BTC-TUSD and BTC-USDT Trading Pairs: A Comparative Analysis of TUSD and USDT Market Share on Coin An

According to reports, in the BTC-TUSD and BTC-USDT trading pairs on Coin An, TUSD’s market share has increased to 49%, almost equal to USDT. Kara Medalie, head of research at Kaiko, said that there had been a significant increase in just a few weeks as the exchange implemented a TUSD trading fee discount. But data shows that traders are still hesitant to use TUSD.

The BTC-TUSD transaction on Coin Security has increased its market share to 49%

Bitcoin or BTC, being the preeminent cryptocurrency, enjoys tremendous popularity among traders worldwide. It operates across numerous trading pairs, offering traders the flexibility to buy and sell cryptocurrencies using a variety of fiat and stablecoins. In this article, we analyze the comparative market share of TUSD and USDT trading pairs in BTC-TUSD and BTC-USDT on Coin An.

Outline:

1. Introduction
2. The Role of Stablecoins in Crypto Trading
3. Market Share of TUSD and USDT in BTC-TUSD and BTC-USDT Trading Pairs on Coin An
4. Factors Contributing to the Rise of TUSD’s Market Share
5. Why Traders are still Hesitant to Use TUSD
6. Conclusion
7. FAQs

The Role of Stablecoins in Crypto Trading

The crypto market is highly volatile, and traders require a stable currency to trade cryptocurrencies without incurring substantial losses. This is where stablecoins come in as they are instruments that peg their value to an underlying asset like the US dollar, Euro, or even gold. With a stablecoin, traders can safeguard themselves against market volatility while still taking advantage of market movements.

Market Share of TUSD and USDT in BTC-TUSD and BTC-USDT Trading Pairs on Coin An

Coin An is a crypto exchange that operates several trading pairs, including BTC pairs. According to reports, TUSD’s market share in BTC-TUSD and BTC-USDT trading pairs on Coin An has risen to 49%, almost equal to USDT. USDT is the largest stablecoin in the market, accounting for over 65% of all stablecoin trading volume. On the other hand, TUSD is ranked #5 in terms of stablecoin market share, trailing behind USDT, BUSD, DAI, and USDC.

Factors Contributing to the Rise of TUSD’s Market Share

Kara Medalie, head of research at Kaiko, cited that there had been a significant increase in TUSD’s market share in a few weeks as Coin An implemented a TUSD trading fee discount. This fee discount was instrumental in attracting traders to use TUSD, as they would pay lesser fees compared to USDT.
Additionally, several controversies have arisen concerning USDT’s backing, casting doubts on its reliability as a stablecoin. In contrast, TUSD has come out as a transparent and more regulated option, building trust among traders and investors.

Why Traders are still Hesitant to Use TUSD

Despite TUSD’s rising market share, traders are still hesitant to use it, primarily because of its lower liquidity. Compared to USDT, TUSD has a lower trading volume and is, therefore, a riskier option for traders. Besides, USDT offers better liquidity and wider acceptance on other exchanges, making it more convenient to use for traders.

Conclusion

In conclusion, this article provides an in-depth analysis of the comparative market share of two stablecoins, TUSD and USDT, in BTC-TUSD and BTC-USDT trading pairs on Coin An. It highlights the role of stablecoins in crypto trading and the factors contributing to the growth of TUSD’s market share, such as fee discounts and more transparent and regulated operations. The article also points out why crypto traders are still hesitant to use TUSD, such as concerns over liquidity and USDT’s wider acceptance.

FAQs:

1. What is a stablecoin, and why are they essential in crypto trading?
Stablecoins are cryptocurrencies that peg their value to an underlying asset like the US dollar, Euro, or even gold. They are essential in crypto trading because they provide traders with a stable currency to trade cryptocurrencies without incurring substantial losses due to market volatility.
2. What is Coin An?
Coin An is a crypto exchange that operates several trading pairs, including BTC pairs.
3. Why are traders hesitant to use TUSD?
Traders are hesitant to use TUSD primarily because of its lower liquidity compared to USDT. USDT offers better liquidity and wider acceptance on other exchanges, making it more convenient to use for traders.