The burgeoning cryptocurrency landscape welcomes an important addition with the release of the TrueFi protocol that facilitates lending transactions with tokenized real-world assets. Following its launch, TRU, the associated cryptocurrency saw a positive impact with a 14% increase in value. TrueFi also introduced the dollar-based TRI token for real-world asset trading. Meanwhile, in terms of platforms accommodating TRU, Coinbase Pro confirmed it would be launching TrueFi, alongside other cryptocurrencies such as Axie Infinity and Request.
Significantly, TrueFi's TRU's token gathered momentum, substantially rallying by over 200% following speculation sparked by Binance's TUSD Mint. TrueUSD recently became the 5th-largest stablecoin as Binance minted $130M TUSD in the span of a week. Additionally, the concurrent depegging of the TrueUSD stablecoin saw holders divesting $330M worth in TUSD. Even as TrueFi continues revolutionizing the DeFi landscape, a breach highlighted the inherent risks of crypto lending without collateral - a clear instance of TrueFi's $4M bad debt in limbo.
Although Golden Sachs and Coinbase alumni recently announced the debut of TrueX, a stablecoin-centric crypto exchange, it's unclear how this directly impacts TRU. Market predictions for TrueFi indicate a promising outlook, suggesting potential investor interest.
TRU Coin News Analytics from Mon, 09 Jan 2012 08:00:00 GMT to Wed, 16 Oct 2024 13:24:00 GMT - Rating 6 - Innovation 7 - Information 8 - Rumor -3