Tron’s TRX token rose as much as 27% in the past 24 hours as its ecosystem stablecoin Decentralized USD (USDD) inched closer to its intended $1 peg. By shauryamalwa
Tron’s TRX token rose as much as 27% in the past 24 hours as its ecosystem stablecoin Decentralized USD inched closer to its intended $1 peg.
TronDAO, a decentralized organization that oversees development on Tron, said in a Wednesday tweet that it sent over $120 million worth of USD Coin to Binance to “purchase TRX,” creating buying pressure among traders. The DAO later sent another $100 million for the TRX purchase, it said in aTRX rose to over 6 cents in Asian morning hours before a brief sell-off at the time of writing. The token was trading at 4 cents in European hours on Wednesday.
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