Tron-backed USDD loses dollar parity as stablecoin dips below | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
Tron-backed USDD loses dollar parity as stablecoin dips below $0.97
Tron's algorithmic stablecoin called Decentralized USD, known by its ticker USDD, slipped further from its supposed parity with the US dollar earlier today. Later, Tron founder Justin Sun purchased more than 1 million USDD. USDD dropped to slightly below 0.97 earlier today before recovering to around $0.98. This marks the second time the stablecoin has slipped out of dollar parity since it was first founded earlier this year. In June, the stablecoin dipped all the way to $0.96 before bouncing back to its intended value. The drop in USDD’s price comes as liquidity for the stablecoin has shrunk.
