In an interesting development, the little-known stablecoin TrueUSD is making the largest Bitcoin trading pair, as per the data provided by the crypto research platform Kaiko. Thanks to the major shift spurred by crypto exchange Binance earlier this year.
Last month on March 22, crypto exchange Binance scrapped its zero-fee Bitcoin trading promotions, except for Bitcoin-TrueUSD. This provided a significant boost in demand for the TrueUSD stablecoin. Thus, TrueUSD’s share in Bitcoin trading volumes on crypto exchange Binance jumped to a staggering 50% which was almost negligible ahead of Binance’s scraping off a zero-fee call last month.
Courtesy: Bloomberg
As we know, stablecoins are the crucial elements of the crypto sector wherein investors often park funds for using them in trading. As the name suggests, these digital assets should have a stable value, typically $1. Besides, these stablecoins are often backed by reserves such as cash and bonds. Commenting on the recent surge in d
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