TUSD volume completely through the roof thanks to Binance?

At the time of writing, True USD (TUSD) is the number 31 cryptocurrency on CoinMarketCap, but that could soon change if Binance pushes ahead with its plans. In a May 30 press statement, Binance announced that it is introducing three new trading pairs for TUSD.

It is a trading pair with Litecoin (LTC), Cardano (ADA) and Binance USD (BUSD).

Why BUSD?

The only surprise in this list is the trading pair with BUSD. Somehow it is a strange idea to link two stablecoins with each other and of course we all know that Paxos is no longer allowed to launch a new BUSD by the US Securities and Exchange Commission (SEC).

So it is only a matter of time before BUSD is completely out of circulation and it is no longer possible to get or use the stablecoin. Slowly but surely, the market cap of the stablecoin is falling.

That’s because people can still exchange the currency for US dollars, but can no longer create new ones. But maybe Binance still has wild plans with BUSD and they see an opportunity to revive the currency, that is of course a possibility.

ADA and LTC

The choice to introduce trading pairs with Cardano and Litecoin seems more logical. As far as Litecoin is concerned, the next halving is in the pipeline, so it is possible that there will be some hype surrounding the project in the coming months.

That halving is planned for August 2023. So that’s a few months to wait. As far as Cardano is concerned, the volume has increased considerably, which seems to be mainly due to the introduction of zkEVM.

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The latter is a way to make transactions on Cardano faster and cheaper. It is a piece of technology that is popular and apparently gives people a lot of confidence in the future of the smart contract platform.

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