• Tron-based stablecoin USDD fell below $1 parity again in early 2023, dropping to $0.972 per unit on Jan. 6, 2023 and to $0.977 per unit on Jan. 10, 2023.
• USDD has seen fluctuations in value since Dec. 11, 2022, reaching a low of 92.8 cents per unit in June 2022 and $0.971 on Dec. 13, 2022.
• Tron’s Justin Sun said that the team deployed more capital when USDD deviated from the $1 parity in mid-Dec. 2022 and USDD is currently over-collateralized by 202.41%.
Tron’s USDD Stablecoin has experienced some fluctuations in the early months of 2023, dropping below the $1 parity. On Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit, according to data provider coingecko.com.
The Tron-based stablecoin USDD had dropped to $0.972 per unit on Jan. 6, 2023, four days prior to its recent dip. USDD has seen fluctuations in value since Dec. 11, 2022, with a low of 92.8 cents per unit in June 2022 and $0.971 on Dec. 13, 2022. In mid-Dec. 2022, USDD deviated from the $1 parity and Tron’s Justin Sun said that the team deployed more capital.
USDD is currently the eighth-largest stablecoin in terms of market capitalization, according to coingecko.com. USDD is over-collateralized by 202.41%, compared to other projects like DAI which is 120%, USDT and USDC at 100%.
The Tron-issued stablecoin has been subject to a number of fluctuations during the past year, with the most significant being the Terra stablecoin depegging event in May 2022. This caused anxiety in the crypto industry, with a number of other stablecoins seeing similar deviations.
Tron is working hard to ensure that USDD remains a stable alternative to existing fiat currency markets. The team is continuing to deploy more capital to maintain the $1 peg. As of Tuesday, Jan. 10, 2023, USDD is trading at 98 cents per coin.