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Bitcoin’s TUSD Parity Captures USDT

BTC/TUSD trading volume on Binance, the world’s largest cryptocurrency exchange, reached 49%, almost catching up with BTC/USDT trading volume. BTC/TUSD trading volume on Binance has caught up with BTC/USDT, according to information provided by on-chain data provider Kaiko. Kaiko analysts believe that a significant role behind this increase in the TrueUSD (TUSD) side is Binance’s zero transaction fees in the BTC/TUSD trading pair.

The decision of Paxos, the issuer of Binance USD (BUSD), to terminate BUSD issuance after pressure from US regulators, pushed Binance to use TUSD. With this move, Binance has increased its weight on TUSD, which waived the zero transaction fee it provides in Bitcoin parity for BUSD and USDT.

On the other hand, Kaiko’s research manager, Clara Medalie, stated that despite the zero fee tariff applied by TUSD, investors still seem to have not given up on Tether (USDT) and gave the following details in her statement:

What happened on the TUSD side was recorded as a big increase in just a few weeks. However, investors still seem reluctant to use TUSD despite the zero fee, and there are still more serious USDT buy-sell orders.

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