TUSD Circulating Supply Grows to $3.13 Billion, Up 56.5%, One Week Before Bitcoin Breaks $30,000

According to an article published by CryptoSlate, Glassnode data shows that in the week before bitcoin's rise above the $30,000 mark, the supply of the stablecoin TrueUSD in circulation increased significantly, from just over $2 billion on June 14 to $3.13 billion on June 21, up 56.5 percent. 

According to the article, CEX has been accounting for most of the total ERC-20 supply of TUSD. 2023 year-to-date, CEX's TUSD supply has increased by 63.7%, and in the ten days leading up to June 21, CEX's TUSD supply increased by 14.5%. In addition, CEX introduced zero pending fees for TUSD spot and margin pairs on June 21, a move that could lead to an increase in BTC/TUSD trading volume. According to CEX data, the daily trading volume of the CEX BTC/TUSD pair as of June 23 is close to 7.2 million BTC and 2.1 billion TUSD.