On June 16, TUSD supply surged by 52%! The difficulties the dollar-pegged token economy was facing were recently brought to light when significant redemptions caused its market valuation to drop to a 20-month low.<\/p>\n
Binance\u2019s dominance in TUSD holdings: Top 10 wallets control 83.31% of the circulating supply.
\nMultiple wallets under Binance\u2019s control: Wallets holding 389,561,743, 45,233,811, 28,000,000, 10,601,602, and 10,270,001 TUSD tokens.
\nA temporary pause in TUSD minting via Prime Trust: Minting and redemption through other banking partners remain unaffected.<\/p>\n
As of June 19, 2023, the combined market capitalization of the top stablecoins<\/a> stands at $129.99 billion, with a 24-hour trade volume of $20.84 billion.<\/p>\n Remarkably, three of the leading stablecoins\u2014USDC, DAI, and BUSD\u2014have seen their supplies decrease by 3.8% to 22% over the past 30 days.<\/p>\n Related Reading: Ripple Set To Hit $30 If It Comes Out Victorious In SEC Lawsuit: Hedge Fund Manager Predicts<\/a><\/p>\n In contrast, TUSD<\/a> has observed a supply growth of approximately 53.5% during the same period.<\/p>\n TUSD\u2019s market valuation experienced a surge on July 16, 2023, reaching $3.11 billion, a significant leap from the previous day\u2019s $2.04 billion.<\/p>\n This indicates that although TrueUSD increased by 53.5% over the course of 30 days, 52% of that growth occurred on a single day \u201clast Friday.\u201d<\/p>\n Etherscan\u2019s smart contract data indicates that the circulating supply of TrueUSD tokens on June 19 is approximately 3,135,633,560.<\/p>\n It is noteworthy that there are 52,079 holders of TrueUSD; however, the top 10 wallets dominate 83.31% of the circulating supply.<\/p>\n Notably, Binance stands out as the largest holder, possessing 389,561,743 TrueUSD tokens in its leading address.<\/p>\n Additionally, Binance controls five out of the top ten addresses with the highest TrueUSD holdings.<\/p>\n One wallet contains 45,233,811 TUSD, another has precisely 28,000,000, there\u2019s one with 10,601,602, and lastly, one holds 10,270,001 TrueUSD tokens.<\/p>\n Additionally, the decentralized finance (defi) protocol Aave has locked 4,780,182 TUSD for its aTUSD tokens.<\/p>\n According to data from Nansen.ai, Binance\u2019s TUSD holdings represent 5.26% of the exchange\u2019s $52.45 billion portfolio.<\/p>\n TUSD was introduced in mid-2018 as an ERC20-based stablecoin through the Trust Token platform.<\/p>\n It claims to be fully backed by US Dollars and supervised by a regulated operator.<\/p>\n The stablecoin company collaborated with Custodian Prime Trust, the same company Bitgo expressed intentions of acquiring.<\/p>\n However, the team\u2019s Twitter account recently disclosed that TUSD mints via Prime Trust are temporarily paused until further notice.<\/p>\n On Monday, at 8:58 a.m., the company stated once more that mints through Prime Trust<\/a> are still unavailable.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n On June 16, TUSD supply surged by 52%! The difficulties the dollar-pegged token economy was facing were recently brought to light when significant redemptions caused its market valuation to drop to a 20-month low.<\/p>\n Binance\u2019s dominance in TUSD holdings: Top 10 wallets control 83.31% of the circulating supply. As of June 19, 2023, the combined market capitalization of the top stablecoins<\/a> stands at $129.99 billion, with a 24-hour trade volume of $20.84 billion.<\/p>\n Remarkably, three of the leading stablecoins\u2014USDC, DAI, and BUSD\u2014have seen their supplies decrease by 3.8% to 22% over the past 30 days.<\/p>\n Related Reading: Ripple Set To Hit $30 If It Comes Out Victorious In SEC Lawsuit: Hedge Fund Manager Predicts<\/a><\/p>\nTUSD: Wallet Distribution And Minting Pause<\/h2>\n
\nMultiple wallets under Binance\u2019s control: Wallets holding 389,561,743, 45,233,811, 28,000,000, 10,601,602, and 10,270,001 TUSD tokens.
\nA temporary pause in TUSD minting via Prime Trust: Minting and redemption through other banking partners remain unaffected.<\/p>\nMarket Capitalization And Supply Growth Of Stablecoins<\/h2>\n