In a recent development, the TUSD pool on Curve, boasting a Total Value Locked (TVL) of US$15.5 million, has witnessed a significant shift as users increasingly convert TUSD (TrueUSD) into USDT-based stablecoins. Accounting for a staggering 81% of the pool’s holdings, this preference for USDT (Tether) reflects the evolving dynamics within the cryptocurrency market.
Currently, the TUSD/USD exchange rate stands at $0.996, reflecting a slight de-peg from its targeted value. Notably, the Binance TUSD/USDT pair experienced a dip to $0.9906, highlighting the market’s fluctuating sentiment. These minor variations can be attributed to various factors, including supply-demand dynamics, market sentiment, and overall stability concerns.
The TUSD pool’s tilt towards USDT-based stablecoins on Curve emphasizes the market’s demand for stability and efficient trading options. Traders and investors seeking to mitigate risks associated with volatility are finding solace in the relative stability and liquidity of USDT.