TrueUSD (TUSD) is Down to as Low as $0.99 – What’s Driving the Depeg from $1?

TrueUSD (TUSD), which is among the stablecoins highlighted by the cryptocurrency exchange Binance after the BUSD stablecoin was shelved, shows a slight divergence from its $1 peg following today’s developments.

Today, Binance introduced Manta as its 44th Launchpad project. However, the exchange did not include TUSD among the cryptocurrencies that can be staked to earn Manta. Instead, BNB and FDUSD took part in the project.

The fact that TUSD was not selected by Binance this time seems to have caused some users to react. Following the development, the TUSD price dropped to $0.99 with the sales. Although there is no large-scale decline, it is noteworthy that the token has not fallen to this level in the last year.

FDUSD was also among the stablecoins that Binance highlighted after BUSD. The market value of FDUSD has surpassed TUSD at the time of writing. Due to the effect of the announced Launchpad project, the price of FDUSD is slightly higher than the normal level. A similar increase was also seen in BNB, which was announced to be staked in the Launchpad project.

*This is not investment advice.