TRON Inventor Will Spill This Altcoin!

TRON: While the stablecoin USDD in the TRON (TRX) ecosystem continues to perform below the $1 stable, there is talk of whether there is any risk for investors. USDD, which lost the dollar rate and fell below $0.93 on June 13, has since regained the $0.98 level. Meanwhile, rumors are circulating that TRON founder Justin Sun will dump USDDs on the market. Here are the details…

Are the funds of traders holding USDD safe?

USDD is trading at $0.978, up 0.35 percent in the last 24 hours, according to CoinMarketCap. In terms of market cap, the stablecoin had a market cap of $723 million prior to June 13. As we have also reported as AmkNews, de-pegging, that is, leaving the US dollar fixed, started on this date. After losing market size for several days, its current market cap has dropped below $700 million.

Justin Sun's Company Has Purchased These 2 Cryptocurrencies!

Although USDD is claimed to be a decentralized algorithmic stablecoin, many argue that it is actually decentralized. Unlike other stablecoins like UST, minting USDD is a private matter. Only a few whitelisted institutions are allowed to mint new USDD by burning Tron’s TRX. Meanwhile, Coffeezilla, a channel on YouTube, hinted that the collateral assets were probably stored in a wallet belonging to Justin Sun. Coffeezilla used the following statements:

It is unclear whether these assets will actually be deployed and the BTC wallet they have is more than 2 years old. Which indicates that this is not a new DAO wallet, but probably just Justin Sun’s BTC wallet.

Published by USDD TRON founder?

He also claims that 94 percent of USDD was minted by Justin Sun. According to Coffeezilla, the questionable address of the Tron founder has minted 683,320,461 USDD, 94 percent of all USDD ever minted.

The Youtuber claimed that “USDD looks like a honeypot for individual traders to be dumped by Justin Sun.” Currently, the Tron DAO Reserve supports total outstanding supply with a $2.31 billion portfolio in various cryptocurrencies. Reserve; He claims that USDD is secured by over-collateralization of multiple mainstream cryptos such as TRX, BTC, and USDT. The total value of the secured assets is significantly higher than the USDD in circulation with the collateral rate set at 130 percent.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.