TRON DAO Reserve to Withdraw Another 3 Billion TRX to Protect USDD Peg


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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Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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