blockchainreporter.net
TrueUSD (TUSD), a leading stablecoin pegged to the U.S. dollar, has achieved a remarkable milestone with its 30-day trading volume surpassing $68 billion. This impressive feat, as indicated by CoinMarketCap, highlights the strong market demand for TrueUSD and solidifies its position in the ever-expanding cryptocurrency landscape.
🗣️We are delighted to share another great accomplishment！
— TrueUSD (@tusdio) June 28, 2023
👀According to @CoinMarketCap, the 30-day trading volume of TUSD has surpassed a significant milestone, exceeding $68 bn and reaching an impressive total of $68,645,984,755.#TUSDKeepGrowing
Setting a New Standard for Transparency in Stablecoins
Created and issued by TrustToken, TrueUSD stands out among stablecoins due to its emphasis on transparency. It was the first stablecoin to be released with a primary focus on providing a transparent and regulated digital asset. The peg and reserves of TrueUSD are also meticulously maintained by TrustToken, ensuring that each TUSD token is fully backed by its equivalent value in U.S. dollars.
TrueUSD can be acquired at a 1:1 exchange rate against the U.S. dollar on the TrustToken platform, attracting users who value stability and transparency in their digital transactions. The coin’s rapid adoption has led to its listing on numerous major cryptocurrency exchanges. While it currently holds the position of the 24th largest cryptocurrency by market capitalization, TrueUSD plays a significant role in the evolving blockchain ecosystem.
The success and prominence of TrueUSD have contributed to improving the reputation of stablecoins among both the general public and investors, as well as regulators. Its transparent nature and status as the first regulated stablecoin fully backed by the U.S. dollar have bolstered confidence in the concept of stablecoins, which are designed to minimize price volatility by pegging their value to a stable asset.
Symbolized by the ticker TUSD, TrueUSD represents tokenized U.S. dollars at a 1:1 ratio. Built on the Ethereum blockchain as an ERC-20 token, TrueUSD leverages the security and versatility offered by the Ethereum ecosystem. This includes the advantages of open-source smart contracts, which enable seamless USD transactions around the clock, regardless of traditional banking settlement constraints.
True to its commitment to transparency, TrueUSD undergoes monthly audits to confirm that the amount of U.S. dollars held in escrow matches the amount of TUSD tokens in circulation. This commitment ensures the integrity of the stablecoin and provides users with the assurance that their digital assets are backed by tangible reserves.
With its remarkable trading volume milestone and unwavering commitment to transparency, TrueUSD has established itself as a trusted and sought-after stablecoin in the cryptocurrency market. As demand for stable digital assets continues to rise, TrueUSD is well-positioned to meet the evolving needs of traders, investors, and the broader blockchain ecosystem.