TrueUSD Stablecoin Falls Below $1 Peg Amid Sell-Offs and Concerns Over Attestations
According to CoinDesk Indices data, the trueUSD (TUSD) stablecoin is currently trading at $0.988, below its intended $1 peg. Crypto exchange Binance has seen $444 million in TUSD sell orders versus $301 million in buy orders in the last 24 hours, resulting in a flow deficit of $142 million. Analysts suggest that the decline in TUSD may be due to concerns over attestations and the potential impact of recent hacks, as well as Binance not including TUSD as an option for staking new tokens on its Launchpad. However, a spokesperson for Techteryx, the firm behind TUSD, has stated that attestations continue as normal and Justin Sun is not a shareholder.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Treasury Targets Houthi Crypto Wallets, Financial Network
Securitize Reports Highest-Ever Dividend of $4.17 Million for Tokenized Treasury Product
Market Turmoil Hits Pi Network: Investors Face Uncertain Future
In Brief Pi Network's value has sharply declined, alarming many within the community. Experts predict a potential price drop of Pi Coin to $0.1 if trends continue. Investor confidence remains shaky due to regulatory and technical uncertainties.
1 in every 5 Americans hold Crypto: Ripple CLO
Trending news
MoreCrypto prices
More
