A closely followed investor and analyst announced that he is following an altcoin that he says could emerge from the chaos as the big winner, following the collapse of Terra (LUNA) and its algorithmic stablecoin TerraUSD (UST). As Kriptokoin.com, we convey the altcoin project and analyst views on the analyst’s list.
This altcoin will fill the void of Terra (Luna) and TerraUSD
An analyst and investor, known by the pseudonym Light, gave his 160,600 Twitter followers Tron (TRX) and the algorithmic stablecoin decentralized USD (USDD). He says he’s ready to fill the void left by Terra’s collapse. Light said:
TRX is about 99 percent of alternative altcoin projects, driven by Tron’s recent foray into the algorithmic stable space and the 30 percent return from USDD. It displayed tremendous relative strength at its March highs, amid a decline of 50 percent or more. In bear markets, winners win.
Tron, a cryptocurrency originally designed to serve as a decentralized storage and distribution platform for social media and digital entertainment content, has recently updated the relationship between LUNA and UST after their collapse. made an uptrend to reflect first. Justin Sun, founder of Tron stated:
USDD will be pegged to the underlying cryptocurrency TRX and listed in a decentralized manner. When the price of USDD is less than one US dollar, users and arbitrageurs can send a USDD to the system and receive one US dollar worth of TRX. When the price of USDD is higher than one USD, users and arbitrageurs can send one USD worth of TRX to the decentralized system and receive a USDD. Regardless of market volatility, the USDD protocol will decentralize the USDD to 1:1 against the US dollar through appropriate algorithms.
Offers opportunities to investors
Light says the current TRX and USDD status offers opportunities for investors considering the algorithmic stablecoin has a market cap of just $534M . Light shared his views as follows:
(TRX + USDD) is in its very early stages. It doesn’t yet carry the same risks as LUNA. It offers opportunities for those who have not yet invested or even those who have not yet heard of these altcoins. In musicals, timing is everything. USDD market cap is just 2.5 percent of UST’s peak.
The crypto investor also cites in a tweet from Justin Sun, where the Tron founder says USDD has a $10 billion return held in the Tron DAO Reserve. According to Light, investors have now started the process of sending their TRX to the system to print USDD. The popular trader says TRX has a history of outperforming other cryptocurrencies during bear markets, adding:
After market-wide capitulation, USDD printing resumed this weekend and TRX’s central currency balances caused a sharp drop… Tron has a history of rallies during times of bad market conditions, with a few names taking the lion’s share of speculative flows. The risk/reward situation of investing in the resurgent Justin Sun, who took the opportunity in the vacuum left by Do Kwon, is positive.
16760
