TrueUSD keeps growing, with more than 40 million TUSD tokens supplied and backed by fiat funds in escrow. The asset has also become a part of the Binance ecosystem, also exchangeable for the leading fixed-price coin, Tether (USDT).
TrueUSD has surpassed a $40MM market cap and demand is continuing to grow. The market cap is a reflection of the actual dollars in the escrow account that are backing the TUSD stablecoin.
The total supply for TUSD, according to Etherscan, is more tna 41.3 million tokens, distributed over 238 addresses. The reason for the relatively limited number of ETH wallets is that the asset is immediately sent to exchanges.
For TUSD, trading volumes are picking up more consistently, growing to around $14 million in 24 hours - still small-scale compared to the $2.64 billion trading in Tethers. The market for TUSD against Tethers is around $5 million in 25 hours.
But even if, in theory, someone tried to use TUSD as a fiat off-ramp, it would be difficult to move large enough funds.
TUSD appeared at a moment when the activity of the crypto market has been subdued. Even Tethers, despite their relative influence, have seen a less active turnover. The entire crypto market volume has been lowered, to around $16 billion in 24 hours, while Bitcoin volumes have shrunk to a steady $5 billion in 24 hours.
The reason for adding fixed-price tokens is better ease of moving funds between exchanges. Tokens are immediately transferable and anonymous, and avoid the need for expensive regulations when working with fiat. However, TUSD is still viewed with skepticism, mostly due to the influence of Tether.
Recently, Bittrex has launched a limited fiat on-ramp for large-scale investors. The direct purchases of crypto coins with cash will be available for Bitcoin, but also Tethers and TUSD. In this way, Bittrex is inadvertently giving support to the TUSD project, by inviting inflows of cash. In the future, the supply of TUSD may continue to increase significantly. So far, the growth of TUSD supply looks more organic, with no round number tranches.
TrueUSD has surpassed a $40MM market cap and demand is continuing to grow. The market cap is a reflection of the actual dollars in the escrow account that are backing the TUSD stablecoin.
The total supply for TUSD, according to Etherscan, is more tna 41.3 million tokens, distributed over 238 addresses. The reason for the relatively limited number of ETH wallets is that the asset is immediately sent to exchanges.
For TUSD, trading volumes are picking up more consistently, growing to around $14 million in 24 hours - still small-scale compared to the $2.64 billion trading in Tethers. The market for TUSD against Tethers is around $5 million in 25 hours.
But even if, in theory, someone tried to use TUSD as a fiat off-ramp, it would be difficult to move large enough funds.
TUSD appeared at a moment when the activity of the crypto market has been subdued. Even Tethers, despite their relative influence, have seen a less active turnover. The entire crypto market volume has been lowered, to around $16 billion in 24 hours, while Bitcoin volumes have shrunk to a steady $5 billion in 24 hours.
The reason for adding fixed-price tokens is better ease of moving funds between exchanges. Tokens are immediately transferable and anonymous, and avoid the need for expensive regulations when working with fiat. However, TUSD is still viewed with skepticism, mostly due to the influence of Tether.
Recently, Bittrex has launched a limited fiat on-ramp for large-scale investors. The direct purchases of crypto coins with cash will be available for Bitcoin, but also Tethers and TUSD. In this way, Bittrex is inadvertently giving support to the TUSD project, by inviting inflows of cash. In the future, the supply of TUSD may continue to increase significantly. So far, the growth of TUSD supply looks more organic, with no round number tranches.