The Rise and Fall of TUSD in Coin An 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%

Cryptocurrency traders have long relied on stablecoins like Tether (USDT) to hedge against market volatility. However, recent data from Kaiko has shown that another stablecoin, TrueUSD (TUSD), is also gaining traction in select trading pairs. In this article, we will explore the rise and fall of TUSD in Coin An trading pairs, and examine the reasons behind its current market share.

Overview of Coin An Trading Pairs

Coin An is a popular cryptocurrency exchange that offers a wide range of trading pairs. According to Kaiko data, the BTC-TUSD and BTC-USDT trading pairs are some of the most actively traded on the platform. Both TUSD and USDT are stablecoins that are pegged to the value of the US dollar. This means that they offer a predictable value for traders, regardless of cryptocurrency market fluctuations.

TUSD Market Share Surpasses USDT

On April 16th, Kaiko data showed that TUSD’s market share in the BTC-TUSD trading pair had risen to 49%, almost on par with the more established USDT trading pair. This was a significant milestone for TUSD, as it indicated that traders were becoming more comfortable using it as a viable alternative to USDT. TUSD has several advantages over USDT, including more transparency, stricter regulatory compliance, and a higher level of trust from the community.

Rapid Decline in Trading Volume

However, the growth of TUSD in the BTC-TUSD trading pair did not translate to other Coin An trading pairs. In fact, the BTC-USDT trading pair saw a rapid decline in trading volume, which affected TUSD’s overall market share. This indicates that traders are not willing to switch to TUSD, even if it has zero trading costs. There are many reasons why this might be the case, including the fact that USDT is more established and easier to acquire, has better liquidity, and offers a wider range of trading pairs.

Future Outlook for TUSD in Coin An Trading Pairs

The rise and fall of TUSD in Coin An trading pairs highlights the challenges facing alternative stablecoins in the cryptocurrency market. While TUSD offers several advantages over USDT, it has yet to gain widespread adoption among traders. However, as the cryptocurrency market continues to evolve, we may see more traders diversifying their portfolio and exploring alternative stablecoins.

Conclusion

In conclusion, TUSD’s rise and fall in Coin An trading pairs is a reflection of the complex dynamics at play in the cryptocurrency market. While TUSD has made significant strides in certain trading pairs, it still faces significant obstacles in achieving mass adoption. Nevertheless, we believe that TUSD has the potential to carve out a niche in the cryptocurrency market, and we will be closely monitoring its progress in the coming months.

FAQs

1. Is TUSD a better choice than USDT for cryptocurrency traders?
Answer: TUSD offers several advantages over USDT, including more transparency and regulatory compliance. However, USDT is more established and has better liquidity, making it a more popular choice for traders.
2. Why did TUSD’s market share decline in other Coin An trading pairs?
Answer: Traders are not yet comfortable using TUSD as a viable alternative to USDT. USDT is more established and easier to acquire, has better liquidity, and offers a wider range of trading pairs.
3. What is the outlook for TUSD in the cryptocurrency market?
Answer: TUSD has the potential to carve out a niche in the cryptocurrency market, but it faces significant obstacles in achieving mass adoption. As the cryptocurrency market continues to evolve, we may see more traders diversifying their portfolio and exploring alternative stablecoins.