TrueUSD (TUSD) Gains Market Share in Stablecoin Sector
A recent report by CoinMarketCap Research highlights the growing market share of TrueUSD (TUSD), a USD-pegged stablecoin. The report reveals that TUSD’s market share in the stablecoin sector increased by over 238% in 2023, rising from 0.53% to 1.79%. Additionally, TUSD’s total market capitalization surged from $799.31 million to $2.31 billion within the same period, showcasing its expanding position in the market.
TUSD’s Transparency and Reserves Attestation
One of TUSD’s key differentiators is its transparency. The stablecoin provides live, on-chain attestations of its reserves, offering greater visibility into its backing. These attestations are conducted by independent accounting firms such as The Network Firm LLP and Moore Global’s Hong Kong arm, MooreHK. TUSD has also integrated Chainlink’s Proof of Reserve (PoR) technology, becoming the first USD-backed stablecoin to incorporate real-time verification of off-chain USD reserves.
For More Information
To read the full report on TUSD, visit: https://coinmarketcap.com/academy/article/everything-you-need-to-know-about-trueusd-tusd
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Hot Take: TUSD’s Growth Exhibits Stability and Trustworthiness
The significant increase in market share and market capitalization of TrueUSD (TUSD) demonstrates the growing demand and trust in this USD-pegged stablecoin. TUSD sets itself apart from other stablecoins through its transparent reserves attestations and the integration of Chainlink’s PoR technology. These features provide TUSD users with confidence in the stability and reliability of the stablecoin’s backing. As the market for stablecoins continues to evolve, TUSD’s trajectory indicates its potential to become a prominent player in the industry.
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