The capitalization of USDD, the stablecoin on the Tron (TRX) blockchain, is “only” $270 mln according to Justin Sun. Justin Sun said that Tron, with its capitalization and reserve, would have no problem repelling speculative attack.
Tron fared far better than most
TRX traded for $0.07 at the time this article was written and had lost only 4.2% of its value. Contrary to this, most of the top 100 cryptocurrencies by market capital lost between 20-30% and 30% over the past 24 hours. This has been very painful. Some have lost as much as 40%.
It remains to be seen whether Sun’s enthusiasm will be warranted long-term, but it has not gone unnoticed by experts. Dyma Budorin (Founder and CEO of Hacken) commented:
Such a statement is in Justin’s style — he never misses a single newsbreak, which might help him to attract attention. In case Swift was not connected to the Russian Federation, Justin tweeted a screenshot from his conversation with the Russian Federation’s state representative about TRX.
Kostiantyn Olekshko, CER.live’s product owner, added:
All algorithmic stablecoins will be at risk in a declining market. We advise to diversify your stablecoin portfolio to mitigate all risks.
About Kostiantyn ObleshkoKostya has 6+ years experience in the blockchain industry and is a master of applied cryptography.
He worked as a Project Manager for many crypto projects including entities connected to the National Bank of Ukraine, which were developing E-Hryvnia and the Ukrainian CBDC. He believes security is key to mass adoption of crypto.
Dyma BudorinDmytro is an influencer in the blockchain economy who promotes the development of virtual assets markets in Ukraine with the Ministry of Digital Transformation of Ukraine.
According to reliable news outlets, Dyma was ranked among the top 55 Ukrainian IT entrepreneurs in 2021.
