Stablecoin TUSD fell by 79% after being excluded from the Finance crypto exchange
The capitalization of the stablecoin TrueUSD (TUSD), launched by the TrustToken cryptocurrency platform, fell by 78.9% after several pairs with the cryptoasset were excluded from the largest exchange Binance. Analysts from the CCData service reported this.
In the latest stablecoin market research report, CCData reported that monthly trading volume of TUSD cryptocurrency pairs has fallen by almost 99% to $569 million since May 2023 on Binance. remains the dominant exchange that trades the majority of TUSD pairs with a market share of 68.2%. It is followed by WhiteBit and BITMARTF with a market share of 13.4% and 5.32%, says a report by CCData analysts. TrueUSD was launched in March 2018 by the TrustToken platform, co-founded by Paphael Kosman, Stephen Cade, Jai An and Topi Reiss. A stablecoin pegged to the US dollar was developed to ensure payment transparency. After its removal from the Binance exchange and problems with the Prime Trust custodian, TUSD several times lost its peg to fiat currency, which caused fears among investors about the reliability of the asset.
