⇑ TRU Coin's Dynamic Prospects: Major Developments and Market Movements
TrueFi (TRU) has made multiple advancements in the cryptocurrency market, introducing novel concepts and expanding its reach. Recently, the...
Amidst the captivating buzz surrounding the crypto space, certain intriguing developments related to the TrueFi (TRU) coin have recently emerged. Firstly, TrueFi has rolled out a lending protocol for tokenized real-world assets, resulting in a substantial 14% surge in TRU's value. TrueFi also introduced a dollar-based TRI token that will specifically facilitate real-world asset trading.
Adding to the fervor, Elon Musk aligns with Bitcoin critic Warren Buffett on the concept of 'True Currency', creating insightful discourse concerning crypto price fluctuations. TrueFi manages to secure a position among the top 5 Real-World Assets (RWA) cryptocurrencies likely to make significant strides by 2024.
Equally newsworthy, TrueFi's TRU Token experienced over a 200% rally following Binance's TUSD mint, causing intrigue among speculators. The TrueUSD stablecoin, conversely, is met with challenges as holders divest $330M in TUSD.
A significant milestone was the launch of Axie Infinity (AXS), Request (REQ), TrueFi (TRU), and Wrapped Luna (WLUNA) on Coinbase Pro. Fascinatingly, a16z, BlockTower, and Alameda have backed a $12.5M round for TrustToken.
Despite these advancements, TrueFi faces some serious hiccups, such as an unresolved $4M bad debt showcasing the perils of crypto lending without collateral. This was followed by a notice of default issued to Invictus Capital, who defaulted on their loan. The lending protocol had a similar confrontation with VC firm Blockwater on a $3M loan. Unfortunately, the U.S. SEC has also charged TrueCoin and TrustToken for their stablecoin investment program.
TRU Coin News Analytics from Fri, 17 Apr 2015 08:49:26 GMT to Sun, 06 Oct 2024 08:32:40 GMT - Rating 4 - Innovation 2 - Information 8 - Rumor 3