BTC-TUSD Becomes Largest Bitcoin Trading Pair Driven by Coin Security and TrueUSD

04/21/2023 06:27 • Metaverse Matters • 76 views

On April 21st, according to Kaiko’s latest report, BTC-TUSD has become the largest Bitcoin trading pair driven by Coin Security, and TrueUSD stable currency is a type of token that was not known until this year. On March 22nd, Coin cancelled the zero fee Bitcoin trading promotion, except for Bitcoin TrueUSD, which stimulated demand for BTC-TUSD. BTC-TUSD now accounts for 50% of the total transaction volume of BTC on Coin Security, compared to almost 0% just a month ago when this number was announced.

Report: BTC-TUSD has become the largest Bitcoin trading pair driven by Coin Security

Introduction

In the world of digital currencies, Bitcoin remains the epicenter of all transactions, and many investors are always on the lookout for the latest trends that can impact the value of Bitcoin. A recent report by Kaiko reveals that BTC-TUSD has become the largest Bitcoin trading pair on Coin Security, thanks to TrueUSD stable currency.

What is BTC-TUSD?

BTC-TUSD refers to a trading pair where Bitcoin is traded against TrueUSD, a stable currency designed to represent fiat currency. The value of TrueUSD is pegged to that of the USD, making it a more stable asset compared to other cryptocurrencies whose value is highly volatile.

Coin Security and TrueUSD

According to Kaiko’s report, Coin Security has been a major driver of the BTC-TUSD trading pair’s growth. Coin Security is one of the most popular digital currency exchanges, and it has played a vital role in the adoption of Bitcoin. The platform has been instrumental in enabling investors to trade in Bitcoin and other cryptocurrencies.
For a long time, Coin Security has been offering zero fee Bitcoin trading promotions to attract more traders to the platform. However, on March 22nd, the platform cancelled the promotion, except for Bitcoin TrueUSD. This move stimulated demand for BTC-TUSD, since Coin Security users could still trade with zero fees for this particular trading pair.

BTC-TUSD’s Rapid Growth

The impact of this change on the adoption of BTC-TUSD was dramatic. As Kaiko’s report reveals, BTC-TUSD now accounts for 50% of the total transaction volume of BTC on Coin Security. This is a significant growth compared to almost 0% just a month ago when this number was announced.

Why TrueUSD Matters

The growth of TrueUSD is also significant because this stable currency was not known until this year. This is a clear indication of the burgeoning demand for stable coins that investors can rely on to hedge against the highly volatile nature of cryptocurrency investments.

Conclusion

The digital currency industry has seen rapid growth in the past few years, with Bitcoin remaining at the center of all transactions. As Kaiko’s report shows, BTC-TUSD has emerged as the largest trading pair on Coin Security, largely driven by TrueUSD. This is a significant development that underscores the growing importance of stable coins in the cryptocurrency industry.

FAQs

Q: What is TrueUSD?
A: TrueUSD is a stable currency designed to represent fiat currency. Its value is pegged to that of the USD, making it a more stable asset compared to other cryptocurrencies whose value is highly volatile.
Q: Why is TrueUSD significant?
A: TrueUSD’s significance lies in its ability to provide a stable asset for cryptocurrency investors to hedge against the highly volatile nature of the industry.
Q: Why has BTC-TUSD seen rapid growth?
A: BTC-TUSD has seen rapid growth on Coin Security due to the zero fee trading promotion that Coin Security offered for this trading pair. This promotion was not cancelled for BTC-TUSD, unlike other trading pairs, stimulating demand for BTC-TUSD.

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