USDD Strablecoin Depegging

2023年3月11日

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.

2023年3月23日

交易進行

Watch for a new depegging soon!