DecentralandTrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether – CoinDesk
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TrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether CoinDesksource (adsbygoogle =
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According to CoinDesk, the price of TrueUSD (TUSD) on Binance.US dropped to 80 cents against the US dollar-pegged stablecoin Tether (USDT) on Monday, a steep depeg of nearly 20% compared to its previous price. This unexpected move has caused a significant impact on the cryptocurrency market, as it is indicative of a potential lack of trust in the US dollar-backed asset.
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Frequently asked questions
What is TrueUSD?
TrueUSD is a cryptocurrency backed by US dollars, designed to minimize the volatility of other cryptocurrencies.
How is TrueUSD depegging on Binance.US?
TrueUSD is dropping to 80 cents against Tether (USDT) on Binance.US, meaning it is no longer pegged to the US dollar.
What does this mean for TrueUSD holders?
This could mean potential losses for TrueUSD holders, as the value of TrueUSD is no longer tied to the US dollar.
Is there a way to protect against this price drop?
Investors can use hedging strategies to limit their downside risk and protect their investments from potential losses.
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