June 7, 2022: $USDD's Nuts 🥜🐿

Sun's stablecoin rises into the top ten

While $UST’s corpse is still steaming, degens are moving over en masse to $USDD.

$USDD jumped into the top ten with a $700B market cap and a whopping 231% growth in the past month. Despite the frenzy, it’s nowhere close to filling the vacuum left by $UST’s sudden collapse.

The ascendance of $USDD is also generating remarkable growth for Tron ($TRX) TVL in an otherwise putrid market.

Patrick Scott | Dynamo DeFi @Dynamo_Patrick

Out of the top 10 chains, Tron and Waves saw the strongest TVL growth, increasing 5.9% and 19.5% respectively. $TRX growth was driven by the growth of its algorithmic stablecoin, USDD, and Waves’ growth was driven by a price increase in $WAVES. 4/18

In the wake of the $UST fallout, if you’ve ever heard anybody claim that crypto has “learned its lesson” or that crypto will “self regulate,” know that they fall on the spectrum somewhere between naive and outright liar. $USDD’s boast of 30% yields has made its way around the world, while efforts at promoting more educational resources around cryptocurrency risks have sputtered and died.

Is $USDD bad? If you have to ask, you should just sit on the sidelines and watch, pure and simple. Nobody ever lost money not gambling (except for the double digit inflation, but whatevs).