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TrueUSD (TUSD) deviation from its $1 peg has widened under the current red market situation. Data from CryptoSlate shows that the stablecoin dipped as low as $0.9778 in the past 24 hours, coinciding with substantial sell-offs seen in the major cryptocurrencies like Bitcoin and Ethereum.
This week, spot Bitcoin ETFs recorded impressive inflows as the digital currency continued to battle the bears at the $41,000 mark.
The rise of TrueUSD (TUSD) as a stablecoin has seen many card providers integrate the token as a part of their services. In one such partnership, Bit.Store on Friday announced a new collaboration with TUSD.
TrueUSD (TUSD) depegged below its $1 parity, dropping to $0.97, amid significant selling on Binance and issues with real-time reserve attestations. The depegging was linked to activities on Binance Launchpool and raises questions about stablecoin stability and transparency.
The TrueUSD (TUSD) stablecoin recently experienced a period of instability, briefly dropping to 96 cents before recovering to 99 cents. This volatility was accompanied by reports of denied redemption requests, raising concerns within the cryptocurrency community.
Stablecoin TrueUSD (TUSD) has dropped below its $1 peg following a massive sell-off.
Embattled TrueUSD (TUSD) stablecoin attributed the asset's recent price deviations from the $1 peg to the “community mining activities associated with Binance Launchpool,” which resulted in “short-term arbitrage opportunities.” TUSD's value has recovered to $0.9904 as of press time after falling to as low as $0.9708 during the past day, according to CryptoSlate's data.
Traders have sold approximately $305 million worth of TUSD over the past day against only $129 million in buys.
TrueUSD's price fell to $0.97 on Jan. 18 despite its efforts to assure users of its fiat reserves.
TrueUSD (TUSD) team has clarified the recent depeg incident on the stablecoin.
TrueUSD (TUSD) recently experienced a significant de-pegging, plummeting to $0.9712 from its stable value. This comes after TUSD earlier dropped to $0.98.
Stablecoin TrueUSD has fallen down to $0.70 from its expected $1 peg after recent issues with its reserve attestation and quickly recovered
Some companies, however, are reporting redeem issues.
TUSD went as low as 96 cents as Binance data shows traders apparently sold over $300 million worth in the past 24 hours.
TrueUSD's depegging on January 15 caught the attention of the crypto community, prompting concerns and speculation. However, the TrueUSD (TUSD) team has clarified the reasons behind its recent depegging from the US dollar, attributing it to activities on Binance Launchpool.
Justin Sun-linked stablecoin TrueUSD (TUSD) has continued to depeg, hitting a low of $0.97 as traders continue to dump the stablecoin in favor of USDT.
Stablecoin TrueUSD (TUSD) dropped to a point of around $0.9708 on Thursday morning in Asia. TUSD has since slightly recovered.
The TrustToken-issued stablecoin experienced a significant decline, dropping to $0.985 from its one-dollar peg.
Market insights reveal that on January 15, 2024, the stablecoin TUSD deviated from its usual $1 parity, dipping to $0.979 per coin the next day. By 10:00 a.m. Eastern Time (ET) on Tuesday, it managed to recover slightly, climbing above the $0.99 mark.
TUSD experienced a decline to $0.985, signifying its second deviation from the $1 peg within the past two months.
In particular, the last 24 hours have seen a negative deficit of $142 million.
TrueUSD (TUSD) stablecoin experienced wild volatility the past day as it fell below the $1 peg amid its declining supply. Data from CryptoSlate shows that the stablecoin fell to as low as $0.984 during the reporting period and has yet to regain its peg as of press time.
In the past few hours, TrueUSD (TUSD), the stablecoin associated with Justin Sun, experienced a concerning depegging, falling below its fixed value of $1. This event, which took place around 11:00 am UTC on January 15, marked a significant decline, with TUSD reaching a minimum of $0.984 by 11:15 pm and currently trading at $0.988.
In a surprising turn of events, TrueUSD (TUSD), the stablecoin issued by TrustToken, has experienced a significant de-pegging, making it the first stablecoin of 2024 to face such a challenge. The sharp decline in value for the second time in recent months, fueled by whale actions and market dynamics, has intensified discussions about stablecoin vulnerabilities,
