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TRON DAO Reserve bought BTC and TRX for $60 million amid market crash

Amid the market slump, the team behind the TRONDAO-Reserve two acquisitions for that stablecoin of the project. They also welcomed Ankr as the fourth member of the reserve.

  • The last five days have been downright turbulent in the field of cryptocurrencieswhereby Bitcoin lost nearly $10,000 and the altcoins followed.
  • While some blame Terra and its controversial UST stablecoin for the current landscape, TRON has decided to bolster its own support, which works in a similar way.
  • Earlier today, the TRON DAO Reserve announced the purchase of 500 BTC at an average price of $31,031 for over $15.5 million and the purchase of nearly 600,000,000 TRX known for $45,641,630. In total, the organization spent over $60 million on the couple.
  • It has been argued that the move is an attempt to “take the entire Blockchain-Industry and to protect the crypto market”.
  • Separately, the brainchild of Justin Sun said she welcomed Ankr as the fourth whitelisted member and institution.

🥂@ankr has officially become the fourth whitelisted member and institution of #TRON DAO Reserve. Welcome aboard 🥳

We will strive to effectively function as a decentralized crypto reserve to solidify the value of #USDD as a true settlement currency. 💪 pic.twitter.com/WmaeWWqHjZ

— TRON DAO Reserve (@trondaoreserve) May 10, 2022

  • Aside from the TRON-DAO reserve, El Salvador also bought the dip, as reported yesterday. The nation’s president – Nayib Bukele – said the country bought exactly the same amount (500 BTC) but at a slightly lower average price of $30,744.
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Source: Crypto News Deutsch

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