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With the Ethereum and Bitcoin price trend teasing a bullish jump ahead, the altcoins market anticipates a massive surge in the coming week. Amidst the recovering rally, the low-cap crypto on Page 3 on Coinmarketcap is known for massive jumps and even reaching the top 100 list sometimes.
Investors will be able to take out crypto loans by pledging TrueFi's U.S. Treasury bill tokens, with plans to expand collateral to other types of tokenized RWAs, according to the proposal.
The credit protocol saw a peak in real-world assets two years ago. Now, it is looking to revive the market.
A little-known cryptocurrency has seen its price surge nearly 60% in a week after a massive crypto whale accumulated around $1.18 million worth of the cryptocurrency, whose current market capitalization is below the $100 million mark. According to data from blockchain monitoring service Lookonchain, the cryptocurrency whale bought earlier this week 7.
The price of the TrueFi token, TRU, rose by more than 60% in today's trading session, while the crypto market continued to decline for the second week in a row. Impressive price action for the token occurred while TrueUSD (TUSD) became the fifth largest stablecoin, according to CoinMarketCap.
TrueFi (TRU/USD) has surged by more than 200% since yesterday after Binance announced that it had minted 50 million True USD (TUSD/USD) stablecoins. The move comes days after the US SEC started a regulatory crackdown on Binance USD (BUSD/USD), Binance's native stablecoin.
Binance, one of the world's largest cryptocurrency exchanges, has announced that it has minted $50 million worth of TrueUSD, a stablecoin pegged to the US dollar. This decision comes after the New York State Department of Financial Services (NYDFS) halted the issuance of another stablecoin, BUSD, by Paxos, amid regulatory scrutiny.
TRU popped over 145% after Binance minted $50 million in TUSD.
Binance has made good on its recent promise to support the stablecoin ecosystem.
As the crypto market remains volatile, investors closely watch global events that could impact the crypto market, and some altcoins are showing green.
The rally appears to come from traders mistakenly connecting TRU with TUSD, a stablecoin that had been issued by TrueFi in the past but now no longer is.
Digital asset firm Gemini is pleased to add support for a new set of crypto tokens. The following digital tokens are currently available for deposits and custody on Gemini: Alethea AI (ALI) TrueFi (TRU) Trading for these tokens will follow, “opening first on the firm's.
