- TUSD depegged from the US dollar this week, marking its second depeg from $1 in the last two months.
- The stablecoin lost parity with the US dollar and fell to $0.9685.
- The recent drop reminded users of the USTC depeg in 2022 ahead of the infamous TerraLUNA crash.
TrueUSD (TUSD) depegged from the US dollar this week, marking its second depeg from $1 in the last two months. Losing parity with the US dollar and falling to $0.9685 reflected a familiar situation for many crypto users. It reminded them of the USTC depeg in 2022 ahead of the infamous TerraLUNA crash.
According to reports, a mass selling by whale addresses caused an unnatural movement in TUSD price last Monday. Data from the Binance exchange showed that a lack of TUSD mining on one of its latest Launchpools resulted in the stablecoin’s dump. The crypto exchange recorded TUSD outflows of $377.2 million within 24 hours.
That is the second noticeable TUSD depeg in the last two months. The earlier event happened in November 2023, with the stablecoin losing parity with the US dollar and dropping to $0.988.
By losing over 1.42% of its…
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