27 June 2022
The stablecoins in the Cryptocurrency market are fluctuating after the fall of TerraClassicUSD (USDTC). USDD is one of the stablecoin by TRON DAO. For the last month, the coin is been trading in red and it records an all-time low on June 19.
By the middle of May, the coin started to depeg from $1. Currently, the USDD is trading at $0.9523, with a trading volume of $131.37M. The collateralization rate of TRON USDD is 322.79% and the total collateral as of now is more than $2B.
The total market capitalization of stablecoin is above $150 billion which means the risk-takers in the Cryptocurrency market are pretty high. The famous Crypto advocate, Lark Davis shared a tweet stating that the major number of capital is sidelined as of now.
Also, the hold of stablecoin is 150 times more than the hold on Bitcoin at a similar price in 2017. The market cap of USDD is $691 million, which is 0.445% of the stablecoin pool.
There is one more fear prevailing that the liquidity may not be enough if people decide to cash at present and the employment of these can be further seen as a utility. While other sectors feel that traders have become smart enough to protect their investments.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice