• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
The market capitalization of the stablecoin TUSD dropped by 79 percent after being delisted from Binance

The market capitalization of the stablecoin TUSD dropped by 79 percent after being delisted from Binance

user avatar

by Eve Adams

2 years ago

The market capitalization of the stablecoin TrueUSD (TUSD), created by the cryptocurrency platform TrustToken, has significantly decreased, dropping by 78.9% after the removal of several pairs with this crypto asset from the largest cryptocurrency exchange Binance. This was reported by analysts from the CCData service.

TUSD: Market Cap

In the latest research report on the stablecoin market, CCData noted that since May 2023, the monthly trading volume of TUSD pairs has dropped by nearly 99%, reaching only $569 million. This significant decline indicates serious problems faced by the stablecoin after delisting.

Binance remains the dominant exchange trading most of the TUSD pairs with a market share of 68.2%. It is followed by WhiteBit and BITMARTF with market shares of 13.4% and 5.32%, according to the CCData analysts' report.

TrueUSD was launched in March 2018 by the TrustToken platform, founded by Rafael Cosman, Stephen Kade, Jai An, and Tory Reiss. This stablecoin, pegged to the US dollar, was designed to ensure transparency and reliability of payments.

However, after its removal from Binance and issues with custodian Prime Trust, TUSD lost its peg to fiat currency several times. These events have raised serious concerns among investors about the stability and reliability of this asset, further exacerbating its market position.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

New York AG Letitia James Sues Coinbase and Gemini Over Illegal Gambling

chest

New York Attorney General Letitia James has filed a lawsuit against Coinbase and Gemini for allegedly operating illegal prediction markets without the necessary licenses.

user avatarDavid Robinson

Amazon Expands Partnership with Anthropic with $25 Billion Investment

chest

Amazon has announced a significant investment in AI startup Anthropic, enhancing their partnership with a total potential stake of $33 billion.

user avatarAndrew Smith

XRP's Role in DeFi Sparks Controversy

chest

A heated debate has emerged regarding XRP's position in the decentralized finance sector, highlighting the importance of reliability in protocol design.

user avatarJacob Williams

XRP's DeFi Ecosystem Surges Towards 160 Million Tokens

chest

The FXRP supply is rapidly approaching 160 million tokens, showcasing the growing adoption of XRP within the decentralized finance landscape.

user avatarZainab Kamara

Arbitrum Security Council Takes Emergency Action to Freeze Funds Linked to KelpDAO Exploit

chest

The Arbitrum Security Council has taken emergency action to freeze 30,766 ETH linked to the KelpDAO exploit, following law enforcement input.

user avatarSon Min-ho

The Ultimate Hodl Story: A Journey to 1 Billion

chest

An investor turned a modest investment into a billion-dollar profit by holding onto Bitcoin through multiple bear markets.

user avatarAyman Ben Youssef

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.