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CoinMarketCap Research Releases Report on TrueUSD: Market Share Increased by 238% in 2023

Chainwire · Feb. 7, 2024 at 12:29 pm UTC · 1 min read
CoinMarketCap Research Releases Report on TrueUSD: Market Share Increased by 238% in 2023

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Dubai, UAE, February 7th, 2024, Chainwire – CoinMarketCap Research released a report on TrueUSD (TUSD), the USD-pegged stablecoin that offers live, on-chain attestations of its reserves by independent, third-party accounting firms.

The report highlighted that TUSD’s market share in the stablecoin sector increased by over 238%. In 2023, TUSD’s market share increased from 0.53% to 1.79%, and TUSD’s total market capitalization rose from $799.31 million to $2.31 billion within that same timeframe. This growth emphasizes its expanding position in the market.

The report also dives into a key distinguishing factor of TUSD’s transparency, where TUSD provides live, on-chain attestations of the reserves backing the stablecoin. The reserve data is ​​compiled by an independent, U.S.-based accounting firm, The Network Firm LLP. The stablecoin will also receive daily attestation and reports In late January 2024 by MooreHK, the Hong-Kong arm of leading accounting firm Moore Global. TUSD has also integrated Chainlink’s Proof of Reserve (PoR) technology, making TUSD the first USD-backed stablecoin to incorporate real-time verification of off-chain USD reserves.

Read the full report here: https://coinmarketcap.com/academy/article/everything-you-need-to-know-about-trueusd-tusd

ABOUT COINMARKETCAP

CoinMarketCap is ‘Home Of Crypto’, the world’s most trusted cryptocurrency data authority. Its mission is to accelerate the crypto revolution by organizing the world’s crypto intelligence and making it easily accessible to all.

 

Contact

CMC Research
Alice Liu
CoinMarketCap
[email protected]

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