The market value of a little-known digital token doubled in a month after the world’s largest cryptocurrency exchange, Binance, started to heavily promote the coin on the platform
Illustration: Mallory Brangan.
Binance removed spot bitcoin trading fees for TrueUSD in March, and the coin’s market value soared to $2.1 billion, an increase of about $1 billion, according to CoinMarketCap data. TrueUSD is currently the only stablecoin—a cryptocurrency pegged to the dollar—that Binance users can trade for bitcoin free.
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