BTC-TUSD and BTC-USDT Trading Pairs on Coin An: Analyzing the Rise of TUSD’s Market Share

04/15/2023 22:54 • Metaverse Matters • 87 views

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%

Introduction

In recent weeks, there has been a considerable increase in TUSD’s market share in the BTC-TUSD and BTC-USDT trading pairs on Coin An. According to reports, TUSD’s market share has risen to 49%, which is almost equal to that of USDT. This article will analyze this sudden rise in TUSD’s market share and explore reasons for traders’ reluctance to use TUSD.

The Rise of TUSD’s Market Share

Kara Medalie, head of research at Kaiko, stated that the sharp rise in TUSD’s market share has been driven by the implementation of a TUSD trading fee discount by Coin An. This led to a significant increase in the number of trades involving TUSD. Additionally, the decrease in USDT’s market share could be attributed to concerns about its stability, as there have been questions regarding whether USDT is fully backed by the equivalent amount of USD reserves.

Hesitancy to Use TUSD

Despite the TUSD trading fee discount, data shows that some traders are still hesitant to use TUSD. One possible reason for this is unfamiliarity with TUSD, as USDT has long been the dominant stablecoin in the market. Furthermore, TUSD has a reputation for being a relatively new player in the stablecoin market, which could influence traders’ trust in it as a reliable investment option.
Another factor to consider is the psychological impact of cryptocurrency investment. Most traders tend to follow the herd mentality and put their faith in the investments that others are making. This is known as the bandwagon effect. As USDT has long been the preferred choice for traders, they may continue to stick to what is already familiar to them, rather than taking a chance on a new player like TUSD.

Conclusion

In conclusion, TUSD’s market share has seen a significant increase in the BTC-TUSD and BTC-USDT trading pairs on Coin An, thanks to the TUSD trading fee discount. However, despite the discount, traders still seem hesitant to use TUSD, which could be due to factors including unfamiliarity, trust issues, and the bandwagon effect.

FAQ

Q: What is TUSD?
A: TUSD is a stablecoin pegged to the price of the US dollar with a one-to-one ratio. It is a relatively new stablecoin in the market and aims to provide a more transparent and reliable alternative to other stablecoins.
Q: What is USDT?
A: USDT is a stablecoin pegged to the US dollar, but there have been questions regarding whether it is fully backed by the equivalent of USD reserves.
Q: Can TUSD continue to rival USDT in the stablecoin market?
A: It is difficult to predict whether TUSD could surpass the dominance of USDT in the stablecoin market. However, the rise in TUSD’s market share indicates that it is a worthy competitor, and only time will tell if it can continue this upward trend.

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