Launched in mid-April, Pepe Coin continues to stay on the crypto agenda with new exchange listings. On the other hand, a new coin, which has caused controversy between Binance and Tron CEOs, is approaching to trigger Pepe Coin-like hype.
This altcoin fuels the use of TUSD: PEPE next?
Sui is a layer-1 Blockchain that supports the growth of DeFi and GameFi by offering instant certainty in transactions. The network’s native token, SUI, is currently farming similar to an ICO. TUSD is used to farm SUI. Stablecoin has become one of the most in-demand tokens lately. In addition, it should be noted that Binance broke a record with $ 200 million in USDT pair.
As a result, TUSD started to lose price stability and reached $1.2 against $1 of USDT. Also, thanks to Binance cutting BTC/TUSD transaction fees to zero, TUSD has become one of the most traded stablecoins despite being relatively unknown.
However, aside from just individual demand, TUSD has caught the attention of investors after the recent Changpeng Zhao (CZ)-Justin Sun tension. Binance CEO warned the Tron founder not to collect any SUIs with TUSD deposits. cryptocoin.comWe have included the details in this article.
Justin Sun gets backlash over SUI transfer
The Tron founder has been criticized for allegations that he will collect massive SUI by staking over a million TUSD in BNB or TUSD. Realizing this, Binance CEO CZ wrote on Twitter at the time:
Our team told Justin that if LaunchPool uses any of these to collect Sui, we will “take action against it.” Binance LaunchPool provides airdrops not just for a few whales, but for our many users. The good thing is that Blockchain is transparent…
经查，作为TUSD的合作做市商TRON DAO Venture过去数小时已经累计完成4000万美元的交易量，对于保持TUSD的价格稳定起到了作用，确实因部分同事不了解该资金用途，使用部分资金参与了交易所活动，我们已第一时间联络交易所，对于交易所活动资金进行全额退款，对此错误我们深表歉意！望周知！
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 1, 2023
Sun later said that he only acts as a market maker for TUSD. He justified himself by claiming that he added more supply to improve liquidity and close pending orders.
SUI Coin started trading on major exchanges today
SUI is now garnering a lot of attention on social media. CZ and Sun might not have been that noticeable to each other in this regard. The altcoin is currently in the midst of a lot of interest, with transit and exchange listings on the mainnet dated May 3. However, it should be noted that it did not make its last investors happy in terms of price.
What is SUI Coin?
Altcoin is a smart contract platform managed by a group of disallowed validators, similar to validators or miners in other Blockchain systems. Sui offers scalability and unmatched low latency for simple use cases. It can process most processes in parallel. This makes it possible to better use compute resources and increase the throughput by adding more resources.
