TrueUSD stops minting via Prime Trust, loses dollar peg
The recent depeg comes as TrueUSD team announced a pause on TUSD minting through Prime Trust until further notice.
TrueUSD
The recent depeg comes as TrueUSD team announced a pause on TUSD minting through Prime Trust until further notice.
As of this writing, TUSD ranked as the number 31 asset in market capitalization.
The ARB/TUSD trading pair on Binance experienced a sudden drop to 0.35 TUSD, highlighting insufficient short-term trading depth. The trading volume of ARBs reached an impressive 724,000 units.
After TUSD suddenly rocketed to $1.20 on Monday, DeFi traders pushed lending rates for TrueUSD, the centralized stablecoin preferred by Binance following a regulatory crackdown on its own BUSD token…
TUSD’s newfound notoriety has unsurprisingly attracted scrutiny.
On May 3, an unidentified address burned 405m TUSD, equating to 16.2% of the stablecoin’s $2.51b reserves, on Tron (TRX)
Stablecoin TrueUSD (TUSD) depegged to $1.20 Binance crypto exchange on May 1 and has since returned to its peg.
Traders shorted TUSD to capture a 20% upside for the token’s intended $1 peg.
TrueUSD is quickly climbing the stablecoin dominance charts, thanks to Binance.
In a recent development in the world of cryptocurrency, a significant transaction of 56,100,000 TUSD (equivalent to $56,444,454) was transferred from Justin Sun, the founder of TRON and owner of…