Topic: TrueUSD (TUSD) Next stablecoin to depeg? (Read 254 times)
I think like most people in this forum. TUSD is still very worrying pegged to the dollar. This means that people will trust USDT, USDC or BUSD more. I'm more careful and I'd rather wait to see how TUSD develops in the future.
I have exchanged TUSD to USDT and USDC. I feel worried about the current state of the market. Even though they guarantee as a stablecoin and they have collateral, but it is important for me to secure my assets to another stable coin for now.
Be careful with USDC, it was not long ago that stable coin also present problems and some people had to accept some losses when they had to sell their USDC below the dollar parity, now this may bring the question about which stable coin is safe at all right now to hold?And unfortunately I think there is no stable coin safe to hold right now, even if it was stated over and over again that this day may come many people seem to be unprepared for the real possibility that in the future governments will attack stable coins with everything they have, as they are direct competitors to their CBDCs.
Even TUSD, which the article is referring to, recovered within one or two days at almost 1:1 parity, and a few days later, it was back to normal, suffering zero losses. I believe that the FUD around a possible depeg on stablecoins creates a broader issue than the depeg itself.
But the company begins to take bonds and banking assets as collateral, which makes the stablecoin dependent on these assets.
This is a good option, I do not know what the current possession is as collateral, but it is clear that DAI was exposed to USDC, which caused their value to drop, just as it happened with USDC, and they could not recover the value of 1 dollar until after USDC regained its value.I hope that there will be a better diversification of investments in Bitcoin and some other assets to ensure that what happened will not be repeated.
The currency is decentralized but maintaining the level of one dollar is central.
Be careful with USDC, it was not long ago that stable coin also present problems and some people had to accept some losses when they had to sell their USDC below the dollar parity, now this may bring the question about which stable coin is safe at all right now to hold?
For me, USDC and its centralized model, which is DAI, is much better than USDT, but due to the high liquidity that USDT enjoys, its use in platforms is much higher. Therefore, it is better to withdraw all your investments in stablecoins into cash and leave a very small percentage in investments such as USDT by 40%, USDC by 30%, and DAI by 30%, and the higher the percentage of DAI, the better.Investing in other stablecoins pairs is dangerous and I do not recommend it at all.
I store chtablecoins only in DAI, they have the most honest statistics, but the price of DAI is pegged to the price
https://daistats.com/#/
https://makerburn.com/#/
https://www.theblock.co/post/235837/makerdao-purchases-additional-700-million-in-treasury-bonds
"MakerDAO increased its U.S. Treasury bond holdings to $1.2 billion after a $700 million purchase.
The organization initially purchased $500 million in bonds in October 2022. "
But the company begins to take bonds and banking assets as collateral, which makes the stablecoin dependent on these assets.
Be careful with USDC, it was not long ago that stable coin also present problems and some people had to accept some losses when they had to sell their USDC below the dollar parity, now this may bring the question about which stable coin is safe at all right now to hold?
For me, USDC and its centralized model, which is DAI, is much better than USDT, but due to the high liquidity that USDT enjoys, its use in platforms is much higher. Therefore, it is better to withdraw all your investments in stablecoins into cash and leave a very small percentage in investments such as USDT by 40%, USDC by 30%, and DAI by 30%, and the higher the percentage of DAI, the better.Investing in other stablecoins pairs is dangerous and I do not recommend it at all.
I have exchanged TUSD to USDT and USDC. I feel worried about the current state of the market. Even though they guarantee as a stablecoin and they have collateral, but it is important for me to secure my assets to another stable coin for now.
Be careful with USDC, it was not long ago that stable coin also present problems and some people had to accept some losses when they had to sell their USDC below the dollar parity, now this may bring the question about which stable coin is safe at all right now to hold?And unfortunately I think there is no stable coin safe to hold right now, even if it was stated over and over again that this day may come many people seem to be unprepared for the real possibility that in the future governments will attack stable coins with everything they have, as they are direct competitors to their CBDCs.
I have exchanged TUSD to USDT and USDC. I feel worried about the current state of the market. Even though they guarantee as a stablecoin and they have collateral, but it is important for me to secure my assets to another stable coin for now.
Been a few days since I posted this and it still seems to hold the peg. I am sure many holders were worried and just switched to USDT or USDC and it’s still holding up. Very strange.
Some exchanges like Kraken even added TUSD perps where you can short it if you think it will depeg. Crazy times.
Some exchanges like Kraken even added TUSD perps where you can short it if you think it will depeg. Crazy times.
It's not that far off from the $1 peg; it was way worse a few weeks ago, after it stopped minting activities via Prime Trust, causing it to lose parity for a few days, going as low as $0.995. My main concern is that we resorted to stablecoins as a means to secure our funds without turning them into fiat, and we're constantly subject to similar incidents; even the giants USDT, USDC, and BUSD have suffered similar issues before, but fortunately were quick to recover their parity. Until one day they don't, which isn't as unlikely as we want to believe, especially those algorithmic stablecoins such as TUSD, USDD, and many others.
Personally, while I don't worry too much about losing my money on a possible depegging of a stablecoin, although I've already lost a decent sum when Terra crashed (UST), it's frustrating to see FUD and price fluctuations on something that's supposed to be stable.
Without a doubt it can be a frustrating experience, but I think that what is happening is that governments do not want to tolerate stable coins anymore, they cannot get rid of bitcoin no matter what they do, but to accept a bunch of private companies to somehow go around their monopoly is something they cannot allow anymore.Personally, while I don't worry too much about losing my money on a possible depegging of a stablecoin, although I've already lost a decent sum when Terra crashed (UST), it's frustrating to see FUD and price fluctuations on something that's supposed to be stable.
With this in mind I would not be surprised if during the next decade all stable coins disappeared, and people which wanted to protect themselves in the case of a market crash had no other option but to sell their coins and get fiat in return.
This issue is quite serious, but I also consulted some sources but it really doesn't worry me much because this is not the first time a stablecoin has encountered this situation, remember USDT has also depeg quite a deep, and in the case of TUSD it is also showing signs although not at a very deep price. But the problem here is that the stability of these things is guaranteed and the intended use of it is not done with what is going on, although I think we should be more calm with this information as well.
Not the first time yes but alarming considering that they are claiming to be a stablecoin in this market.Many already learned their lesson from UST and that includes me, better not to hold any of those stablecoins because its not safe as well. This might only because of the price fluctuations but if there's an issue already, that can be a warning for you to get out of that coin and hold somewhere else.
The top cryptocurrency communities should rally round this and protect it from depending like the protected the USDC when it was perceived to be about to have the same problem. A failed top cryptocurrency project is a reference for the world government to debate against cryptocurrency and we can't allow them to be making points against this.
The community can’t do much about this especially if the project developer are the one in fault here. Let’s not see if this will go to the worst scenario but i think this is just a result of some fluctuations. The question is, can TUSD have an enough asset if ever the worst happen. If you think holding this stablecoin can help you, better to assess your strategy again and be safe from this stress.
It's not that far off from the $1 peg; it was way worse a few weeks ago, after it stopped minting activities via Prime Trust, causing it to lose parity for a few days, going as low as $0.995. My main concern is that we resorted to stablecoins as a means to secure our funds without turning them into fiat, and we're constantly subject to similar incidents; even the giants USDT, USDC, and BUSD have suffered similar issues before, but fortunately were quick to recover their parity. Until one day they don't, which isn't as unlikely as we want to believe, especially those algorithmic stablecoins such as TUSD, USDD, and many others.
Personally, while I don't worry too much about losing my money on a possible depegging of a stablecoin, although I've already lost a decent sum when Terra crashed (UST), it's frustrating to see FUD and price fluctuations on something that's supposed to be stable.
Personally, while I don't worry too much about losing my money on a possible depegging of a stablecoin, although I've already lost a decent sum when Terra crashed (UST), it's frustrating to see FUD and price fluctuations on something that's supposed to be stable.
The top cryptocurrency communities should rally round this and protect it from depending like the protected the USDC when it was perceived to be about to have the same problem. A failed top cryptocurrency project is a reference for the world government to debate against cryptocurrency and we can't allow them to be making points against this.
remember USDT has also depeg quite a deep, and in the case of TUSD it is also showing signs although not at a very deep price.
When USDT has depeg quite a deep, the lowest recorded price was at the beginning of the currency in 2015, and then $0.92 was recorded as the lowest price during the past years.
It is true that USDT does not have assets that cover the costs of stabilizing the currency, but there is a lot of liquidity and there is confidence in them, since the currency has not yet detached from it, and this thing can happen at any time.
The risks of stable currencies lie not only in losing their value, but also in their centralization. These currencies can be frozen even if they are in your wallet.
source ---> PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
This issue is quite serious, but I also consulted some sources but it really doesn't worry me much because this is not the first time a stablecoin has encountered this situation, remember USDT has also depeg quite a deep, and in the case of TUSD it is also showing signs although not at a very deep price. But the problem here is that the stability of these things is guaranteed and the intended use of it is not done with what is going on, although I think we should be more calm with this information as well.
So if a stablecoin depeg from USD, we need to be calm? what about TerraUSD where the price is very far from $1? You can't just say if a stablecoin depegged because the price isn't went to deep, that's a sign if the stablecoin might deppeged in the future. The reason why USDT is keep standing is the adoption is very high and the volume transactions is the most highest among other cryptocurrency.
This issue is quite serious, but I also consulted some sources but it really doesn't worry me much because this is not the first time a stablecoin has encountered this situation, remember USDT has also depeg quite a deep, and in the case of TUSD it is also showing signs although not at a very deep price. But the problem here is that the stability of these things is guaranteed and the intended use of it is not done with what is going on, although I think we should be more calm with this information as well.
For a long time I have been trying to invest in several pairs of these stablecoin to reduce the risk of anything happening to USDT, but the days prove to me that the stability of these currencies depends on the availability of liquidity, which exists only in USDT, and therefore the more I invest in these stablecoins, the greater the risks, not reducing them . USDT is currently the security, but in the coming years it may not be so, so I think that the end of these stablecoins is near and they may not be with us after a decade.
Thinking of reducing TrueUSD deposits is a necessary idea now.
Thinking of reducing TrueUSD deposits is a necessary idea now.
Yeah, when we think that we have more options that USDT as we might be looking as we don't trust USDT, comes a lot of those other coins de-pegging themselves. So there is still a big risk for some of the stablecoins in the market right now.
So far upon checking, it seems that it is still depegged, although it's close to $1.
But still, it's better to stay away from TUSD until they somewhat become stable.
For a long time I have been trying to invest in several pairs of these stablecoin to reduce the risk of anything happening to USDT, but the days prove to me that the stability of these currencies depends on the availability of liquidity, which exists only in USDT, and therefore the more I invest in these stablecoins, the greater the risks, not reducing them . USDT is currently the security, but in the coming years it may not be so, so I think that the end of these stablecoins is near and they may not be with us after a decade.
Thinking of reducing TrueUSD deposits is a necessary idea now.
Thinking of reducing TrueUSD deposits is a necessary idea now.
Looks like there might be another depegging going on. Apparently the company who is in charge of TUSD has gone in receivership. And there is speculation that TUSD is insolvent.
Word is out that it’s being propped by Binance and will soon depeg. Apparently you can’t redeem TUSD anymore. Someone tried to redeem for USD and got sent USDT instead. Currently it’s popular on Binance due to 0 fees and much of this stablecoin is locked up.
However if you look at the curve stats you can see that something like 70% is of the TUSD stablecoin. Also looks like a slight depeg just started at 0.9975
I have seen it shaking way worse before. Might be just starting but in charts it doesn't seem that much.Word is out that it’s being propped by Binance and will soon depeg. Apparently you can’t redeem TUSD anymore. Someone tried to redeem for USD and got sent USDT instead. Currently it’s popular on Binance due to 0 fees and much of this stablecoin is locked up.
However if you look at the curve stats you can see that something like 70% is of the TUSD stablecoin. Also looks like a slight depeg just started at 0.9975
Funny thing is that all of these coins were created as alternative to ustd because people thought it wasn't going to be solvent enough and there was market for alternatives.
USDT is still standing, and it had the most fud any stable coin ever recieved. That says something.
Looks like there might be another depegging going on. Apparently the company who is in charge of TUSD has gone in receivership. And there is speculation that TUSD is insolvent.
Word is out that it’s being propped by Binance and will soon depeg. Apparently you can’t redeem TUSD anymore. Someone tried to redeem for USD and got sent USDT instead. Currently it’s popular on Binance due to 0 fees and much of this stablecoin is locked up.
However if you look at the curve stats you can see that something like 70% is of the TUSD stablecoin. Also looks like a slight depeg just started at 0.9975
I don't find any reasons to have more stable coins since we already have many stable coins with high trading and market cap volume still it's highly risky cause it's centralized and can fall to zero on just a blink. I don't know the existence of TUSD but since it's mostly available on Binance then we can expect such pressure on them since Binance has their own stable coin which is BUSD so they won't let other stable coin usage. Word is out that it’s being propped by Binance and will soon depeg. Apparently you can’t redeem TUSD anymore. Someone tried to redeem for USD and got sent USDT instead. Currently it’s popular on Binance due to 0 fees and much of this stablecoin is locked up.
However if you look at the curve stats you can see that something like 70% is of the TUSD stablecoin. Also looks like a slight depeg just started at 0.9975
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