Major Crypto Exchange Now Offers Trading Pair for Dogecoin (DOGE)
Binance, a leading cryptocurrency exchange, has announced it will add a new trading pair for Dogecoin (DOGE) against TrueUSD (TUSD) on April 28. Currently, the largest liquidity for DOGE is against USDT on Binance, with over 20% of all DOGE trades taking place in this pair. However, with the announcement of the DOGE/TUSD trading pair, this is likely to change. Binance chose TUSD after Paxos discontinued BUSD due to claims from the SEC, which alleged a violation of the Investor Protection Act. TUSD is the first regulated stablecoin to be fully backed by the U.S. dollar, according to the issuing company.
Binance announced its support for TUSD as a native token on the BNB Chain less than two weeks ago. Since then, the exchange has seen a significant increase in the share of BTC traded in pairs with TUSD. This increase is due in part to zero commissions on BTC trades in pairs with TUSD. Within a month, BTC/TUSD has become the largest Bitcoin pair on the exchange, exceeding 50% of the market for the first time last week and surpassing BTC/USDT.
As TrueUSD claims, TUSD works with banks and cryptocurrency companies to exchange its tokens for fiat. It is also the first stablecoin with proof of reserves implemented through Chainlink’s oracle to ensure consistently sufficient collateral.
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