![]() The adoption by Binance and the zero-fee trade promotion skyrocketed the stablecoin’s volume. ![]() Binance also minted $50 million in TUSD in February. Recall that TUSD gained the spotlight in February when Binance adopted it after abandoning BUSD due to regulatory issues Paxos faced with the NYDFS. Also, in July, Kaiko raised concerns about its relative lack of transparency compared to other stablecoins. The stablecoin dropped to $0.80 on the exchange before eventually picking up. Nonetheless, amid the growing concerns, TUSD de-pegged on Binance.US. The team emphasized that Prime Trust’s regulatory issues do not affect TUSD or its general operation. However, the TrueUSD team assured that the minting of the stablecoin through other partners will continue. Please contact for any further questions. Thanks for your understanding and we are sorry for any inconvenience. TUSD mints via Prime Trust are paused for further notification. In June, Trust Token had to suspend redemption and minting of TUSD through Prime Trust. Click to transfer button assigned to DOT/USDT. The BTC/TUSD pair saw a rapid decline in volume.įurthermore, the shift could have been compounded by concerns surrounding TUSD following regulatory issues faced by Prime Trust, a partner to TUSD’s issuer, Trust Token. Zero to Hero: Learn cryptocurrency trading from scratch Martin Delaney. This has contributed to the shift in investor interest. Meanwhile, the BTC/FDUSD pair enjoys both zero maker and taker fees. However, Binance decided to re-introduce taker fees for the BTC/TUSD pair last week, allowing only zero maker fees. The exchange also removed maker fees for all trading pairs with TUSD in June. Recall that Binance had removed maker and taker fees on BTC/TUSD on March 11. This prevailing drop in TUSD volume on Binance comes shortly after the exchange re-introduced taker fees for the BTC/TUSD pair. BTC/FDUSD boasts a 24-hour volume of $345.64 million, while BTC/TUSD only sees $156.22 million in volume. Interestingly, despite FDUSD witnessing a lower market volume overall, the BTC/FDUSD trading pair commands a greater volume than the BTC/TUSD pair. Remarkably, USDT has dominated the entire stablecoin market on the exchange, with its share recently soaring to the 80% mark. TUSD has been relinquishing its market share on Binance to Tether (USDT), the largest stablecoin by market cap.
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