Rally

Bitcoin

TrueUSD

<ul> 
 <li>The data that has emerged shows that a stablecoin called TUSD may have made a significant contribution to Bitcoin’s upward momentum.</li> 
 <li>According to the data, the circulating supply of TUSD has experienced significant increases of over $1 billion in only three different periods since 2018.</li> 
 <li>The BTC/TUSD trading volume surpassed BTC/USDT and indicated that TUSD is becoming increasingly dominant as a trading pair.</li> 
</ul> 
While factors such as ETF applications have been suggested for Bitcoin’s recent rise, TUSD stablecoin may have made a significant contribution. 
<h2 id="strong-tusd-contributed-to-the-bitcoin-rally-strong">TUSD Contributed to the Bitcoin Rally</h2> 
<img decoding="async" loading="lazy" class="alignnone size-full wp-image-126932" src="https://en.coinotag.com/wp-content/uploads/2023/04/Is-Bitcoin-Ready-for-a-Rise-BTC-Price-Analysis.jpg" alt="Bitcoin (BTC)" width="1920" height="1080"> 
The recent price increase in Bitcoin has sparked curiosity and discussions within the crypto community. While some attribute the rally to factors such as Blackrock’s ETF or short squeeze, the data that has emerged shows that a stablecoin called TUSD may have made a significant contribution to Bitcoin’s upward momentum. 
According to the data, the circulating supply of TUSD has experienced significant increases of over $1 billion in only three different periods since 2018. These events occurred in May 2021, February 2023, and June 2023. 
Interestingly, after each increase, Bitcoin rallied within a relatively short period of time. 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/How-did-TrueUSD-TUSD-contribute-to-the-Bitcoin-rally.jpeg"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134159 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/How-did-TrueUSD-TUSD-contribute-to-the-Bitcoin-rally.jpeg" alt="tusd-supply-bitcoin-price" width="1495" height="861"></a> 
TUSD Circulating Supply and Bitcoin Price 
Currently, Tron accounts for 76.45% of the total supply of TUSD, while Ethereum holds a 22.5% share. When looking at the distribution of TUSD supply among different exchanges, it is evident that Binance is overwhelmingly dominant. 
Additionally, the BTC/TUSD trading volume surpassed BTC/USDT and indicated that TUSD is becoming increasingly dominant as a trading pair. 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1687609292_655_How-did-TrueUSD-TUSD-contribute-to-the-Bitcoin-rally.jpeg"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134160 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1687609292_655_How-did-TrueUSD-TUSD-contribute-to-the-Bitcoin-rally.jpeg" alt="tusd-exchange-balance" width="1495" height="861"></a> 
TUSD Amount on Exchanges 
Ki Young Ju, the CEO of CryptoQuant, suggested that TUSD follows a similar curve to USDT. It appears that TUSD no longer serves the function of directly converting cryptocurrencies to fiat currency. However, it is still possible to convert TUSD to other cryptocurrencies on different exchanges. 
When comparing the growth of TUSD and USDT, it is clear that both stablecoins have the potential to benefit Bitcoin in the future. Although the issuance rate of USDT has slowed down, the expanding supply of TUSD may continue to impact the market. 
<h2 id="strong-traders-turning-bullish-strong">Traders Turning Bullish</h2> 
Traders are currently focusing on the upcoming expiration date of 31,000 BTC options. These options have a Put Call Ratio of 0.73, a maximum pain point set at $27,000, and a significant value of $930 million. This data indicates relatively high demand for call options, which suggests a bullish sentiment among traders. 
The maximum pain point serves as an area of interest for market participants and can influence trading decisions. With such a large value involved, the expiration of these BTC options could lead to increased market volatility and potential price fluctuations. 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1687609292_460_How-did-TrueUSD-TUSD-contribute-to-the-Bitcoin-rally.jpeg"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134161 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1687609292_460_How-did-TrueUSD-TUSD-contribute-to-the-Bitcoin-rally.jpeg" alt="bitcoin-options" width="1146" height="812"></a> 
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How did TrueUSD (TUSD) contribute to the Bitcoin rally?

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