- Tron’s USDD Showed Improvement Despite Market Turbulence – Tron’s stablecoin, USDD, showed positive improvements in the market despite the turbulence faced by other stablecoins. However, it still lagged behind in terms of market cap.
- High Number Of Addresses Showing Conviction In The Stablecoin – Despite the price fluctuations in Q1, the number of individuals owning USDD on Tron remained slightly above 130,000.
- Lowest Transaction Volume Of USDD On Tron In Q1 2023 – In its brief history, Q1 2023 witnessed the smallest transaction volume for USDD on Tron.
Tron’s USDD Showed Improvement Despite Market Turbulence
Tron’s stablecoin, USDD, witnessed positive improvements in the stablecoin sector despite the turbulence faced by stablecoins in the market. This was indicated by a high number of addresses holding USDD and showing conviction in the stablecoin. However, it continued to lag behind other competitors such as USDC and Maker (DAI) in terms of market cap.
Number Of Individuals Owning USDD On Tron Remained Slightly Above 130K
Despite price fluctuations over Q1 2023 that saw a surge in volume during periods of uncertainty and de-pegging, there were still individuals who kept their faith in USDD as evidenced by figures that showed more than 130K people owned it. At this stage though it had its lowest transaction volume since launch with Uniswap being responsible for 85.9% of all its volume.
USDD Struggled To Maintain Its Peg To The U.S Dollar
As worries spread among users about USDC de-pegging resulting in greater instability among stablecoins including USDD; its largest daily trading range since launch was seen over March 10th week. Although stability returned after this period and managed to return to a narrow range but still marginally below its peg.