According to a report by Kaiko, a data analytics firm, TrueUSD (TUSD) has surpassed USDT and BUSD as the most popular trading asset paired with bitcoin on centralized exchanges.
This significant shift can be attributed to the aggressive promotion of TUSD by Binance, which has led to a 168% increase in TUSD’s capitalization in less than four months.
The BTC/TUSD pair on Binance has become the most popular pair for trading due to its zero trading fees.
In contrast, the other bitcoin trading pairs on the exchange have incurred fees since the end of March.
As a result, the BTC/TUSD pair has gained popularity, accounting for 50% of the total trading volume on Binance.
The Kaiko report states that as long as the zero-fee BTC/TUSD trading continues, TUSD will remain the leading stablecoin, irrespective of people’s preferences.
The TrueUSD stablecoin, created by the TrueFi DeFi protocol team, operates on the Ethereum, TRON, and Binance Smart Chain blockchains.
Its tokens are issued by the TrustToken platform. The creators of TUSD have responded to the coin’s success by stating that TUSD is the most reliable and transparent stablecoin in any market condition.