On Saturday, the Blockonix dex took to its official Twitter account to let the crypto community know that it is going to launch trading pairs with the TrueUSD stablecoin.
Blockonix mainly trades tokens based on Ethereum, its ERC20 standard. It also tends to promote exchanges and payment services that are powered by ETH.
The dollar-pegged TrueUSD coin will be traded against ETH and Tether (USDT), another stablecoin, which is currently on the top-ten list of coins and has been recently called by a research ‘the best stablecoin’.
TUSD market stance
Currently, TrueUSD is a member of the list of top-30 crypto assets, where it sits in position #27. With the market cap totalling $208 525 593, the stablecoin is presently trading at $1.01, having lost 0.33 percent over the last 24 hours.
At the time of writing, TrueUSD, as well as USD Coin and Paxos Standard Token (all three are stablecoins), are trading in the red, whereas Maker, Dai and Gemini Dollar are rising.
Dexes are the newish trend
Decentralized exchanges have become popular recently, turning into a major trend. Large centralized crypto exchanges are competing for this emerging market, setting up dexes.
Recently, Binance has launched a test version of a crypto dex. So did Tron: the exchange is dubbed TRXMarket, which currently collects no fees from customers for transactions. Earlier, U.Today reported that Bibox exchange had acquired the second largest global dex called DEx.top.
Objectors to centralized crypto exchanges
Decentralized exchanges allow P2P trading without any centralized management team controlling the trading process and having access to customer accounts.
This summer, the famous leader of opinions in the crypto sphere, John McAfee, expressed his deeply negative position against centralized exchanges on Twitter, saying that they will disappear in the future. A discussion with the Binance CEO then followed.
There are cases when users lost their entire balances on such exchanges, claiming to have been robbed. A while ago, U.Today reported about one such case regarding Binance.