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- LongHash has come up with its analysis that about 99% of TUSD concentrated in Huobi and Binance.
- With sharing much concentration over both giant crypto exchanges, it can be assumed the stable coin TUSD is doing well in the market as traders are now deviating towards the cryptocurrencies that are backed by a physical asset.
- The previous month, TUSD has partnered with an accounting firm Armanino that supposedly allows the traders to monitor TrueUSD token balances and collateralized funds.
Popular blockchain data analysis platform LongHash has come up with its analysis that about 99% of TUSD concentrated in Huobi and Binance. The data analysis reveals that the TUSD chip distribution changes from centralized to highly centralized.
TUSD Data Analysis
Per the chart mentioned above, it is very much clear that over 67.05% of TUSD is concentrated in the Huobi platform whereas, 32.15% of TUSD concentrated in the Binance. However, a small concentration can be viewed on Bitfinex (0.8%) and the other side; the OKEx carries a null concentration of the cryptocurrency.
Houbi is a Singapore-based crypto exchange. This leading exchange offers top coins such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many more. Binance is one of the significant cryptocurrency exchanges that offer trading for more than 100 cryptocurrencies.
With sharing much concentration over both giant crypto exchanges, it can be assumed the stable coin TUSD is doing well in the market as traders are now deviating towards the cryptocurrencies that are backed by a physical asset.
TUSD stablecoin
TrueUSD (TUSD) is a stablecoin built to offer a stable value in the volatile blockchain ecosystem. The TrueUSD market cap has been increasing from the coin’s launch, and at the press, the total market capitalization has raised around $136,730,986.
Stablecoins are backed by a physical asset, fiat currency, or even an algorithm. These forms of Cryptocurrencies are more stable in value than other crypto assets. The TUSD is backed in a ratio of 1:1 with US dollars.
The previous month, TUSD has partnered with an accounting firm Armanino that supposedly allows the traders to monitor TrueUSD token balances and collateralized funds.
