Stablecoin TrueUSD Struggles: Depeg Causes Turmoil in Crypto Market

2023-6-10 09:24

In a surprising turn of events, TrueUSD (TUSD), a staple in the stablecoin market, has deviated from its peg to the US Dollar.

Historically, stablecoins like TUSD have been pivotal in facilitating cryptocurrency trade due to their inherent stability, pegged to traditional assets. However, TUSD’s recent fall to $0.9951 has unsettled this assumption, thus wreaking havoc in the crypto market.

Stablecoin TrueUSD Loses Peg. Source: CoinGecko

The sudden dip in value was followed by an announcement from TrueUSD stating that TUSD mints via Prime Trust, Prime Trust, a crypto custody specialist regulated in the state of Nevada, are “paused for further notification.”

“TUSD minting and redemption services remain unaffected and will continue to operate as usual. We want to assure you that our partnerships with other banking institutions remain intact, allowing for seamless transactions,” reads the statement.

Stay informed about the latest developments in the stablecoins market sector by joining the Top 11 Crypto Communities in 2023!

This unexpected move has raised questions about the stability of stablecoins, given their crucial role in the overall crypto ecosystem.

This is a developing story…

The post Stablecoin TrueUSD Struggles: Depeg Causes Turmoil in Crypto Market appeared first on BeInCrypto.

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market crypto trueusd turmoil stablecoin struggles causes

Источник: beincrypto.com

market crypto → Результатов: 126


Фото:

Pepeto and Pepe Unchained Contend in Competitive Memecoin Market With Zero-fee Trading and Cross-Chain Solutions

As the crypto market continues to soar following Bitcoin’s bullish momentum, crypto startups with strong narratives and valuable utilities are increasingly entering the spotlight. The latest crypto developments have revealed that Pepeto and Pepe Unchained are ushering the market to an era of zero-fee trading and cross-chain solutions vs.

2024-12-1 23:54


Фото:

Crypto Analyst: Bull Market Hinges On This Indicator Reaching 45%

In a detailed post on X, crypto analyst Jamie Coutts outlined various indicators he monitors to gauge when the market might pick up bullish momentum. Crypto Market Might Be In The Final Stage Of The Bearish Phase Coutts, Chief Crypto Analyst at the financial knowledge and education platform RealVision, noted that the cryptocurrency market has gradually declined.

2024-9-20 05:30


Why PlayDoge, Floki, and WW3 Shiba Are Poised As The Next Breakout Stars In Crypto: Unveiling Their Potential For Disruption And Market Domination

Despite previous market sentiments, one of the best things about the digital currency market is that the value of the right crypto can skyrocket unexpectedly. A very good example is Solana (SOL), which, three years ago, displayed an incredible performance, going up in value by 10,000%! Similarly, around the same […]

2024-6-25 20:25


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Indian Regulators Advocate CBDC Over Bitcoin and Ethereum

Indian regulators prefer CBDCs over private cryptocurrencies like Bitcoin, citing safety, inclusion, and tighter control, while leveraging blockchain benefits. The post Indian Regulators Advocate CBDC Over Bitcoin and Ethereum appeared first on BeInCrypto.

Ripple Gains Global Exchange Support for RLUSD Stablecoin Release

Ripple launched RLUSD, its USD-backed stablecoin, partnering with exchanges for global reach. RLUSD targets enterprise-grade use cases, focusing on compliance and liquidity. The post Ripple Gains Global Exchange Support for RLUSD Stablecoin Release appeared first on BeInCrypto.