Binance begins with the character of True USD (TUSD) because the Tru Prize explodes
Binance begins with the character of True USD (TUSD) because the Tru Prize explodes
Binance began with the characteristics of True USD (TUSD) in response to a procedure for the US regulatory authorities against his own StableCoin Busd.
On February 16, the world's largest crypto exchange shaped 50 million TUSD according to blockchain investigators. True USD was introduced in 2018 and noted in Binance in May this year.
tusd is the sixth largest stable coin, but with a market share of less than 1 % with a circulation of $ 973 million, an element of elements in the ecosystem. The TUSD offer in circulation has increased by 29 % since the beginning of this year.
50m #tusd #binanz and the price of $ Tru increased.
on-chain data show the TUSD . target = "_ blank" href = "https://twitter.com/hashtag/alameda?src=hash&ref_src=twsrc%5etfw" Data-Wpel-Link = "External">#alameda Total 1,64b tusd in history. #Justinsun Total 889m. href = "https://twitter.com/search?q=%24tusd&src=ctag&ref_src=twsrc%5etfw" Data-Wpel-Link = "External"> Tusd in history. pic.twitter.com/n1tujfqm5u
- Lookonchain (@lookonchain) 16. February 2023
Binance searches for alternatives
Last week, the BusD-Mittent Paxos received a message from Wells from the SEC, in which the intention of the supervisory authority was signaled to take enforcement measures. The company regulated by New York has announced since then that it will hire Busd's characteristics on February 21st.After the news there was a rush of repatriations, and Binance has now started to look for alternatives. The company stated that its stablecoin was fully supported and continued to support.
Lookonchain also revealed that Alameda had taken care of $ 1.6 billion in Trueusd and Justin Sun had shaped $ 889 million in history in history.
Since the regulatory measures against Busd, its market capitalization has decreased by 15 % or around $ 2.4 billion. It currently has an offer of $ 13.7 billion, which corresponds to a market share of 10 %.
Busd this week was responsible for more than a third of the entire trading volume on Binance.
Tru price increase
Crypto Degens incorrectly connected to the defi platform True Finance. However, true USD emissions and the defi platform were separated and are no longer connected.
In 2020, TUSD soldTrustoken to a conglomerate based on Techteryx. In addition, Trustoken separated from the TrueFi protocol in June 2022 and was renamed Archblock.
The tru prices exploded by more than 200 % and reached an intra-raday high of $ 0.135 from a low of $ 0.044. The defi token is currently being traded at $ 0.087 because the Fomo fades and Degens realize that there was no connection between the two.
In addition, the trading volume for the token rose from around $ 2 million to $ 250 million.
tru was hit hard in the Baisse, like most defi tokens. It is currently 91 % below his all -time high of August 2021 from just over one dollar.
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