The TrueUSD (TUSD) stablecoin has recently experienced a significant deviation from its 1:1 peg with the US Dollar, marking a noteworthy event in the cryptocurrency market. The price of TUSD plummeted below $1, reaching as low as $0.92 on the Poloniex exchange, driven by intensified selling pressure. Over the past 24 hours, the TUSD/USDT trading pair on Binance witnessed a substantial trading volume, with sales surpassing $435 million and purchases totaling around $370 million. This resulted in a net outflow of TUSD amounting to $65 million.

The sell-off pressure on TUSD appears to stem from concerns among holders, triggered by uncertainties surrounding the stablecoin's backing and reserves. The instability of the Poloniex exchange has further contributed to the apprehension, ultimately leading to the depegging of TUSD.

In light of these developments, caution is advised for those considering involvement with TUSD due to its heightened risk profile. This is not the first instance of TUSD depegging, highlighting the need for vigilance. Alternatively, considering stablecoins with higher market capitalization, such as USDC or DAI, may provide a more stable and reliable alternative for risk management and hedging against market fluctuations. This dashboard aims to analyze and visualize the key metrics and factors contributing to the depegging of TrueUSD, offering valuable insights for investors and stakeholders in the cryptocurrency space.

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Now, we are going to get through crucial on-chain metrics, including TUSD transactions, user engagement, transfer volumes, and liquidity on both decentralized (DEXs) and centralized exchanges (CEXs). From wallet balances to the interplay between DEXs and CEXs, this dashboard provides a concise overview of TUSD's on-chain dynamics during this transformative period.

Let's navigate the intricate landscape of TUSD's on-chain activity together and make informed decisions in the ever-evolving world of digital assets.

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Dashboard by Ali3N

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