TRON acquires USDT 1 billion to “safeguard” the market

TRON DAO announced a USDT 1 billion purchase with the aim of safeguarding the blockchain industry at large. USDT slipped below $0.95 in today’s trading.

During today’s morning the value of USDT fell to $0.93. due to the sharp fluctuations that the digital asset market has experienced in recent days. USDT is a stable cryptocurrency that is secured on a 1-to-1 basis with the U.S. dollar, ensuring that the price of each USDT token is equal to $1.

The fact that the value of a stable cryptocurrency fluctuates too much is something to contend with, so what happened today did not go unnoticed by the cryptocurrency community. For this reason, TRON’s Decentralized Autonomous Organization (DAO) decided to take matters into its own hands.. Through a release, the organization revealed that it would purchase USDT 1 billion, which corresponds to USD 1 billion.in order to cushion the downturn in business.

His Twitter post reads, “To safeguard the blockchain industry in general and the cryptocurrency market, TRON DAO Reserve will purchase a total of USDT 1 billion.“.

The content of the publication may confuse users, since the purchase will not be made in a single transaction. Initially, TRON DAO will purchase USDT 300 billion, moving to USDT 1 billion.

After USDT fell to $0.93, the asset quickly regained a more normal price close to the dollar. Currently, USDT has regained parity with the dollar.

Continue reading the $4 billion needed for FTX to avoid bankruptcycould be interesting.