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A stablecoin is a cryptocurrency that is pegged to a certain fiat currency. It provides stability for investors of crypto, making transactions easier. USDD, a stablecoin created by the founder of the Tron Blockchain, Justin Sun, has been losing its peg to the U.S. dollar. According to Coingecko, USDD is currently
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2022 has been an interesting year for stablecoin assets as the market capitalization of the entire stablecoin economy lost just over $28 billion in value. Moreover, more than $3 billion has been erased from the stablecoin economy during the last 23 days as BUSD shed roughly 23.3% during the last
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“While there have been multiple recent failures in crypto, it is important to distinguish between Terra’s case, where a transparent, open-source decentralized stablecoin failed to maintain peg parity and its creators spent proprietary capital to try to defend it, and failure of centralized custodial platforms where its operators misused other
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The crypto market still seems to be in the grasps of FTX and Alameda. Currently, rumors are circulating that Tether’s stablecoin USDT
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USDT is trading at $0.9955 on several bourses, down 0.6% from its $1 peg. Source
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Tron founder Justin Sun has taken up a senior role at Huobi in recent weeks and one of the immediate changes he is making is shifting volume to his own stablecoin, USDD. Whilst Huobi didn't issue HUSD, it was active in marketing the token since its launch in 2018. Source
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As the crypto community tries to navigate the bear market and recover from the onslaught brought about by stablecoin incidents like the Terra crash, another algorithmic stablecoin shows signs of struggle as it falls below its dollar peg. Algorithmic stablecoin Neutrino Dollar (USDN) has deviated from the dollar once again, marking
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Algorithmic stablecoin USDN, which is designed to mimic the value of the U.S. Dollar, has fallen to $0.91. Source
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The HUSD stablecoin, which is issued by Stable Universal, has returned to its $1 peg after suffering "liquidity problems" in relation to a closed market maker account. Source
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The stablecoin HUSD, originally associated with the crypto exchange Huobi Global, lost its peg with the U.S. dollar on Wednesday, August 17, and it dropped even lower in value the following day on Thursday, August 18. On Thursday, Huobi addressed the public on Twitter and the exchange said “we are
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