Hi Traders,
USDD is the TRX backed algorithmic stable coin - the DAO has massive reserves of TRX and faced some scurtinty when LUNA collapsed as next potential targets - prices where stable then and Justin did deploy alot of stable coins to prevent damages.
Now with FTX collapsing and the long arm of ALAMEDA going down with the ship we should expect to see the fragile projects like USDD collapse as many will sell that which they need to de-risk.
There is more to this but thats for someone else to explain the technicals.
All in all - TRX is holding ok for now considering they have alot of stable coin USDT reserves, the question is WHAT happens when that runs out...
SHORTING TRX from 0.058
0 incoming.
Goodluck,
AssetMastery
USDD is the TRX backed algorithmic stable coin - the DAO has massive reserves of TRX and faced some scurtinty when LUNA collapsed as next potential targets - prices where stable then and Justin did deploy alot of stable coins to prevent damages.
Now with FTX collapsing and the long arm of ALAMEDA going down with the ship we should expect to see the fragile projects like USDD collapse as many will sell that which they need to de-risk.
There is more to this but thats for someone else to explain the technicals.
All in all - TRX is holding ok for now considering they have alot of stable coin USDT reserves, the question is WHAT happens when that runs out...
SHORTING TRX from 0.058
0 incoming.
Goodluck,
AssetMastery