Binance doesn’t add TrueUSD after it suddenly grows 30%

The feature that makes TrueUSD special is its claimed close connection to the United States dollar. This is a natural response to the fact that some cryptocurrencies are not backed by anything except, maybe, mining energy costs. As the token was supposed to be backed to the USD, its price should have been $1 under all circumstances.

Instead, the price of this new altcoin has grown +30% after Binance has announced its intention to add it to its lists. The management of the exchange has apparently been surprised by this behavior and decided to postpone the listing.

To compare, the price of Tether has never left the corridor between $0.96 and $1.08, while there have been some very sensitive news regarding the loss of several millions of dollars after a hack and rumors about the overestimated assets’ condition.

Dollar-backed and asset-backed cryptocurrencies are usually being made to attract traditionalists, but usually they do not have huge success. D1 Coin, a project of cryptocurrency backed by diamonds, claims it would be listed on Bitfinex, Bitstamp, bitFlyer, KCOIN “and others” in June - soon the market participants will see if this project is any different.

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