Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital

The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project is overcollateralized by 200.8% at the time of writing.

Justin Sun Tells Crypto ‘Lads’ to Hold ‘Steady’ as USDD Team Deploys More Capital

Tron’s stablecoin USDD is the eighth largest dollar-pegged token and it’s ranked 57 in terms of the largest market capitalizations among thousands of crypto assets. On Monday, Tron’s stablecoin dropped down to $0.969 per token at around 2:51 a.m. (ET) and at around 8:00 a.m., USDD is exchanging hands for $0.979 per unit. While the Tron stablecoin dropped in fiat value, Tron founder Justin Sun reassured the public that USDD was an overcollateralized stablecoin by sharing the URL usdd.io.

Deploying more capital – steady lads

— Do Kwon