Altcoin News- As of June 7, TRON DAO reserve holds $2.2 billion.
- The supply of USDC has also increased to 445 million.
TRON DAO reserve has made some recent purchases of tokens to increase the count. The motto of the TRON reserve is to stabilize the crypto market and blockchain industry. One of the latest is $10 million USDD and TRX, along with the increase in USDC supply to 445 million.
To safeguard the overall blockchain industry and crypto market, TRON DAO Reserve have increased 445,000,000 #USDC supply on #TRON. Currently USDC supply on TRON has reached $3.3 billion.
— TRON DAO Reserve (@trondaoreserve) July 8, 2022
As per the official report, the reserve holds $ 2.2 billion and a guarantee of 723 million USDD. The major purpose of the reserve is to act as the collateral for the stablecoin project.
USDD Recap
The stablecoin USDD lost its $1 peg lastly on June 13 and fell low up to $0.9317 on June 19. For the past month, the coin has been struggling to regain its peg.
The current price of USDD is $0.9959, and the circulating supply is 723 million with 24 hrs trading volume of $98 million.
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Source: https://thenewscrypto.com/stablecoin-receiving-collaterals-from-tron-reserve/