With Tron buying this stablecoin at a discount, the TRX price rose by 7%

By    13 May,2022

Each cryptocurrency is trying to stand firm in the current market collapse. Many cryptocurrency leaders are shifting funds to protect the stability of their network tokens. TRON founder Sun Yuchen recently revealed $2 billion in reserves to protect the company's native token, TRX, during Terra's historic decline.


TRON acquired USDT for $98 million.

TRON DAO Reserve, which backs its stablecoin USDD, has announced a safeguard. It said they bought about 100 million Tether (USDT) at an average price of $0.982. They only spent $98.2 million. TRON just bought the drop.

USDT, the largest dollar-linked stablecoin, fell 4.8% to $0.95. It has fallen to its lowest level since the bitcoin crash of 2017. However, USDT returned to $0.99 in a matter of hours. It fell 0.78% in 24 hours.

TRX tokens benefited from this trade, and its price immediately rose by more than 7% on the news. At the time of writing, the TRON token is trading at an average price of $0.07. Its 24-hour trading volume increased by 30% to $4.2 billion. TRX may be one of the tokens that survived the collapse of the Green Index. TRON is up 17% in the last 30 days, while Bitcoin is down 30%.

TRON adds $400 million to the USDC and TUSD supply.

The TRON network has also announced that it will increase the supply of USDC and TUSD on TRON by $400 million in the next two hours. Both stablecoins will grow by $200 million. TRON DAO Reserve has purchased approximately $97 million in TRX tokens to protect the crypto market. The average cost of purchase is $0.0661. TRON has also injected 1,000 bitcoins at an average price of $30,096 to maintain market stability.

According to WhaleStates, more than $20.9 million in TRX tokens were transferred from the Coinan cryptocurrency exchange to multiple wallets.



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