Reports that Tron DAO Reserve purchased $38 million worth of tron to protect the stablecoin USDD. Tron DAO Reserve continued to buy large amounts of digital assets to support the project’s reserves since then, and after the terrausd(UST) de-pegging events. The organization has also been purchasing tron and adding bitcoin and stablecoins to its mix.
While Terra’s Stablecoin imploded Tron’s Algorithmic dollar-Pegged Crypto Project purchases millions of Tron, Bitcoin and Tether to defend USDD
The Terra blockchain and its native crypto assets LUNA, UST and LUNA have been the focus of all attention over the last week. The USD value of both coins plummeted and the crypto economy lost more than $46 billion. Despite all the chaos, Tron DAO Reserve continued to buy crypto assets for its forex-based digital currency reserves. Bitcoin.com News reported that Tron’s founder Justin Sun was killed and the Tron DAO Reserve purchased $38 million in Tron ( TRX).
Despite the market chaos that followed the UST collapse, the project has continued to purchase crypto since then. Tron’s stablecoin USDD, which is dollar-pegged and has similarity to Terra’s UST, is also available. Tron DAO Reserve added that 504.6 million tron was purchased (TRX).
We manage USDD’s early custodian permissions and provide price stability through reserves.
The TDR added funds to the reserve last week, following the purchase of 504.6 million trons. Tron DAO Reserve purchased 500 Bitcoin at an average price of $31,031.35 for $155,515,675 to protect the entire blockchain industry.” TDR detailed May 10. TDR also stated that it had purchased 595,729 tron for $45.6million. Despite the chaos in the crypto market that day, the TDR team stated “USDD remains steady in today’s market volatility.”
