Is Tron (TRX) Good Now For Shorting Amid Issues In Pegging USDD To US Dollar?

Currently, Tron’s USDD stable coin costs $0.973713 which is creating an awful situation for those who hold and use it. In the bear market, we witness everyone cashing out in fiat US dollars. Nevertheless, some stable coins can’t manage to provide their pairs which are fiat currencies in the withdrawal process.

In the case of Terra USD (UST), there was a shortage in providing the fiat money. Seemingly this is repeating for USDD even though Justin Sun, Tron’s founder and CEO has transferred 100 million USDC to Binance to buy TRX.

Tron’s community is urging crypto traders not to short TRX by avoiding a pressuring the market. However, the main coins BTC and ETH are continuing to decline as experts claim Bitcoin will go down to $14k and ETH is going to trade under $700 until November 2022.

Several whales might take an enormous advantage in shorting TRX after LUNA failed to back its UST. Anyway, they are shorting bigger coins like SOL, BNB, AVAX, DOT, and many more.

Helen Larsen

After a long week of holidays in 2020, Helen realized she can do better in reporting Finance and Business news for Own Snap. Right now she is our weekend reporter and author. Sometimes she is busy with her projects that are related to her Master's Degree in Finance.