Stablecoin TrueUSD (TUSD) has dropped below its $1 peg following a massive sell-off.
According to CoinGecko data, the price of TUSD dipped to around $0.97 overnight. It is currently back at $0.98 at the time of writing.
The price of TUSD initially began to show signs of instability on Jan. 15, following traders selling over $300 million worth of TUSD for USDT on Binance.
Although there have been a few buyers, Binance trading data shows that over the past five days, TUSD has seen net outflows amounting to $279 million.
Ashton Addison, founder and CEO of Crypto Coin Show, told Blockworks that TUSD is currently facing an uphill battle to secure a top spot among other USD-pegged…
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