BTC-TUSD and BTC-USDT Trading Pairs Witnessing a Shift in Market Share

According to reports, in the BTC-TUSD and BTC-USDT trading pairs on Coin An, TUSD’s market share has increased to 49%, almost equal to USDT. Kara Medalie, head of research at Kaiko, said that there had been a significant increase in just a few weeks as the exchange implemented a TUSD trading fee discount. But data shows that traders are still hesitant to use TUSD.

The BTC-TUSD transaction on Coin Security has increased its market share to 49%

Since the inception of Bitcoin, trading pairs have played an essential role in cryptocurrency trading. A trading pair is a combination of two cryptocurrencies that are exchanged in the trading process. In the world of cryptocurrency trading, Bitcoin to US dollar (BTC-USD) and Bitcoin to tether (BTC-USDT) are two widely used trading pairs.
Recently, reports suggest a shift in the market share of these trading pairs. In particular, there has been a significant increase in the market share of TrueUSD (TUSD) in the BTC-TUSD and BTC-USDT trading pairs on Coin An exchange. According to data from Kaiko, TUSD’s market share has surged to 49%, almost equal to that of USDT.

The Reason Behind the Increase in TUSD’s Market Share

Kara Medalie, the head of research at Kaiko, attributes the surge in TUSD’s market share to the implementation of a TUSD trading fee discount. Coin An exchange implemented a discount of up to 50% on TUSD trading fees, making it a more attractive choice for traders. As a result, traders started migrating towards TUSD, which ultimately led to an increase in its market share.

Traders’ Hesitancy Towards TUSD

Despite the significant increase in TUSD’s market share, data shows that traders are still hesitant to use TUSD. The reason behind this hesitancy is the lack of trust in the stablecoin after its issuer, TrustToken, was accused of market manipulation in 2019. TrustToken has always denied any wrongdoing, but the accusations continue to linger, which may be affecting traders’ confidence in the stablecoin.
Furthermore, TUSD has also faced challenges with its banking partners. Banks have been hesitant to work with stablecoins due to their association with cryptocurrencies, which are often used for illicit activities.

The Implications of TUSD’s Market Share Surge

The implications of TUSD’s market share surge are significant. The rise in TUSD’s market share has provided traders with an alternative to USDT, which previously dominated the trading pairs. USDT is a controversial stablecoin that has faced accusations of market manipulation and has been linked to the Bitfinex exchange. The rise in TUSD’s market share could potentially increase the stability of the market, as traders now have another stablecoin option.
However, the hesitancy of traders towards TUSD could hamper its growth. If traders continue to avoid TUSD due to lack of trust or concerns over its banking partners, the surge in market share could be short-lived.

Conclusion

In conclusion, the BTC-TUSD and BTC-USDT trading pairs are witnessing a shift in the market share of stablecoins. The recent surge in TUSD’s market share can be attributed to the implementation of TUSD trading fee discounts on Coin An exchange. Despite this increase, traders’ hesitancy towards TUSD due to lack of trust and banking challenges could negatively impact its growth. The rise of TUSD’s market share provides an alternative to USDT, which could lead to more stable trading pairs in the market.

FAQs

1. What are trading pairs in cryptocurrency trading?
Trading pairs are a combination of two cryptocurrencies that are exchanged in the trading process. In the world of cryptocurrency trading, BTC-USD and BTC-USDT are two widely used trading pairs.
2. What is TUSD and why is it gaining market share?
TrueUSD (TUSD) is a fiat-collateralized stablecoin that is pegged to the US dollar. TUSD’s recent surge in market share can be attributed to the implementation of TUSD trading fee discounts on Coin An exchange.
3. Why are traders hesitant towards TUSD?
Traders are hesitant towards TUSD due to the lack of trust and concerns over its banking partners after its issuer, TrustToken, was accused of market manipulation in 2019. Additionally, banks have been hesitant to work with stablecoins due to their association with cryptocurrencies, which are often used for illicit activities.