Stablecoin TUSD Price Falls to $0.97, Keeps Depegging from USD
CoinGecko reports that on January 18, the stablecoin TrueUSD (TUSD) experienced a decline and dropped to $0.97. This decline began on January 15 when TUSD started losing parity with the US dollar.
Within the last 24 hours, TUSD holders on Binance exchange sold their tokens paired with USDT for around $301 million, while the volume of purchases during this time was only $130 million. The team behind TUSD stated that they regularly conduct audits as part of their routine activities.
They also mentioned that recent community involvement in liquidity mining on Binance Launchpool has created short-term arbitrage opportunities. They added that this is a normal part of market dynamics and liquidity adjustments.
Additionally, the team assured that their TUSD redemption channels, which involve various banks globally, are functioning smoothly as usual.
TrueUSD had previously announced a partnership with the accounting firm MooreHK for certification purposes.
