TUSD Depegged Following Removal From Binance Launchpools
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- According to Kaiko Research, a recent decision by Binance is significantly impacting the value of TrueUSD (TUSD).
- The TUSD stablecoin depegged following its removal from among the staked stablecoins on Binance’s two Launchpools.
- Until last week, over $1 billion TUSD tokens were regularly staked on the Binance exchange.
According to Kaiko Research, a leading crypto market data and analytics platform, a recent decision by Binance is significantly impacting the value of TrueUSD (TUSD). Kaiko noted that the TUSD stablecoin depegged following its removal from among the staked stablecoins on Binance’s two Launchpools.
In a notable development, Binance recently altered the operational model of its Launchpools by removing TUSD as one of the staked tokens, leaving only BNB and FDUSD. Before the removal, users on the exchange could stake any of the three tokens to receive rewards in the form of newly launched tokens.
Until last week, over $1 billion TUSD tokens were regularly staked on the Binance exchange, representing over half of the stablecoin’s market cap. However, its removal from the Binance Launchpool triggered a mass selloff of the stablecoin. Kaiko�…
The post TUSD Depegged Following Removal From Binance Launchpools appeared first on Coin Edition.
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