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Binance Boosts TUSD Growth with $130 Million Injection

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On March 1, CZ said in its response to the data analysis on its social platform that \”in the past seven days, Binance has minted TUSD with a value of 130 milli…

Binance Boosts TUSD Growth with $130 Million Injection

On March 1, CZ said in its response to the data analysis on its social platform that “in the past seven days, Binance has minted TUSD with a value of 130 million US dollars, and the circulation supply has exceeded 1.1 billion US dollars, ranking fifth among stable currencies”, so that more stable currencies can flourish.

CZ replied to the TUSD data tweet, TRU rose more than 30% in a short time

Interpretation of the news:


In response to the analysis of its social platform, CZ, the CEO of Binance announced on March 1st that Binance has minted TUSD, a USD pegged stablecoin, with a value of $130 million in the past seven days, resulting in a circulation supply of over $1.1 billion. This is a significant move by Binance, one of the largest cryptocurrency exchanges in the world, to boost the growth of stable currencies.

The use of stablecoins is becoming more prevalent in the cryptocurrency market as they offer a level of stability that traditional cryptocurrencies such as Bitcoin do not have. TUSD, in particular, aims to provide a trustworthy and transparent platform for individuals and businesses to conduct fast and secure transactions with low fees. The minting of TUSD by Binance not only increases its circulation supply but also boosts its market capitalization, placing it in the top five stablecoins in the market.

This move by Binance highlights the company’s commitment to support not only its own platform but also other stable currencies in the market. CZ’s message suggests that Binance is eager to contribute to the establishment of a stable and sustainable cryptocurrency market. With the current volatility in the cryptocurrency market, the promotion of stablecoins is a positive step forward for the industry.

Binance’s decision to mint TUSD will have significant implications for the currency as its circulation supply has increased by over 13% in the past seven days. This increase will allow for more usage of the stablecoin by individuals and businesses, which in turn could lead to further growth of the cryptocurrency market. This also demonstrates the importance of having a strong and reputable exchange such as Binance to support stable currencies for their growth in the market.

In conclusion, Binance’s decision to mint TUSD with $130 million value has not only boosted the growth and circulation of TUSD but has also shown the company’s commitment to supporting stable currencies. With the increasing adoption and acceptance of cryptocurrencies worldwide, the stability offered by stablecoins such as TUSD are welcomed, and Binance’s contribution to its growth is a positive step forward for the cryptocurrency market.

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