TrueUSD (TUSD) Continues Growth, Total Token Supply now 40 Million


TrustToken, a platform that generates asset-back tokens that can be efficiently and simply bought and sold around the world, has recently tweeted out the enormous growth of the token as well its listing on Binance, a cryptocurrency exchange, against Tether (USDT). In particular, the tweet made May 31, 2018 by Rafael Cosman goes as follows:

“TrueUSD has surpassed a $40MM market cap and demand is continuing to grow. The market cap is a reflection of the actual dollars in the escrow account that are backing the TUSD stablecoin. Great to see so much interest in the trading community!”

To confirm its listing on Binance, a tweet was sent out suggesting, “TrueUSD/Tether pair has been added to @binance. Now traders can trade directly into a #stablecoin that is backed by real dollars in a third-party escrow account. #stabletrue.”

At the time of writing, the circulating supply is about 41,314,987 TUSD, sitting at a value of roughly USD$0.99. The exchanges have been supposedly made over 240 addresses merely because of their presence on exchanges rather than through Ethereum (ETH) wallets. Similarly, the TUSD/USDT pairing has gone up by $5 million within 24 hours.

While the growth is substantial, Tethers has yet to see an appropriate turnover. Other surfing claims suggest that the fixed-price tokens are to ensure that moving funds between exchanges is simple and possible, while having some control over inconstancy concerns – which is a growing concern for crypto holders.

 

As for the project itself, many appear to be doubtful of how it will all play out in the future, mainly because of the presence of Tether. To offset any worries, the company went through an audit and has made the results made available as well:

“The latest attestation of TrueUSD funds verified by an independent auditing company is available here: https://t.co/BJzNpAIdU9”

Binance is not the only one to support TUSD tokens, as Bittrex has also been showing support in the form of encouraging inflows of cash. This alone can trigger a soaring TUSD supply.

For more information and updates related to TrustTokens, go to: https://twitter.com/TrustToken

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide