Justin Tron’s Stablecoin USDD deviates from $1 parity, fear of a fate in Luna sets in!

Amidst the falling value of USDD, Tron founder Justin Sun tweeted that his team was “deploying more capital“, and the stablecoin web portal usdd.io claims that the project is overcollateralized by 200.8% at the time of writing.

Justin Sun tells the “guys“from the crypto to stay”stable” while the USDD team deploys more capital.

Tron’s stablecoin USDD is the eighth-largest dollar-denominated token and is ranked 57 in terms of largest market capitalization among thousands of crypto assets. On Monday, Tron stablecoin fell to $0.969 per token at around 2:51 a.m. ET, and by 8 a.m. USDD was trading at $0.979 per unit. As the Tron stablecoin dropped in fiat value, Tron founder Justin Sun reassured the public that USDD was an over-collateralized stablecoin by sharing the URL usdd.io.

The dedicated stablecoin web portal Tron claims that the USDD is overcollateralized by 200.8% as of 8:00 am (ET) on December 12. “In case anyone is wondering about [USDD]the collateralization ratio is 200% on usdd.io “, said Justin Sun. “You can check all the data live on the blockchain 24*7“, the Tron founder added. Following this statement, Justin Sun tweeted another comment that was once said By Terra co-founder Do Kwon when UST was losing its touch. Justin Sun wrote:

Deploy more capital – regular guys.

This is not the first time the USDD has fallen below $1, as the stablecoin fell below $1 on November 10, 2022, the day before FTX filed for bankruptcy protection on November 11. On Nov. 10, USDD slipped to $0.976 per unit and returned to the $0.99 range on Nov. 18, around 1 p.m. ET.

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Tron's USDD Stablecoin deviates from $1 parity, Justin Sun says team deployed more capital.
Tron’s USDD stablecoin on December 12, 2022.

The Tron stablecoin USDD sank even lower on June 19, 2022, when it dropped to $0.928 per unit six months ago. By the first week of July, it was back to $1 until November 7, 2022, when it began to drift again.

Interestingly, the Tron stablecoin hit an all-time high just over a month ago, when it reached $1.04 per unit on November 9, 2022. At the time of this writing, USDD has a global market capitalization of approximately $711.31 million, and an estimated $79 million in global 24-hour trading volume.

The supply of stablecoin has increased by 0.2% in the last 30 days. Since June 3, 2022 the market capitalization of USDD has increased by 6.6% from $667 million to $711 million today. Tron stablecoin is listed on a myriad of centralized and decentralized exchange platforms, with Huobi being the most active exchange on December 12.

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