Source: TUSD

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2024 is considered a year full of hope for the cryptocurrency industry. Unlike the chaos and silence caused by pessimism towards the market at the beginning of last year, as we enter 2024, various leading institutions have released their own research reports at the beginning of the year, expressing optimism towards the cryptocurrency market. The research reports cover a wide range of topics, including macro trends in the future market and micro-level research on high-quality projects in various fields, including stablecoins in the infrastructure sector.

The author reviewed the research reports on the stablecoin project TUSD from three well-known institutions, CoinGecko, CoinMarketCap, and Messari, and found that all three have issued research reports on it and analyzed it from different perspectives. As a dark horse in the stablecoin market last year, TUSD has won the support of many top exchanges and institutions, and many people are curious about what TUSD relies on to overtake others. Below, the author will analyze the research report contents of the three institutions on TUSD one by one and explore the mystery of TUSD with everyone.

CoinGecko：

The CoinGecKo report focuses on the operational mechanism of TUSD and the growth of TUSD in terms of asset management scale, stablecoin circulation, industry popularity, and technological development over the past year. CoinGecKo believes that compared to other stablecoins of the same type, TUSD has outstanding advantages in reserve proof, support from multiple exchanges, and cross-chain compatibility. TUSD has established partnerships with multiple platforms in the payment field, such as travel platform Travala.com and Web3 shopping platform UQUID, and has a wide range of practical use cases.

Additionally, CoinGecko emphasized the TUSD's continuous commitment to improving its transparency and security, citing the following reasons:

· TUSD's validation service and reserve proof report are provided by well-known accounting firm Moore Hong Kong;

· With the support of Chainlink oracle, users can verify the solvency and stability of stablecoins at any time.

Overall, CoinGecko is very optimistic about TUSD and believes that "compared to other stablecoins, TUSD is becoming more and more popular, providing investors with a new choice that can both preserve value and be consumed at any time."

CoinMarketCap：

The research report from CoinMarketCap has a more comprehensive perspective compared to CoinGecko, and it is also longer. In addition to the advantages of transparency and security of TUSD itself, CoinMarketCap also emphasizes the achievements of TUSD in market development and the process of minting or redeeming TUSD.

CoinMarketCap highlighted the collaboration between TUSD and Binance, which provides users participating in Binance Launchpad project with convenient investment channels. Binance has now listed 13 TUSD spot trading pairs and TUSD has been approved as collateral for leveraged trading on Binance. With the support of platforms such as Binance, TUSD has built a thriving DeFi ecosystem and has been widely used in many projects. For example, the 24-hour trading volume of crvUSD/TUSD trading pair on the leading decentralized exchange Curve Finance is close to $1 million, with a liquidity of $4.2 million.

In addition, according to CoinMarketCap's estimate, the acceptance of stablecoins in the mainstream financial industry is increasing. In the long run, the stablecoin race is about to enter a new stage of strengthened regulation, tightened policies, and deeper integration with traditional finance. As the stablecoin industry matures, the industry may generally upgrade its reserve proof schemes and increase transparency, thereby winning more trust from users and regulatory agencies. In terms of transparency, TUSD has set a benchmark for the industry by integrating with Chainolink PoR to ensure real-time on-chain auditing and cooperating with top auditing agencies to issue daily audits.

Messari

Similar to the two research reports above, Messari also pays attention to the progress of TUSD in expanding its integration with partners, and recognizes these efforts. It believes that these measures collectively reflect TUSD's commitment to establishing a strong influence in the payment, transaction, and DeFi fields. TUSD's high availability will strengthen its potential for use and the role it may play in the crypto economy.

But unlike CoinGecko and CoinMarketCap's optimistic evaluation of TUSD, Messari's research on TUSD is more comprehensive. Messari acknowledges that TUSD continues to lead in transparency, but also points out that although the number of holders has remained relatively stable, the supply has decreased by the end of 2023. In addition, Messari also reviewed some of the risk events that TUSD experienced in 2023 and TUSD's response to them, with a more objective analysis process.

Messari believes that Q4 of TUSD is a balanced quarter for TUSD, although supply and usage have decreased, transparency and partnerships have continued to grow. At the same time, Messari predicts that leveraging the integration and partnerships developed during the bear market period to seek a recovery in usage growth by 2024 will be a focus of TUSD's development.

Summary

Although the three research reports have different focuses and lengths, they all pay attention to the characteristics and advantages of TUSD in the stablecoin field. CoinGecko focuses on TUSD itself and its mechanism, CoinMarketCap talks about the progress and ecology of TUSD, and Messari reviews the market performance of TUSD in 2023. All three highly praise the future development potential of TUSD and regard it as the key project worth paying attention to in the stablecoin industry in 2024.

Overall, in 2023, the entire cryptocurrency industry went through a bear market and despair, and began to usher in a small bull market trend. In 2024, the demand for stablecoins in the market will further increase. With the development of the industry, looking to the future, the long-term viability and success of stablecoins will ultimately depend on achieving better user experience, more on-chain use cases, and more secure and transparent reserve information. As the research report said, this is exactly what TUSD has been doing for a long time.

Finally, this article only summarizes the research reports on stablecoin TUSD issued by three institutions, and does not constitute financial or investment advice. The links to the three research reports are as follows:

https://coinmarketcap.com/academy/article/everything-you-need-to-know-about-trueusd-tusd

https://www.coingecko.com/learn/what-is-trueusd-tusd

https://messari.io/report/state-of-tusd-q4-2023?utm_medium=organic_social&utm_source=twitter_messari&utm_campaign=state_of_tusd_q4_2023

This article is from a submission and does not represent the views of BlockBeats.

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