According to the stream of events, co released by is USDD has been depeg along with a surprise statement from founder Justin Sun.

Justin Sun "reveals a hint" to rescue , fly upstream, USDD depeg again?

Surprise statement from the founder of Tron

Thoughts will be Binance to the rescue, the plan to "sell myself" of failed and the market is struggling in extremely difficult days.

But recently, FTX seems to have turned to "rescue" Justin Sun. Founder and global advisor of Yesterday also announced that it will compensate and rescue those holding Sun coins who are being held on FTX. But currently only withdraw off the platform.

On the morning of November 10, he again announced that he was working with FTX to come up with a solution to control the situation.

But the founder said that “this is only the first step towards a comprehensive solution, helping to resuscitate and return to normal for all FTX users. I greatly appreciate the cooperation this time with FTX.”

By early afternoon, Justin Sun announced that users were able to trade TRX, HT, JST and SUN on FTX and was about to open withdrawals, causing users to rush to buy TRX and push up the price of this coin.

Immediately, the price of TRX "pumped" strongly from 0.06 to 2.5 USD, that is, in just 5 minutes, it has increased 41.6 times.

Read more  Top 5 IoT projects to pay attention to in 2023
TRX price has "pumped" strongly from 0.06 to 2.5 USD in the last 5 minutes
Coins “Sun system” also surged on FTX

Despite the correction, the price of TRX on FTX is up to 10 times higher than the general market.

1h chart of TRX/ pair on the floor at 01:35 PM on 10/11/2022

USDD loses peg

Follow Lookonchain, about 2 days ago, whale 0x3f34 changed 4,495,446 USDD to 4,466,269 , with a ratio of 0.9935. USDD also started depeg from that point.

About 18 hours ago, another whale moved to swap 6,653,731 USDD to 6,519,662 USDT, with a ratio of 0.9799.

Proof of on-chain swap USDD to USDT of whales
Activity done more than 18 hours ago

In terms of collateral assets, the total supply of USDD is 725 million USD, collateralized by 2 billion USD, ie 283%, the project is committed and listed on the official website. 

Total supply of USDD and amount of collateral

However, after checking, Lookonchain reflects that more than 99% of TRX numbers are not available and all was sent to Justlend.

99% TRX number is not available and all USDC has been deposited in Justlend
99% TRX number is not available and all USDC has been deposited in Justlend

This USDC has been loaned and only 596 million USD is left as a mortgage plus 14,040 (230 million USD). That means the actual guaranteed rate is only about 114%.

the actual mortgage rate is only about 114%

At the end of the announcement, Lookonchain also issued a warning to users: "If you are holding USDD, please carefully pay attention to the safety of your money".

USDD (Decentralized USD) to be  algorithm released by TRON (TRX) with the claim to be 3.0. Implementing this idea, TRON officially launched USDD on 05/05/2022, just a few days before - "vaporize". USDD works similarly . USDD will be value into USD, 1 USDD corresponds to 1 USD.

Read more  Valkyrie Investments proposes a GBTC plan

At the time of updating the article, 1 USDD can only be exchanged for 0.98 USD.

USDD starts to depeg and is out of balance

Thus, the above may be the latest consequence of the crisis battlefield of FTX.

Join our channel to get the latest investment signals!