TRON DAO Reserve Bought BTC And TRX For $60 Million Amid Market Crash

TRON DAO Reserve Bought BTC And TRX For 60 Million

Amid the market collapse, the team behind the TRON DAO Reserve announced two acquisitions for the project’s stablecoin. In addition, they welcomed Ankr as the fourth member of the Reserve.

The past five days have been nothing short of turbulent in the cryptocurrency space, with bitcoin losing nearly $10,000 and the altcoins following. 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. The TRON DAO Reserve announced earlier today purchasing 500 BTC at an average price of $31,031 for over $15.5 million, as well as buying nearly 600,000,000 TRX for $45,641,630. In total, the organization has spent more than $60 million on the couple. It argued the move comes in an effort to “protect the overall blockchain industry and crypto market”. Separately, Justin Sun’s brainchild said it welcomed Ankr as the fourth member and was whitelisted.

In addition to the TRON DAO Reserve, El Salvador also bought the dip, as reported yesterday. The country’s president – Nayib Bukele – said the country bought the exact same amount (500 BTC) but at a slightly lower average price of $30,744.

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