TrueUSD Stablecoin Falls Below $1 Peg Amid Sell-Offs and Concerns Over Attestations

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Cointime2024/01/16 08:32

By:Cointime

According to CoinDesk Indices data, the trueUSD (TUSD) stablecoin is currently trading at $0.988, below its intended $1 peg. Crypto exchange Binance has seen $444 million in TUSD sell orders versus $301 million in buy orders in the last 24 hours, resulting in a flow deficit of $142 million. Analysts suggest that the decline in TUSD may be due to concerns over attestations and the potential impact of recent hacks, as well as Binance not including TUSD as an option for staking new tokens on its Launchpad. However, a spokesperson for Techteryx, the firm behind TUSD, has stated that attestations continue as normal and Justin Sun is not a shareholder.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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