• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Thursday, July 17, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Justin Sun Reveals $2 Billion Injection to Save USDD Peg

by Kunjit Gupta
June 14, 2022
in Crypto, Crypto Exchanges, Crypto Regulation, NFTs
Reading Time: 2 mins read
0
JUSTIN SUN

Credits: https://www.cnbc.com/

TwitterWhatsappLinkedin
JUSTIN SUN
Credits: https://www.cnbc.com/

Because of the recent decline in the price of TRX (TRX), Tron’s founder, Justin Sun, announced on Twitter that the Tron DAO Reserve will deploy $2 billion to combat short sellers. Tron’s price on CoinMarketCap was $0.06362 at the time this article was written, representing a decrease of 18.05 percent over the previous twenty-four hours. As of the time, this article was written, the total market capitalization of Tron was USD 5,793,985,125. At this moment in time, there are 92,536,363,276 TRX coins in circulation.

You might also like

Big U.S. Banks Gear Up to Launch Stablecoins as Regulation Takes Shape

Affluent Indians Pivot to Cryptocurrencies Amidst Sluggish Traditional Markets

Tether’s USDT Supply Soars to Record High $160 Billion After $2 B Mint

Short-term investors might experience what is known as a “short squeeze” when they are forced to buy back their bets to liquidate their holdings before they incur a loss of capital. As a direct consequence of this, the expenses incurred by the dealers increase. According to Sun, the “funding rate” for shorting TRX on Binance is now at a whopping 500 percent.

As part of the preparations for the USDC peg, Sun claims that 700 million USDC have been moved to the Tron DAO Reserve.

A retweet from Tron DAO Reserve was one among the tweets that Sun retweeted with the comment “Doing our part.” Binance has been provided with 100 million USDC by the Tron DAO Reserve, which the exchange expects to utilize to purchase further TRX.

On Saturday, the Tron DAO Reserve made purchases totaling trillions of dollars worth of Bitcoin and TRX. It was decided to establish a reserve for the over-collateralization of cryptocurrency and stablecoin holdings. At any one moment, there is a guarantee that the reserve will hold a sum equal to or more than 130 percent of the total amount of US dollars currently in circulation.

Additionally, Tron said that the website for the Tron DAO Reserve would begin posting real-time information on the collateral ratio beginning on June 5, 2022. The number was at 280 percent when we checked on it first thing this morning.

According to Sun, the development of a brand new stable coin that will be known as USDD will begin on the TRON platform in April this year. The development of a decentralized stable coin known as USDD will be one of the most significant achievements that the organization will achieve.

In addition, he said that the US would be safe to hold over the long term as a result of the Tron DAO Reserve. The first method of dispersal will make use of TRC coins, with each coin having a value equivalent to one TRON dollar. It has been decided to make the TRON DAO Reserve available to the general public to facilitate the management of the USDD reserves.

Tags: #CryptobitcoinblockchainBTCcryptocurrencyEthereumTrading
Tweet54SendShare15
Previous Post

Forza Horizon 5 Officially Reveals Hot Wheels Expansion

Next Post

NFT Flipping Not So Profitable For More Than Half Of Buyers

Kunjit Gupta

Recommended For You

Big U.S. Banks Gear Up to Launch Stablecoins as Regulation Takes Shape

by Anindya Paul
July 17, 2025
0
U.S.

Introduction Major U.S. banks are quietly preparing to launch their own stablecoins—digital tokens pegged to the U.S. dollar—as Washington inches toward crypto friendly regulation. With the Senate having...

Read more

Affluent Indians Pivot to Cryptocurrencies Amidst Sluggish Traditional Markets

by Anindya Paul
July 17, 2025
0
India

While the equity money backdrop sprawls on and gold remains fine, India's rich are steadily looking to cryptocurrency as an asset class that appears to be ready for...

Read more

Tether’s USDT Supply Soars to Record High $160 Billion After $2 B Mint

by Anindya Paul
July 17, 2025
0
Tether

Tether, the issuer of the largest stablecoin in the world (USDT), minted a further $2billion USDT on July 16, 2025, bringing its total supply over a historic $160...

Read more
Next Post
NFT Fliping

NFT Flipping Not So Profitable For More Than Half Of Buyers

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?