USDD Strablecoin Depegging
Updated
As i warned you in the past article, TRX is about to collapse because of USDD:
According to their website, USDD is secured by the over-collateralization of multiple mainstream digital assets (e.g. TRX , BTC , and USDT). The total value of collateralized assets is significantly higher than that of USDD in circulation with the collateral ratio set at 120%.
This is the USDD collateral:
TRX 10,929,535,279
BTC 14,040.6 = about 313Mil
USDT 29,964,253
USDC 39,719,839
so besides TRX , the total amount of other collateral is 383Mil for a stablecoin that has a mk cap of 724Mil.
Now let`s say TRX drops to the Covid level of $0.0072, which is not unrealistic in my opinion.
Then the TRX collateral of 10,929,535,279 coin will be worth $78,692,654.
Assuming that BTC won`t go lower, then still the liquid collateral of USDD will be around 462Mil for a mk cap now of 724Mil, which will result in a huge depegging od the "stablecoin".
Looking forward to read your opinion about it.
According to their website, USDD is secured by the over-collateralization of multiple mainstream digital assets (e.g. TRX , BTC , and USDT). The total value of collateralized assets is significantly higher than that of USDD in circulation with the collateral ratio set at 120%.
This is the USDD collateral:
TRX 10,929,535,279
BTC 14,040.6 = about 313Mil
USDT 29,964,253
USDC 39,719,839
so besides TRX , the total amount of other collateral is 383Mil for a stablecoin that has a mk cap of 724Mil.
Now let`s say TRX drops to the Covid level of $0.0072, which is not unrealistic in my opinion.
Then the TRX collateral of 10,929,535,279 coin will be worth $78,692,654.
Assuming that BTC won`t go lower, then still the liquid collateral of USDD will be around 462Mil for a mk cap now of 724Mil, which will result in a huge depegging od the "stablecoin".
Looking forward to read your opinion about it.
Trade active
Watch for a new depegging soon!
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RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
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