TUSD Hits Record Low Amid Binance Sell Orders and USDT Preference

Share on Facebook Share on Twitter

The Fall of TUSD: An Analysis

In a surprising event, the fifth-largest stablecoin, True USD (TUSD), has fallen below its ideal peg of $1. This is the lowest level that TUSD has fallen to since its launch almost six years ago.

TUSD Falls Below $1

According to an analysis by CoinMarketCap, TUSD began to slip below the peg at 11:00 UTC on January 15 and fell to as low as $0.984 by 23:15 UTC.

TUSD Being Abandoned in Favour of USDT?

With the news of the decoupling, market observers noticed an increase in sell orders for TUSD on the leading cryptocurrency exchange Binance. In fact, outflows of nearly $128 million from the exchange were recorded in the last 24 hours. Notably, USDT saw a significant capital increase at this time, leading participants to believe that TUSD was being redeemed in favour of the king of stablecoins.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

Concerns Regarding TUSD

Concerns about TUSD began to emerge when difficulties in real-time confirmation of its reserves occurred, potentially implying that the stablecoin was under-collateralized. This is a risk as it suggests that there may not be enough collateral to honour withdrawals in a crisis.

Binance Giving TUSD the Cold Shoulder?

The exclusion of TUSD from Binance’s latest MANTA Launchpad also caused a stir. Notably, the Launchpad awards new tokens to investors who lock up assets for a certain period. Without an option for TUSD, holders may have begun to redeem it against Binance’s new favourite, FDUSD.

TUSD was supported by Binance in March following the decline of Binance USD due to regulatory overviews. Binance began aggressively promoting TUSD, backed by its successful no-fee trading program. However, as it turned out, Binance removed the fee exemption for the said pair in early September. While a plausible reason for the move was not clear yet, rumours of exposure to the bankrupt crypto custodian Prime Trust circulated for a while.

TUSD’s market capitalization has since decreased, while FDUSD has grown over the same period. It became apparent that Binance has directed its full attention to FDUSD.

Conclusion

The events surrounding TUSD demonstrate how volatile and uncertain the world of cryptocurrencies can be. It is important to always stay informed and make informed decisions. So, stay tuned for more updates and analyses in the world of online casinos and cryptocurrencies.

Share on Facebook Share on Twitter

The 3 best crypto casinos

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (11)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Isabella Brown on 10. June 2024
Anjuan Gaming
Anjouan
Licence
Curaçao License
Curaçao
Licence
Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
Cryptocurrencies (25)
  • Toncoin
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 19. June 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Michael Schmitz on 14. June 2024
Curaçao License
Curaçao
Licence

Latest News

Paula Winkler

Created by

After over 6 years in print journalism, I stumbled into the iGaming niche in 2017. One thing became evident to me quickly: Online Casino Reviews need more transparency! I joined the Kryptocasinos.com Team in 2023 and are the main expert for all topics related to „Player Security“.
In my private life, I am an active member of the volunteer fire department and enjoy the outdoors with my dog Ruby.
Reviewed by
Nerd of Numbers

Last update: 11. June 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare