How far does the US dollar lag behind the dollar in the stablecoin race? The data indicates…

The US dollar, the decentralized and over-secured Tron stablecoin USDD, had an impressive third quarter after a chaotic second quarter.

Some good news

tracksRecently Leading Cryptographic Analysis Platform chirp Certain metrics with respect to USDD. According to the same order, the number of wallets using US dollar-for-dollar increased 5-fold in the third quarter alone.

In fact, as shown in the chart attached to this, the number of shareholders has increased significantly in the last quarter. Stand growth stabilized at around 120,000, with portfolio average remaining 6000 USD .

Source: messari

However, the rate of growth in supply has slowed. In the last quarter, the supply of the US dollar against the US dollar only grew with it 0.2%. However that was not all. Besides the increase in supply, the trading volume of the US dollar also decreased.

As can be seen, the volume has decreased significantly in the last month. It seemed clear that there was a lot of room for the US dollar to grow in this section, which means that the US dollar still has a long way to go on the adoption front.

Source: feeling

When it comes to stablecoin collateral, most USDD is backed by USDC. However, USDT and Bitcoin are also part of the USDD equation. Although it does not bring much safety to the overall US dollar, the massive volatility of BTC could affect US dollar reserves if things go south.

Source: messari

On the social front, the number of USDD social mentions and interactions has seen a massive increase over the past week.

according to LunarCrushThe number of references to USDD increased by 311% over the past week. Its engagement also increased by 168% over the same time period.

Some news is not good

Despite the massive rise in signals and correlations, sentiment towards the US dollar continued to be negative. In fact, the US dollar weighted sentiment was negative during the week, indicating that the crypto community has a negative view of the US dollar.

Source: feeling

Although USDD managed to see a growth in the number of wallets it failed Significantly deviates from the dollar pegIThere are still shortcomings that must be taken into account. It is still uncertain whether USDD will succeed in continuing to grow and being able to compete with the likes of USDT And the USDC.

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