— Do Kwon  (@stablekwon) May 9, 2022

The web portal dedicated to the Tron stablecoin claims USDD is overcollateralized by 200.8% at 8:00 a.m. (ET) on Dec. 12. “In case anyone asks about [USDD], it is 200% collateralized ratio on usdd.io,” Sun tweeted. “You can check all live data on blockchain 24*7,” the Tron founder added. Following that statement, Sun tweeted out another comment that was once said by Terra’s co-founder Do Kwon when UST was losing its peg. Sun wrote:
Deploying more capital – steady lads.
This is not the first time USDD has dropped below the $1 peg as the stablecoin dropped below $1 on Nov. 10, 2022, the day before FTX filed for bankruptcy protection on Nov. 11. On Nov. 10, USDD slipped to $0.976 per unit and it returned to the $0.99 range on Nov. 18, at around 1:00 p.m. (ET).

Tron’s stablecoin USDD sunk even lower on June 19, 2022, when it dipped down to $0.928 per unit six months ago. By the first week of July, it had regained the $1 parity all the way up until Nov. 7, 2022, when it started to deviate again.

Interestingly, the Tron stablecoin tapped an all-time high just over a month ago, when it tapped $1.04 per unit on Nov. 9, 2022. At the time of writing, USDD has an overall market cap of around $711.31 million, and an estimated $79 million in 24-hour global trade volume.
The stablecoin’s supply has increased by 0.2% during the last 30 days. Since June 3, 2022, USDD’s market cap has grown by 6.6% from $667 million to today’s $711 million. Tron’s stablecoin is listed on a myriad of centralized and decentralized trading platforms with Huobi being the most active exchange on Dec. 12.
What do you think about the Tron-based stablecoin deviating away from the $1 parity this week? Let us know what you think about this subject in the comments section below. 


The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project is overcolla...

Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital


The price of the TRON USDD algorithmic stablecoin has dropped to $0.97, losing even more of its dollar parity. This could potentially put unwanted stress on USDD-paired DeFi pools on Curve.



At press time, USDD makes up around 82% of the USDD/3CRV pool reserves under Curve Pool DeFi protocol, down from a previous figure of 86%. The depeg is detrimental for swapping other DeFi assets like DAI or USDC in exchange for USDD.



Reprinted from curve.fi



USDD Going the Wrong Way



USDD has struggled to maintain its parity with the dollar since falling below it on Oct. 16. It rapidly spiked to $1.04 on Nov. 14 but immediately fell back under. 



USDD Price Chart by BeInCrypto



On Dec. 12, it fell to a local low of $0.97 before rebounding to $0.98.



Meanwhile, TRON’s TRX asset is also trading in the red, showing a price decline of over 3.5% on the day.



TRX Price Chart by BeInCrypto



Justin Sun Announces More Capital Deployment



In response to the depeg, founder Justin Sun announced that more capital has been deployed to bring help back the peg. According to the link shared by the founder, a wallet addressed to him transferred close to $1,000,000 worth of TUSD.



Sun also claimed on Twitter that USDD is 200% overly collateralized by numerous popular digital assets.



The Terra ecosystem collapse earlier this year was one of the largest disasters the cryptocurrency industry has seen in recent memory. Since then, all significant stablecoins, like Tether, have been stressing over-collateralization. Since the FTX contagion, concerns have erupted that another algorithmic stablecoin crisis similar to the Terra Luna crash could ensue.



Notably, over the last couple of weeks, TRON has recorded an inflow of $1 billion USDT. In December, the TRON network also adopted the 79th Committee proposal, which will modify two network parameters.




Tron has seen significant USDT inflows over the past 2 weeks. In total, over $1 Billion of USDT have entered the chain pic.twitter.com/bbB6XRruvi— DefiLlama.com (@DefiLlama) December 1, 2022




TRON has also topped the list of the most active networks in the past week. 
The post TRON USDD Stablecoin Slips Further From Dollar, Threatening Curve Pool appeared first on BeInCrypto.


The price of the TRON USDD algorithmic stablecoin has dropped to $0.97, losing even more of its dollar parity. This could potentially put unwanted stress on USDD-paired DeFi pools on Curve.
The post TRON USDD Stablecoin Slips Further From Dollar, Threatening Curve Pool appeared first on BeInCrypto.


beincrypto.com

TRON USDD Stablecoin Slips Further From Dollar, Threatening Curve Pool

Tether follows TRON's USDD stablecoin in coming unstuck amid suspicions of shorting involving FTX and Alameda Research.

cointelegraph.com

Analysts urge calm as Tether depegs from USD, Bitcoin loses $17K rebound

Geneva, Switzerland / November 8, 2022 / – Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem – State of TRON Q3 2022 and State of USDD Q3 2022. Both reports indicated positive conclusions about the stable and secure strength of USDD and the TRON network as a whole.
The USDD report marked the first time Messari provided market intelligence in quarterly report form on the over-collateralized stablecoin issued by the TRON DAO Reserve (TDR), custodian of USDD, currently with nine whitelisted members. USDD is backed by select crypto assets, including BTC, USDT, USDC, and TRX. The State of USDD report includes insights on performance, issuance, deposits, reserve balance, user adoption, transactions, price analysis, and total value locked. Readers can also get qualitative analysis on subjects such as monetary policy and the peg stability module (PSM).
Key insights on the USDD Report include:

After rapid adoption in Q2, supply growth stalled in Q3, increasing only 0.2% to 725 million. However, the number of wallets holding the currency increased nearly 5X in Q3.
The stablecoin remains well backed by non-native currencies with a collateral ratio of 1.9 at the quarter’s end.
After the UST collapse and stablecoin depegging in June, USDD maintained a tight peg and launched Peg Stability Module (PSM) using USDT, USDC, TUSD, and USDJ.

The State of TRON Report was also the first edition of quarterly coverage from Messari. This report highlights performance analysis, ecosystem development, and qualitative analysis. Readers can also get an overview of TRON’s TVL, Strategy and Challenges, and a forecast of the road ahead.
Key insights on the TRON Report include:

TRON network activity exhibited continued strength after the launch of USDD in May.
Since May, the total amount of stake and total engaged stake has increased drastically.
The 61% growth in TVL was driven by three unique wallets depositing approximately $1.6 billion in various assets.
The TRON DAO Reserve announced the crypto-native market maker Wintermute as its ninth whitelisted member, giving it the authority to maintain the peg of USDD.
The GreatVoyage-v4.5.2 upgrade released in Q3 is aimed at improving node synchronization and transaction throughput.
If current activity persists and USDD expands across the ecosystem, TRON’s Resource Model that catalyzes deflation may be enhanced by the demand for and use of USDD.

Both reports noted the stabilizing effect of USDD’s collateralization, adoption, and future use cases. The TRON DAO community is thrilled with the encouraging conclusions from the Messari research team.

 
 
 
 

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Geneva, Switzerland / November 8, 2022 / &#x2013; Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem &#x2013; State of TRON Q3 2022 and State of USDD Q3 2022. Both reports indicated positive conclusions about the stab...

Messari Releases Q3 2022 State of TRON and State of USDD Reports

[PRESS RELEASE – Geneva, Switzerland, 7th November 2022]
Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem – State of TRON Q3 2022 and State of USDD Q3 2022. The two most significant highlights in the comparison of Q3 with Q2 2022 were the 480.4% increase in the number of holders of USDD and the 71% increase in the Total Value Locked of TRX. Both reports indicated positive conclusions about the stability and secure strength of USDD and the TRON network as a whole.
State of USDD
The USDD report marked the first time Messari provided market intelligence in a quarterly report on the over-collateralized stablecoin issued by the TRON DAO Reserve (TDR). USDD is backed by select crypto assets, including BTC, USDT, USDC, and TRX. The State of USDD report includes insights on performance, issuance, deposits, reserve balance, user adoption, transactions, price analysis, and total value locked. Readers can also get qualitative analysis on subjects such as monetary policy and the peg stability module (PSM).
Key insights on the USDD Report include:

After rapid adoption in Q2 2022, supply growth stalled in Q3 2022, increasing only 0.2% to 725 million.
However, the number of wallets holding the currency increased nearly 5X in Q3 2022.
The stablecoin remains well backed by non-native currencies with a collateral ratio of 1.9 at quarter’s end.
After the UST collapse and stablecoin depegging in June 2022, USDD maintained a tight peg and launched Peg Stability Module (PSM) using USDT, USDC, TUSD, and USDJ.

It is worth noting that since USDD was launched in May 2022, the supply has grown to over 725 million with almost all of its growth occurring in the first two months. The Messari Report pointed out that there is currently over 36 billion USDT circulating on the TRON blockchain, which they commented “leaves a lot of room for growth for USDD.” The Binance and Ethereum blockchains now also carry USDD. TRON Founder H.E. Justin Sun envisioned USDD offering the opportunity to access currency pegged to the US dollar for anyone and anywhere.
Based on the first five months of its existence, that aspiration appears to have a solid start toward becoming reality.
Given that the TRON DAO Reserve has to deposit and stake an equivalent amount of TRX as collateral in order to mint new USDD, the Messari Report also noted that “TRX holders are likely the greatest beneficiaries of USDD adoption, given the potential reduction in circulating supply should adoption grow.” A growing number of partnerships, like TRON becoming the National Blockchain of Dominica and the Huobi Global Advisory Board promising to leverage USDD in pairs with all crypto on their exchange, will likely result in greater user adoption of USDD over the coming years.
State of TRON
The State of TRON Report was also the first edition of quarterly coverage from Messari. This report highlights performance analysis, ecosystem development, and a qualitative analysis. Readers can also get an overview on TRON’s TVL, Strategy and Challenges, and a forecast of the road ahead.
Key insights on the TRON Report include:

TRON network activity exhibited continued strength after the launch of USDD in May 2022.
Since May 2022, the total amount of stake and total engaged stake has increased drastically.
The 61% growth in TVL was driven by three unique wallets depositing approximately $1.6 billion in various assets.
The TRON DAO Reserve announced the crypto-native market maker Wintermute as its ninth whitelisted member, giving it the authority to maintain the peg of USDD.
The GreatVoyage-v4.5.2 upgrade released in Q3 2022 is aimed at improving node synchronization and transaction throughput.
If current activity persists and USDD expands across the ecosystem, TRON’s Resource Model that catalyzes deflation may be enhanced by the demand for the use of USDD.

The Messari Report offered this complimentary insight in their Ecosystem and Development Overview of TRON:
“The majority of Layer-1 blockchains and their respective ecosystems have experienced declines in the first half of 2022. For most, Total Value Locked (TVL) declined further in Q3 2022, due to a continuation in negative market sentiment and looming regulatory concerns. TRON, however, managed to insulate itself from adverse market conditions by growing its TVL by 61% QoQ.”
Both reports noted the stabilizing effect of USDD’s collateralization, adoption, and future use cases, as well as the remarkable strength of TRON TVL. The TRON DAO community is thrilled with the encouraging conclusions from the Messari research team.
About TRON DAO
TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.
The post Messari Releases Research Reports on the TRON Ecosystem and the Stablecoin USDD appeared first on CryptoPotato.

[PRESS RELEASE &#8211; Geneva, Switzerland, 7th November 2022] Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to the TRON ecosystem – State of TRON Q3 2022 and State of USDD Q3 2022. The two most significant highlights in the compariso...

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