At the official launch of trading on Binance a relatively new stablon TrueUSD (TUSD) has maintained its peg to the dollar, rising only slightly to $1,02. At some point the price of the coin made the leap to $1.10, but quickly corrected. This time the leap was significantly lower than that observed a few days ago ($1,30), when the price stablon influenced by the trading bots.
Trading volume TUSD has increased to about $12 million in 24 hours. When you start trading on Binance number of tokens in circulation was increased to more than 18 million is a significant increase in proposals in recent months, given that when you start TUSD was involved 4 million tokens.
According to the team TrustToken Twitter, TrueUSD on Binance involved in pairs with bitcoin, ether and BNB — token Binance.
Thanks to the choice of such pairs, the coin will not add liquidity in Aldon markets, as it does USDT. Instead, TUSD will insure against fluctuations of bitcoin, and air BNB.
Own cryptocurrency exchange under the name Binance Coin (BNB) is also used as a source of liquidity, but its volatile exchange rate complicates the trading decisions. After bitcoin approached $8000, the rate of the BNB is around $14-16.
Trade TUSD has not yet acquired extensive popularity, and daily sales below total supply. As for the main competitor — Tether, its share in the cryptocurrency trading has been established at 15%, and the volume equal to the total number of these coins, is trading more than one time per day around the world.
TUSD is generated only when users intend to buy new coins for cash through the app. Most often, the issue of coins is parties. According to Twitter, the smart contract TrustToken “print” as many coins as dollars will be in the accounts of third-party intermediaries, and sometimes the demand can exceed supply.
At the time of writing, the turnover was 18 562 192 TUSD. An additional $12 million on the stock exchange is a drop in the bucket compared to bitcoin, but in the future TUSD can play a significant role in increasing liquidity and trading volumes.