Алгоритамски Стаблецоин УСДД Депегс Јустина Суна

Tron founder Justin Sun looks to work on a “wholistic solution” to save FTX from the liquidity crunch. Meanwhile, on-chain data suggested algorithmic стаблецоин USDD has started to depeg suddenly and is now trading at $0.974. Justin Sun earlier responded that probably Alameda is selling USDD to cover liquidity at FTX. Now, he says it’s “basically panic sell on Ethereum blockchain.”

Is FTX’s Alameda Behind Justin Sun’s USDD Depeg

Према податке о ланцу, USDD algorithmic stablecoin selloff by whales caused the stablecoin to depeg. On November 8, a whale swapped 4.49 million USDD for 4.46 million USDT at a ratio of 0.9935. As a result, USDD lost its peg and fell to $0.983.

On November 9, another whale exchanged 6.65 УСДД за КСНУМКС USDC at a ratio of 0.9799, causing USDD to drop further to $0.975. Moreover, the USDD liquidity pool on Curve, where users can trade USDD for other stablecoins such as USDT, USDC, and DAI is significantly imbalanced, with USDD accounting for 82.27%.

After several people raised concerns over USDD depeg, Tron founder Justin Sun commented that Alameda Research is possibly selling USDD to cover the liquidity of the FTX crypto exchange.

“I think probably Alemeda just sold their USDD to cover the liquidity of ftx exchange. The pool currently is back with a healthy rate.”

Tron DAO Reserve manages supply and collateral for USDD algorithmic stablecoin. According to Tron DAO Reserve data, USDD total collateral backed by TRX, Bitcoin, stablecoins USDT and USDC has dropped to $1.7 billion. The collateral ratio has also dropped to 214.42%.

However, all stablecoins are уложен and earning yields in JustLend. In addition, преко 99% од TRX is locked inside a staking governance contract. Thus, the available collateral is only 500 million USDC и КСНУМКС BTC worth $230 million. The actual collateral ratio is only 114%.

Трон ДАО резерват само је најавио to purchase total 1 billion USDT in order to increase its USDD collateral. In a prior tweet, Tron DAO Reserve stated to purchase $300,000,000 УСДТ to safeguard the overall blockchain industry and crypto market.

Binance’s Stablecoin BUSD Strengthens

While other stablecoins risk losing their peg, Binance’s BUSD stablecoin is showing strength despite the FTX crisis. Whales are getting out of УСДТ and USDD, converting holdings to BUSD.

As part of increasing transparency, Binance revealed details on hot and cold wallet addresses. Binance has 475,000 BTCs, 58 million BNB, 4.8 million ETH, and 21.7 billion BUSD. Other stablecoins holdings include 17.6 billion USDT and 601 million USDC.

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Source: https://coingape.com/ftx-crisis-justin-suns-algorithmic-stablecoin-usdd-depegs/