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The Rise of TUSD and the Decline of USDT in Coin An’s BTC Trading Pairs

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On April 16th, Kaiko data showed that the BTC-TUSD and BTC-USDT trading pairs of Coin An saw TUSD\’s market share rise to 49%, almost equal to Tether\’s USDT. However, the growth of

The Rise of TUSD and the Decline of USDT in Coin Ans BTC Trading Pairs

On April 16th, Kaiko data showed that the BTC-TUSD and BTC-USDT trading pairs of Coin An saw TUSD’s market share rise to 49%, almost equal to Tether’s USDT. However, the growth of TUSD cannot offset the rapid decline in trading volume caused by BTC-USDT, indicating that although TUSD trading costs are zero, traders are still unwilling to use TUSD. （CoinDesk）

Data: The market share of TUSD in Bitcoin trading has increased to 49%

As of April 16th, Coin An’s BTC-TUSD and BTC-USDT trading pairs saw the market share of TUSD rise to 49%, which is almost equal to USDT’s share. Despite TUSD’s growth, the trading volume caused by BTC-USDT has rapidly declined, indicating that traders are still unwilling to use TUSD, despite its zero trading costs.

TUSD vs. USDT

TUSD, or TrueUSD, is a stablecoin that is pegged to the US dollar. It is used as a digital representation of a US dollar, and its price is always equal to one dollar. On the other hand, USDT, or Tether, is another stablecoin that is also pegged to the US dollar. It is the most widely used stablecoin in the cryptocurrency industry.

The Rise of TUSD’s Market Share

According to Kaiko data on April 16th, TUSD’s market share in Coin An’s BTC trading pairs rose to 49%. This is a significant increase and almost equal to USDT’s share. This rise can be attributed to TUSD’s zero trading costs, which make it a cost-effective alternative to USDT.

The Decline of Trading Volume Caused by BTC-USDT

Although TUSD’s market share has increased significantly, the trading volume caused by BTC-USDT has rapidly declined. This indicates that traders are still unwilling to use TUSD, despite its advantageous trading costs.

Perplexity and Burstiness of TUSD vs. USDT

The growth of TUSD’s market share and the decline in trading volume caused by BTC-USDT in Coin An’s trading pairs indicate both perplexity and burstiness. Traders may be unsure about whether to use TUSD, considering that they have been using USDT for a long time. On the other hand, it may also burst suddenly, with traders eventually choosing TUSD over USDT due to its cost-effective trading rates.

Conclusion

TUSD’s rise in market share in Coin An’s BTC trading pairs indicates its growing importance in the cryptocurrency industry. However, despite its zero trading costs, traders are still reluctant to use it, as evidenced by the rapid decline in the trading volume caused by BTC-USDT. The perplexity and burstiness of both stablecoins reveal that the cryptocurrency industry is in a state of flux, and traders’ perceptions may change over time.

FAQs

1. What is TUSD, and how does it differ from USDT?
TUSD is a stablecoin pegged to the US dollar, while USDT is also a stablecoin but is the most widely used in the cryptocurrency industry.
2. Why has TUSD’s market share increased in Coin An’s BTC trading pairs?
TUSD’s market share has increased due to its zero trading costs, making it more cost-effective compared to USDT.
3. Why are traders still reluctant to use TUSD despite its cost-effective trading rates?
Traders are still unwilling to use TUSD, given their current preference for USDT and the unclear future of stablecoins in the cryptocurrency industry.

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