107078936 1655897583526 gettyimages 1241448432 coskun notitle220621 nptuJ Terra's new algorithmic stablecoin falls below its $1 peg

Terra’s new algorithmic stablecoin falls below its $1 peg

– A controversial stablecoin called USDD is struggling to maintain its peg to the US dollar, after plunging to as low as 93 cents on Sunday.
– The coin’s creator has amassed a reserve of bitcoin and other digital tokens worth close to $2 billion to provide a buffer in case investors flee en masse.
– The situation has led to fears that USDD may suffer the same fate as terraUSD, or UST, the wrecked so-called stablecoin that formed part of an experiment called Terra.
– However, experts say this is unlikely to be the case, since USDD is much smaller in size and has seen little uptake from crypto investors.

 

 

107078936 1655897583526 gettyimages 1241448432 coskun notitle220621 nptuJ Terra's new algorithmic stablecoin falls below its $1 peg
Terra's new algorithmic stablecoin falls below its $1 peg 3

Leave a Reply

%d bloggers like this: