Following the announcement from Tron DAO regarding the stablecoin project, USDD last night, the price of a TRX unit has jumped 16.34% from a level of $0.0645 to a daily high of $0.075.
As announced by the founder of Tron, Justin Sun, USDD will launch on May 5, 2022.
Unlike most stablecoins: Tether or USDC, USDD shares the same features as Terra USD (UST) and Frax Finance (FRAX) – algorithmic stablecoins.
Sun characterizes USDD as the most decentralized stablecoin in crypto history and of course it is not owned by any centralized entity.
This is an evolution that has gone from the Omni-USDT 1.0 era to the decentralized algorithmic stablecoin.
One of the factors that have played a role in TRX's price spike can be attributed to the launch of the non-fungible token (NFT) marketplace platform on Tron, known as APENFT on April 15th.
However, as of writing the price of TRX has lost more than 8% from its daily high overnight to $0.069.
But he still maintained a spike of over 9% in 24 hours and needed a spike of at least 77% to make up for his all-time high (ATH), $0.30 on January 5, 2018.
