Tron Price Sinks 8%, USDD Depegs Amid Drama at Justin Sun-Related Huobi Crypto Exchange

.trondao founder justinsuntron sits on HuobiGlobal’s advisory board, which is said to be facing internal conflict and saw massive fund outflows in the past 24 hours. By shauryamalwa.

The price of Tron , the 18th-largest token by market capitalization, tumbled Friday amid tensions stemming from crypto exchange Huobi as the broader crypto market held steady.by 20% and require employees to take their salaries in stablecoins. It also closed internal staff communication channels to quell a rebellion, according to reports on Twitter.. The price is above a support level of 5 cents, and if it drops below, the tokens could slip to as low as 3 cents, price charts show.

The Tron-based stablecoin USDD fell 3 cents, effectively losing its intended peg to the U.S. dollar. Such price action caused the value locked on Tron-based decentralized applications to fall by 2%,

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