In recent months, the crypto markets have witnessed significant turbulence leading to the lowest quarterly trade volume since 2020. Amid varying economic factors, a bearish perception of investors toward cryptocurrencies and the broader economic climate reflects a dynamic yet challenging landscape. Kaiko, a crypto market data provider, shed light on this development alongside various key industry trends. Despite the lowered trade volumes, the crypto industry concluded the quarter positively, demonstrating resilience. Challenges Faced By TrueUSD And Impact On Crypto Market Prime Trust, the crypto custodian of TrueUSD (TUSD), has encountered financial difficulties, placing the stablecoin under scrutiny. The custodian’s financial shortfall, amounting to approximately $82 million, led to significant challenges, with customers unable to execute withdrawals. Related Reading: Crypto Market Cap Poised For Breakout: Analyst Predict 23% Upside Potential The challenges also included considerable sales pressure on TrueUSD on decentralized exchanges after the disclosure that True USD’s present auditing firm is a restructured version of FTX’s auditor. However, despite the selling pressure on decentralized exchanges, the price of TUSD remained around $0.999. Kaiko revealed that the potent ..
Support the originator by clicking the read the rest link below.
