What is TrueUSD (tUSDT)? Know Better about It Here!

Stablecoins reached their peak in 2022. After a decline, stablecoins are now in demand again this year. One such stablecoin is TrueUSD. Find out more about this stablecoin.

What is TrueUSD (tUSDT)?

TrueUSD or TUSD is a stablecoin whose value is always equal to the US Dollar or 1:1. This stablecoin is known for its independent audits and reserve transparency through direct verification on the blockchain, this successfully builds trust and confidence.

There are several reasons why TUSD is increasingly in demand:

• Integration with Binance: TUSD is now an important player in the Binance ecosystem. Traders can use it to:
  • Invest in new tokens on Binance Launchpad.
  • Margin trading on Binance Futures, managing risk during market volatility.
  • Trade across 44 TUSD pairs with high 24-hour trading volume.

• DeFi Compatible: TUSD works seamlessly with popular DeFi platforms such as PancakeSwap and Ellipsis, demonstrating its flexibility.
• Increased Credibility : Live reserve audits and Chainlink integration strengthen TUSD's reputation as a reliable and secure asset.

Check today's stablecoin prices in real-time:

tUSD Key Metrics

TrueUSD stands out in the stablecoin market thanks to its significant supply and consistent trading volume. Despite operating in a competitive environment dominated by large players such as USDT and USDC, TrueUSD maintains a strong presence.

Token supply

TUSD token supply exceeds 3 billion, although lower than USDT and USDC supply, it exceeds DAI and is comparable to BUSD, indicating strong usage and investor confidence.

Trading Volume

With a 24-hour trading volume exceeding 200 million, TUSD shows active trading, although it lags behind the significant volume seen on USDT and USDC. 

The advantage of TUSD lies in its availability on multiple chains, including Ethereum, TRON, and BNB Chain, providing users with flexibility across various DeFi platforms and applications.

TUSD Ecosystem

Exchange

The TrueUSD ecosystem is showing significant strength in trading volume across major crypto exchanges, signaling increasing adoption and gaining trust among traders.

The rise in popularity of TrueUSD is not only reflected in its volume but also in its utility in various financial operations on exchanges. From standard trading to futures contracts and margin trading, TUSD stands out in a variety of trading applications.

Chain

According to the latest report from October 2023, here is the distribution of TrueUSD across a number of blockchain networks:

• TRON: Leads the way with the highest number of TUSD tokens, with the benefits of fast transactions and low fees attractive to users and developers.
• Ethereum: Backs the majority of TUSD supply, making it the dominant chain for TrueUSD users leveraging its powerful smart contract capabilities and expansive ecosystem.

• BNB Smart Chain: shows the attractiveness of Binance's internal market and DApp environment.

DeFi

Integration to PancakeSwap on BNB Smart Chain allows users to trade TUSD directly with other stablecoins, especially the TUSD/USDT pair which sees significant daily trading volume exceeding $5 million USD.

Additionally, TrueUSD is accessible on decentralized exchange Curve Finance, where the crvUSD/TUSD trading pair recorded nearly $1 million in 24-hour trading volume and has liquidity of $4.2 million.

Conclusion

The popularity of TrueUSD or tUSD as a stablecoin will continue to increase from year to year. New opportunities for stablecoins like TUSD to play a role in a more integrated financial system.

Also read: 

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.