TRON DAO Reserve buys $61M worth of BTC and TRX tokens to secure USDD
The TRON DAO Reserve has acquired BTC and TRON tokens to secure the USDD algorithmic stablecoin. The organization bought 500 BTC at an average price of $31K worth more than $15.5M.
The head of the Tron Foundation, Justin Sun, announced the launch of USDD in April, it took place on May 5th. According to Sun, TRON DAO Reserve will set a “risk-free” annual interest rate of 30% for the return on the asset.
USDD, according to the algorithm of its work, repeats the UST stablecoin model.
#tron #trx #usdd #ust
The TRON DAO Reserve has acquired BTC and TRON tokens to secure the USDD algorithmic stablecoin. The organization bought 500 BTC at an average price of $31K worth more than $15.5M.
The head of the Tron Foundation, Justin Sun, announced the launch of USDD in April, it took place on May 5th. According to Sun, TRON DAO Reserve will set a “risk-free” annual interest rate of 30% for the return on the asset.
USDD, according to the algorithm of its work, repeats the UST stablecoin model.
#tron #trx #usdd #ust
BTC close to fair price amid UST collapse
The bitcoin exchange rate decreased by a distance of 10% to its fair price with a new minimum for 17 months. It happened against the backdrop of the collapse of the UST stablecoin and the associated turbulence, according to a report by Glassnode analysts.
#BTC #UST #crypto
The bitcoin exchange rate decreased by a distance of 10% to its fair price with a new minimum for 17 months. It happened against the backdrop of the collapse of the UST stablecoin and the associated turbulence, according to a report by Glassnode analysts.
#BTC #UST #crypto
USDT holders have withdrawn $10B into fiat
Since the beginning of May, Tether Holdings Limited has bought $10B worth of tokens from USDT holders. It was reported by The Guardian.
The publication notes that users began to go into fiat amid the collapse of the algorithmic stablecoin UST and the LUNA token. On May 12, the price of USDT briefly lost parity against the US dollar — then the issuer redeemed $600M worth of assets in a day, according to Tether CTO Paolo Ardoino.
The media indicates that over the past few days, Tether has redeemed USDT for a total of $2.5B. The capitalization of the asset exceeds $73B, according to CoinGecko.
#fuji_news #stablecoin #UST #USDT #tether #crypto
Since the beginning of May, Tether Holdings Limited has bought $10B worth of tokens from USDT holders. It was reported by The Guardian.
The publication notes that users began to go into fiat amid the collapse of the algorithmic stablecoin UST and the LUNA token. On May 12, the price of USDT briefly lost parity against the US dollar — then the issuer redeemed $600M worth of assets in a day, according to Tether CTO Paolo Ardoino.
The media indicates that over the past few days, Tether has redeemed USDT for a total of $2.5B. The capitalization of the asset exceeds $73B, according to CoinGecko.
#fuji_news #stablecoin #UST #USDT #tether #crypto