TRON DAO Reserve has announced that it will withdraw 3 billion TRX tokens from a centralized financial exchange and a Decentralized Finance (DeFi) lending protocol in an effort to avoid a Terra-like UST collapse.
The foundation announced the news via Twitter on Thursday (16 June,2022). The foundation announced the decision in a tweet on Thursday (16 June 2022). These planned withdrawals are part in efforts to reduce liquidity for short traders and prevent a crash. They can cause TRX’s value to plummet sharply and the organization will stop short-traders from dumping TRX. The TRON DAO Reserve transferred $100m USDC to Binance in order to buy TRX, and also deployed $120 million more to buy TRX. According to CoinGecko, USDD is still trading at $0.97. The TRX price is $0.060.
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