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Highlights
- TUSD is a stablecoin for US dollar that is fixed to US$ in the ratio 1:1
- The circulating supply of the token is 1.43 billion
- It reached its all-time high of US$1.36 on May 16, 2018
The TrueUSD (TUSD) token gained attention from investors Friday, despite it trading flat in the morning. However, its volume for the last 24 hours was up over 15% on January 14.
What is TrueUSD (TUSD)?
TrueUSD is a stablecoin to the US dollar that is fixed to the ratio of 1:1. It was initially launched in January 2018 for a limited investors community, and since then it has developed to incorporate around US$400 million in backed tokens in two years.
TrueUSD is among the stablecoins that are administered and managed by TrustToken. TrustToken can be regarded as a platform that tokenizes the real-world assets.
Just like any other stablecoin, TrueUSD also intends to encourage increased liquidity, while providing crypto enthusiasts or traders as well as general users a non-volatile asset, that is similar to free-floating tokens like Bitcoin (BTC).
It was launched by its parent company, TrustToken. Rafael Cosman founded TrustToken and is currently serving as the Chief Executive Officer of the firm.
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The circulating supply of the TUSD token is 1.43 billion. Notably, there are two types of TUSD tokens available. The first one is an ERC-20 token based on the Ethereum platform and the other is TUSDB, which is a BEP-2 token on Binance Chain.
Interested buyers can buy, sell, or trade TUSD tokens on several exchanges including Binance, Curve, etc.
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Source: *Data provided by CoinMarketCap.com
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Pricing & other details of TrueUSD (TUSD):
The TUSD token was priced at US$0.9992 at 6:54 am ET on January 14, down by 0.05%. It has a market cap of US$1.42 billion, and its fully-diluted market cap is US$1.43 billion. The volume of the token for the last 24 hours was US$116.84 million, representing an increase of 15.05% through Friday morning.
The TUSD token saw a highest price of US$1.07 and lowest price of US$0.9786 in the last 52-weeks. It reached its all-time high of US$1.36 on May 16, 2018. Over the past 12 months, the price of the token tumbled 0.06%.
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Bottom line:
There are more than 16,800 cryptocurrencies and over 450 exchanges in existence and the number is increasing daily. The total market cap of the crypto world is around US$2 trillion, and its volume for the last 24 hours was about US$104.17 billion, according to CoinMarketCap.com. However, an investor should closely evaluate the volatility and the risks associated with the crypto market before considering an investment.
