Binance, one of the world’s largest cryptocurrency exchanges, has reported that the Bitcoin-Tether (BTC-USDT) trading pair is still the most liquid despite the higher trading volumes for the TrueUSD (TUSD) pair. This report comes as a surprise to many in the cryptocurrency community who have been closely following the rise of stablecoins like TUSD.
Stablecoins are cryptocurrencies that are pegged to a stable asset like the US dollar or gold. They are designed to provide stability to the volatile cryptocurrency market and offer a more reliable store of value for investors. Tether (USDT) is one of the most popular stablecoins and is pegged to the US dollar.
TrueUSD (TUSD) is another stablecoin that has gained popularity in recent months. It is also pegged to the US dollar and is backed by a network of trust companies that hold the corresponding US dollars in reserve.
Despite the growing popularity of TUSD, Binance’s report shows that the BTC-USDT pair is still the most liquid trading pair on their platform. Liquidity refers to the ease with which an asset can be bought or sold without affecting its price. A more liquid asset is generally considered to be more desirable as it allows for faster and more efficient trading.
Binance’s report shows that the BTC-USDT pair has an average daily trading volume of $1.3 billion, while the TUSD-USDT pair has an average daily trading volume of $200 million. This means that while TUSD may be gaining popularity, it still has a long way to go before it can compete with BTC-USDT in terms of liquidity.
The report also shows that the BTC-USDT pair has a tighter bid-ask spread than the TUSD-USDT pair. The bid-ask spread is the difference between the highest price a buyer is willing to pay for an asset and the lowest price a seller is willing to accept. A tighter bid-ask spread indicates that there is more trading activity and liquidity for that asset.
Binance’s report is significant as it shows that despite the growing popularity of stablecoins like TUSD, Bitcoin and Tether are still the dominant trading pair on their platform. This suggests that investors still have more confidence in Bitcoin and Tether as a store of value and means of exchange than they do in stablecoins.
In conclusion, Binance’s report shows that the BTC-USDT pair is still the most liquid trading pair on their platform despite the higher trading volumes for the TUSD-USDT pair. This suggests that investors still have more confidence in Bitcoin and Tether as a store of value and means of exchange than they do in stablecoins. However, the growing popularity of stablecoins like TUSD suggests that this may change in the future as more investors seek stability in the volatile cryptocurrency market.
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