Amid Monday's crypto market crash, Tron's recently launched al | Member Broker Bot Updates

Amid Monday's crypto market crash, Tron's recently launched algorithmic stablecoin USDD lost its dollar peg, slipping to a low of $0.9764.

At time of publication, USDD has yet to recover its dollar peg, with its price hovering around $0.98.

According to Tron founder Justin Sun, USDD's de-pegging happened because of large numbers of short sellers targeting TRX, the network’s native token, on crypto exchange Binance. He added that the Tron DAO Reserve would pledge as much as $2 billion to fight the short sellers.

A short squeeze occurs when traders are betting on the price of an asset to go down, but the price goes up instead, forcing them to close positions.

TRX fell by more than 16% on Monday to hit a two-month low of $0.58 before rebounding to its current value of $0.60, down 5% on the day.

All in all we will keep the rates down so we can keep up with future increase in prices (and also keeping the bot more affordable).

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