TrueUSD (TUSD) kept its dollar peg, only rising slightly to $1.02, at the launch of official Binance trading. At one point, the asset spiked to $1.10, but quickly corrected its position. This time, the spike was much lower, while a few days ago the price of TUSD was distorted by bots to as high as $1.30.
TUSD volumes have risen to around $12 million in 24 hours. At the launch of Binance trading, the asset also saw its supply increase to more than 18 million tokens - a significant growth in the past months, given that TUSD launched with around 4 million tokens.
— TrustToken (@TrustToken) May 22, 2018
Because of its pairings, TUSD will not inject liquidity into many altcoin markets, the way USDT does now. TUSD will be instead a hedge against volatility. During market downturns, various tokens are sometimes used to store value if Bitcoin prices start sinking. It is possible that TUSD serves that function.
Binance Coin (BNB) is also used as a source of liquidity, but its fluctuating price complicates trading decisions. BNB is at $14.34, near its peak in BTC prices after the leading digital coin slid nearer to $8,000 again.
Read more: https://cryptovest.com/news/trueusd-tusd-officially-launches-on-binance-with-increased-supply/
