A whale executed a 4.49 million USDD to 4.46 million USDT exchange.
The USD dropped to $0.975 on November 9 when another “whale” traded 6.65M USDD.
Justin Sun, the founder of Tron, plans to provide a “holistic solution” to alleviate the liquidity crisis facing FTX. Meanwhile, on-chain data indicated that the algorithmic stablecoin USDD has unexpectedly begun depegging and was last trading at $0.98. A previous response from Justin Sun indicated that it is likely that Alameda is selling USD to cover liquidity at FTX. Right now, he claims, there is “basically panic sell on the Ethereum blockchain.”
On-chain data suggests that a selloff of USDD stablecoins by “whales” prompted the stablecoin to depeg. A whale executed a 4.49 million USDD to 4.46 million USDT exchange on November 8 at a rate of $0.9935. The outcome was a drop in USDD to $0.983.
Supply and Collateral
The USD dropped to $0.975 on November 9 when another “whale” traded 6.65 million USDD for $6.51 million US
We współpracy z: https://thenewscrypto.com/algorithmic-stablecoin-usdd-depegs-now-trading-at-0-98/
