Understanding the Rise of TUSD in Coin An’s BTC-TUSD and BTC-USDT Trading Pairs

On April 16th, Kaiko data showed that the BTC-TUSD and BTC-USDT trading pairs of Coin An saw TUSD’s market share rise to 49%, almost equal to Tether’s USDT. However, the growth of TUSD cannot offset the rapid decline in trading volume caused by BTC-USDT, indicating that although TUSD trading costs are zero, traders are still unwilling to use TUSD. （CoinDesk）

Data: The market share of TUSD in Bitcoin trading has increased to 49%

In recent weeks, the cryptocurrency market has seen a rise in TUSD’s market share in Coin An’s BTC-TUSD and BTC-USDT trading pairs. On April 16th, Kaiko data showed that TUSD’s market share had increased to 49%, almost equal to Tether’s USDT. This article aims to explore the reasons behind this trend, as well as analyze the impact of the decline in trading volume caused by BTC-USDT.

Overview of Coin An’s BTC-TUSD and BTC-USDT Trading Pairs

Before diving into the rise of TUSD, it’s important to understand what Coin An’s BTC-TUSD and BTC-USDT trading pairs are. These pairs allow traders to exchange Bitcoin for Tether (USDT) or TrueUSD (TUSD), which are both stablecoins pegged to the US dollar. This makes them more stable than other cryptocurrencies, which are more volatile in nature.

The Rise of TUSD in Coin An’s BTC-TUSD and BTC-USDT Trading Pairs

TUSD’s market share in Coin An’s BTC-TUSD and BTC-USDT trading pairs has been steadily increasing. On April 16th, TUSD’s market share reached 49%, which is almost equal to USDT’s market share. This rise in TUSD’s market share can be attributed to two main factors:

Zero Trading Costs

One of the main advantages of using TUSD is that there are zero trading costs. This makes TUSD a more attractive option for traders who are looking to minimize their trading costs. In comparison, USDT has a small trading fee, which can add up over time.

Trustworthiness of TUSD

Another reason for the rise in TUSD’s market share is the trustworthiness of TUSD. TUSD is backed by a reserve of US dollars, which means that it is fully collateralized. This gives traders confidence in the stability of TUSD, and they are more likely to use it for trading.

Impact of the Decline in Trading Volume caused by BTC-USDT

Despite the rise in TUSD’s market share, the rapid decline in trading volume caused by BTC-USDT is still an issue. This decline can be attributed to a few main reasons:

Controversies Surrounding USDT

One of the main reasons for the decline in trading volume caused by BTC-USDT is the controversies surrounding USDT. USDT has been involved in several controversies in the past, including allegations of price manipulation and lack of transparency. This has led many traders to become wary of using USDT.

Competition from Other Stablecoins

Another reason for the decline in trading volume caused by BTC-USDT is the competition from other stablecoins, such as TUSD. With the rise of TUSD’s market share, traders are more likely to use TUSD instead of USDT for trading.

Conclusion

In conclusion, the rise of TUSD in Coin An’s BTC-TUSD and BTC-USDT trading pairs can be attributed to the zero trading costs and trustworthiness of TUSD. However, the decline in trading volume caused by BTC-USDT is still an issue, as traders become wary of using USDT due to controversies and competition from other stablecoins. It will be interesting to see how this trend develops in the coming months.

FAQs

Q1. What is TUSD?

A1. TUSD is a stablecoin pegged to the US dollar. It is fully collateralized, which gives traders confidence in its stability.

Q2. What is USDT?

A2. USDT is a stablecoin pegged to the US dollar. It has been involved in several controversies in the past, including allegations of price manipulation and lack of transparency.

Q3. What are Coin An’s BTC-TUSD and BTC-USDT trading pairs?

A3. Coin An’s BTC-TUSD and BTC-USDT trading pairs allow traders to exchange Bitcoin for Tether (USDT) or TrueUSD (TUSD), which are both stablecoins pegged to the US dollar.