Thursday, May 29, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

TrueUSD’s slip from $1 peg deepens amid broader sell-off as FDUSD thrives

January 23, 2024
in Crypto Exchanges
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Exchanges
Share on FacebookShare on TwitterShare on E Mail



TrueUSD (TUSD) deviation from its $1 peg has widened beneath the present crimson market scenario.

Information from CryptoSlate reveals that the stablecoin dipped as little as $0.9778 previously 24 hours, coinciding with substantial sell-offs seen within the main cryptocurrencies like Bitcoin and Ethereum.

On Jan. 16, CryptoSlate highlighted elevated volatility in TUSD’s worth as holders opted to liquidate their belongings in favor of competing stablecoins like Tether’s USDT.

Addressing these issues, the mission’s workforce attributed the deviations within the asset’s worth to group mining actions related to Binance Launchpool. They affirmed the performance of their redemption channels and the asset’s day by day routine attestations.

Buying and selling information signifies that group apprehensions persist regardless of this clarification, as evidenced within the TUSD Curve pool. The dashboard reveals that the stablecoin accounts for almost 90% of the pool’s $70,000 reserve. In distinction, USDT contains round 6%, with Circle’s USD Coin (USDC) and DAI comprising 4%.

Moreover, TUSD’s whole liquidity on the Uniswap decentralized alternate stands at a modest $31,000, and its buying and selling quantity previously day stays under $1000.

Over the previous yr, TUSD has encountered notable challenges, together with possession controversies tying it to Justin Solar and points about potential publicity to bankrupt crypto custodial agency Prime Belief.

These challenges have adversely affected the stablecoin’s provide, witnessing a greater than 43% decline over the past two months to $1.9 billion, based on CryptoSlate’s information. TUSD had seen a dramatic uptick the earlier yr, climbing to a peak of $3.5 billion in September from $840 million in the beginning of the yr.

FDUSD rising

First Digital USD (FDUSD) is rising as a major winner amidst these TUSD challenges.

Binance’s desire for FDUSD has contributed to its exceptional market capitalization surge of $800 million this yr, reaching a powerful $2.65 billion as of press time, based on CryptoSlate’s information. Binance is the most important crypto alternate by buying and selling quantity.

Because the crypto buying and selling platform listed the asset in July 2023, FDUSD has quickly ascended to develop into the fourth-largest stablecoin by market cap, trailing behind USDT, USDC, and DAI. This ascent can be attributed to setbacks skilled by different stablecoins favored by Binance, similar to Binance USD (BUSD) and TUSD.



Source link

Tags: BroaderdeepensFDUSDPegselloffSlipthrivesTrueUSDs
Previous Post

Devastating fire destroys more than 4,000 paintings from national collection of Abkhazia

Next Post

FTX Token Price Prediction: FTT Surges 12%, But Investors Turn To This AI Presale With Only Hours Left To Buy

Related Posts

Bitcoin eyes $120,000 price zone as exchange flows, leverage surge
Crypto Exchanges

Bitcoin eyes $120,000 price zone as exchange flows, leverage surge

May 28, 2025
Tether invests $5 billion profit into US companies while holding $120 billion in US debt
Crypto Exchanges

Tether invests $5 billion profit into US companies while holding $120 billion in US debt

May 27, 2025
Changelly Introduces Crypto Alerts to Help You Stay Ahead of Market Swings
Crypto Exchanges

Changelly Introduces Crypto Alerts to Help You Stay Ahead of Market Swings

May 26, 2025
Crypto Current: AI, Bitcoin & Market Shifts
Crypto Exchanges

Crypto Current: AI, Bitcoin & Market Shifts

May 26, 2025
Talking beers, bars, and $80 million losses with SportFi pioneer Chiliz’s Max Rabinovitch 
Crypto Exchanges

Talking beers, bars, and $80 million losses with SportFi pioneer Chiliz’s Max Rabinovitch 

May 25, 2025
BlackRock’s IBIT leads all US ETF inflows following Bitcoin’s historic rally to new ATH
Crypto Exchanges

BlackRock’s IBIT leads all US ETF inflows following Bitcoin’s historic rally to new ATH

May 24, 2025
Next Post
FTX Token Price Prediction: FTT Surges 12%, But Investors Turn To This AI Presale With Only Hours Left To Buy

FTX Token Price Prediction: FTT Surges 12%, But Investors Turn To This AI Presale With Only Hours Left To Buy

One Week, Multiple Milestones by Axie Infinity’s Sky Mavis

One Week, Multiple Milestones by Axie Infinity's Sky Mavis

Why Is Bitcoin Censorship Resistant?

Why Is Bitcoin Censorship Resistant?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In