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Troubleshooting a widely asked question by Sfomo users: “What is the difference between USDT and TUSD?” and the reason why everytime TUSD is accumulated, the market will fall?
1. So what is USDT?
USDT or Tether is a project of Tether Limited, the idea was that the amount of USDT in circulation matched the amount of actual US dollars held in Tether Limited’s accounts.
USDT value is tied to actual US dollar with 1:1 ratio.
2. And what is TUSD?
TUSD or TrueUSD is a project of TrustToken team. It was built on the Ethereum smart contract platform (ERC-20) and the initial idea was similar to USDT. However TUSD is a series of asset-backed tokens. TUSD will not be affected by any incident of the market. It always stay at a certain point equal to 1 USD.
3. So what are the differences between USDT and TUSD?
USDT (Tether): The most controversial point of tether is that it is minted depending on the account report of Tether Limited.
This means that Tether Limited can play cheating in which they mint massive USDT for personal purposes. Practice shows that USDT has been sued by countless number of individual and organization around the world. How can we are sure that Tether Limited’s account has enough US dollar that equal to the circulation of USDT on the market?
TUSD (TrueUSD): TUSD was created with the collaboration between TrustToken and lots of trustworthy banks. TrustToken is usually audited by a third party company.
Any individual desire to own TUSD can directly access to the project’s website and sign up then provide them with that user’s Ethereum wallet. After that you can depostit US dollar to one of TrustToken’s third-party partners. TrustToken then initiates a TrueUSD smart contract, in which the equivalent amount of TrueUSD is “minted” and delivered to your wallet.
All of these mean that TrustToken can be seem to be transparent and supervised by trusted financial institutions in the world. Making sure that TUSD is always backed by real assets and the value of TUSD is always equal to 1$.
4.So why everytime Sfomo announce for accumulation of TUSD in great quantity, the market would fall?
As we mentioned above, TUSD is a coin that always have a ratio 1:1 to US dollar, or we can say 1 TUSD equal to 1 US dollar.
Therefore when ever investors and whales want to move their capital out of the market or simply secure their assets before any bad incidents; they would use the following ways:
1. Trade Altcoins on exchanges that allow Fiat trading (so they can sell out to fiat money)
2. Trade Altcoin with TUSD, this would help investors’ accounts not decrease their value in term of US dollar when the market has bad incident.
Accumulating TUSD means that it is a sign of the fear and extraction out of market from investors.Once the market has no sign of investing left, price decreasing is unavoidable.
Sfomo is a tool announcing for fluctuation and the moving trend of the money flow inside Crypto market. From Sfomo signals, traders can completely make precise analysis for the market in upcoming period.
We hope that the information we shared in this video would help you expand your knowledge and you are able to distinguish USDT and TUSD as well as making market’s trend prediction based on them.
Sfomo App is the first application that Track New Crypto Listings and shark tracking functionality. Sfomo is an application built to assist traders in trading cryptocurrency. Sfomo’s functions are:
– Coin Listing Exchange Announcement
– Trade signals (including Pump, Shark Bid, Up rice and Fomo rice)
– Cryptocurrency News
– Sfomo manual user: https://drive.google.com/file/d/1Edu7YsVazwbW1NgMjydlfUbxx5u-ppQv/view
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– Twitter: https://twitter.com/SfomoGlobal?lang=en
– Sfomo official website: https://sfomo.com/
– Sfomo Global News: https://t.me/SfomoGlobalNews
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