Stablecoin

2024

Bitcoin

TrueUSD

<a href="https://bitcoinworld.co.in/backslash-as-trueusd-tusd-depeg-below-1-trueusd-no-longer-true/" title="Backslash As TrueUSD (TUSD) Depeg Below $1, TrueUSD No Longer True?" rel="noopener noreferrer nofollow"></a>
<a href="https://coinstats.app/coins/trueusd/" rel="noopener noreferrer nofollow">TrueUSD (TUSD)</a> experienced a significant depeg event, sparking backlash across exchanges and social media.
<h3 id="span-style-font-weight-400-trueusd-falls-below-1-peg-sparks-concerns-span">TrueUSD Falls Below $1 Peg, Sparks Concerns</h3>
In the past 24 hours, TrueUSD (TUSD) experienced a considerable de-pegging from its $1 price level, presently trading around $0.9902, after rising from its initial low of $0.9878 according to Coinstats data.&nbsp;
This rare event for a major stablecoin sparked heated reactions across exchanges and social media.
The price divergence first appeared just after midnight on Jan 15, as TUSD dipped below $1 amidst frenzied selling on Binance.&nbsp;
TUSD ultimately dropped as far as $0.984 at one point, representing a significant deviation from its intended stability.
Analysts pointed to the number of outflows on Binance as evidence.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/trueusd-stablecoin-tusd-depegged-to-0-985-amid-selloff/" aria-label="“TrueUSD Stablecoin (TUSD) Depegged To $0.985 Amid Selloff” (Edit)" rel="noopener noreferrer nofollow">TrueUSD Stablecoin (TUSD) Depegged To $0.985 Amid Selloff</a>
<h3 id="trueusd-no-longer-true">TrueUSD No Longer True</h3>
According to available data, Binance saw over $369.2 million worth of TUSD selling activity in the last 24 hours compared to only $239.1 million in buy orders.&nbsp;
The resulting net outflow of $130 million indicates traders rapidly converting significant TUSD holdings into other cryptos such as Bitcoin or rival stablecoin Tether.
Stablecoin <a href="https://twitter.com/NoCryptFish/status/1745081696930660483" rel="noopener noreferrer nofollow">commentators</a> expressed concerns about the state of TUSD’s reserve collateralization, pointing to reports that TUSD’s attestation system has struggled to provide updated USD valuations in recent days.&nbsp;
The team behind TUSD has not yet issued a public statement.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The realtime attests of TUSD stopped working since yesterday, which potentialy means that it was reported as undercollatelised. (see status description in the pic)<a href="https://twitter.com/tusdio?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@tusdio</a> <a href="https://twitter.com/The_NetworkFirm?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@The_NetworkFirm</a> any comments? <a href="https://t.co/s4vsa7Gz4o" rel="noopener noreferrer nofollow">pic.twitter.com/s4vsa7Gz4o</a>
 — Symbio (@NoCryptFish) <a href="https://twitter.com/NoCryptFish/status/1745081696930660483?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 10, 2024</a>
</blockquote>
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The post <a href="https://bitcoinworld.co.in/backslash-as-trueusd-tusd-depeg-below-1-trueusd-no-longer-true/" rel="noopener noreferrer nofollow">Backslash As TrueUSD (TUSD) Depeg Below $1, TrueUSD No Longer True?</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Backslash As TrueUSD (TUSD) Depeg Below $1, TrueUSD No Longer True?

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