DecentralandTrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether – CoinDesk
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•15 days ago
TrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether CoinDesksource (adsbygoogle =
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The price of TrueUSD on Binance.US has dropped from its usual one-to-one peg with Tether to around 80 cents, according to data from the trading platform. This is the first time the price of TrueUSD has dropped below its peg with Tether since being listed on Binance.US in July 2020. Analysts believe the de-peg of TrueUSD could be attributed to a number of factors, including a lack of liquidity on the platform and the uncertainty surrounding the stablecoin market. This development could have significant implications for the wider cryptocurrency market, as traders may now be more cautious when it comes to choosing between different stablecoins.
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Frequently asked questions
What is TrueUSD?
TrueUSD is a stabilized cryptocurrency pegged to the US Dollar, designed to minimize price volatility.
What exchange is TrueUSD listed on?
TrueUSD is listed on Binance.US, a major cryptocurrency exchange.
What happened to TrueUSD on Binance.US?
On Binance.US, the price of TrueUSD dropped to 80 cents against Tether.
What caused TrueUSD to depeg on Binance.US?
The exact cause of the depeg is unknown, but it is likely due to a lack of market stability.
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