Trueusd (TUSD) Faces Fluctuations Below $1
Trueusd (TUSD), currently the fifth-largest stablecoin by market capitalization, has been experiencing fluctuations below its U.S. dollar peg since January 15, 2024. On January 17, TUSD's value dipped to $0.9709 per unit. Although it briefly recovered to the $0.99 mark the next day, as of 10:30 a.m. Eastern Time (ET) on Thursday, TUSD was trading between $0.979 and $0.981.
This trading range impacts its market valuation, especially with a circulating supply of 1.864 billion TUSD tokens, bringing its market capitalization to approximately $1.829 billion. In the last 24 hours, TUSD has seen a global trade volume of $60.55 million. Binance, a leading cryptocurrency exchange, emerges as TUSD's most active trading platform and the principal holder of its Tron and Ethereum supplies, as indicated by wallet statistics.
GHO Achieves Milestone with $0.99 Range
As TUSD struggles, GHO, the stablecoin created by Avara (previously Aave), has achieved a significant milestone by reaching the $0.99 range on January 25. Since its launch in July 2023, GHO has consistently traded below its target peg. The Avara team implemented various strategies to elevate its value. On October 24, 2023, GHO's value hit a low of $0.917 per unit. However, by early December 2023, it had ascended above the $0.98 mark.
Fast forward to Thursday, January 25, 2024, and GHO marked its first ascent above the $0.99 range since inception. Remarkably, the stablecoin peaked at $0.994 before briefly dropping to $0.989. Since 9:40 a.m. (ET), GHO has consistently maintained above the $0.989 level. Reflecting this upward trend, the decentralized exchange (dex) Curve Finance recorded GHO trading at 0.9965 per unit as of 11:25 a.m. ET.
Share Your Thoughts
What are your thoughts on TUSD's issues with holding its intended peg? Do you have any opinions on GHO jumping above the $0.99 range on Thursday? Let us know in the comments section below.
Frequently Asked Questions
Can I add gold to my IRA?
The answer is yes You can add gold to your retirement plan. Gold is a great investment as it doesn't lose money over time. It protects against inflation. It also protects against inflation.
It's important to understand the differences between gold and other investments before investing in it. Unlike stocks or bonds, you can't buy shares of gold companies. You cannot also sell them.
You must instead convert your gold into cash. This means that it will be necessary to dispose of the gold. It is not possible to keep it.
This makes gold different from other investments. Similar to other investments, gold can be sold at any time. But that's not the case with gold.
Even worse, gold cannot be used to secure loans. For example, if you take out a mortgage, you may give up some of your gold to cover the loan.
What does this translate to? It's not possible to keep your gold for ever. You'll eventually need to convert it into cash.
You don't have to worry about this now. All you have to do is open an IRA account. You can then invest in gold.
What is a Precious Metal IRA, and how can you get one?
Precious metals can be a good investment for retirement accounts. Precious metals have been around since Biblical times and still hold their value today. You can diversify your portfolio by investing in precious metals, such as gold, platinum, and silver.
In addition, some countries allow citizens to store their money in foreign currencies. You can buy gold bars in Canada and keep them at home. You can then sell the same gold bars to Canadian dollars when you return home to visit your family.
This is a great way to invest in precious metals. It's especially useful for anyone who lives outside North America.
Which type of IRA works best?
When choosing an IRA, it is important to choose one that suits your lifestyle and goals. You must consider whether you want to maximize tax-deferred growth on your contributions, minimize taxes now and pay penalties later, or just avoid taxes altogether.
The Roth option may make sense if you are saving for retirement but don't have much other money invested. It also makes sense if you continue working after age 59 1/2 and expect to pay income taxes on any accounts withdrawals.
The traditional IRA is better if you want to retire earlier because you will likely owe tax on your earnings. The Roth IRA is a better option if you plan to continue working well beyond age 65. It allows you to withdraw any or all of your earnings and not pay taxes.
Is it possible to hold precious metals in an IRA
The answer to this question depends on whether the IRA owner wants to diversify his holdings into gold and silver or keep them for safekeeping.
Two options are available for him if diversification is something he desires. He could either purchase physical bars or silver from a seller, or return these items to the dealer at end of the year. Let's say he doesn’t want to sell back his precious metal investment. In this case, he should hold onto the investments as they are perfect for storing inside an IRA account.
Statistics
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
External Links
wsj.com
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
takemetothesite.com
regalassets.com
How To
How to get started buying silver with an IRA
How to start buying Silver with Your IRA – The best method to invest directly in silver or gold is through the direct ownership of physical bullion. Silver coins and bars are the most popular form of investment because they offer diversification, liquidity, and convenience.However, many prefer owning physical bullion over paper certificates or electronic currency.
There are several options for buying precious metals, such as silver and gold. You can buy them directly from their producers such as refiners and mining companies. If you don't want the hassle of dealing with a producer directly, you can purchase them from a dealer that buys and trades bullion products.
This article will show you how to get started investing in silver using your IRA.
- Investing In Gold & Silver Directly – This is the best option to buy precious metals. This involves getting the bullion and having it delivered to your doorstep. Some investors store their bullion in their home. Others choose to store their bullion in a safe storage location that is insured and protected. When you hold onto your precious metal, ensure you're storing it properly. Most storage facilities offer insurance coverage that protects against theft, fire, or damage. But even with insurance, you risk losing your investments due to natural disasters or human error. The safe storage of precious metals at a bank or credit card union is always recommended.
- Online Precious Metals Shopping – Bullion online can be a great alternative to carrying around heavy boxes. Bullion dealers have a wide range of bullion options, including bars and coins. Coins come in different sizes, shapes, and designs. Coins are usually easier to carry than bars, and they tend to be less expensive. Bars come with a range of weights and sizes. Some bars can weigh hundreds of grams, while others are only a few ounces. You should consider the purpose of the bar before you decide on which one to get. If you plan on giving it as gifts, you might choose something smaller. However, if it's something you intend to use as a gift, it might be a smaller model. If you wish to add it to a collection and proudly display it, it may be worth spending fewer dollars.
- Precious Metals From Dealers – A third option to buying bullion is from a dealer. Most dealers are experts in one part of the market: gold or silver. Some dealers specialize exclusively in certain types or bullion, like rounds or minted money. Others are more skilled in certain regions. Others are specialists in bulk purchases. You will be able to find competitive prices and simple payment options no matter who dealer you choose.
- Buy Precious Metals Through Retirement Accounts. Although it is not considered an “investment”, investing in retirement accounts can provide exposure to precious metals. To qualify for tax benefits under Section 219 of the IRS Code, you must invest in precious metals through a qualified retirement account. These include IRAs as well 403(b), 401(k), and 403 (b) plans. These accounts offer higher returns because they are created to help you plan for retirement. These accounts also allow you to diversify across multiple metals. But what's the downside? Retirement accounts don't allow everyone to invest. Only employees who have been sponsored by an employer can invest in retirement accounts.
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By: Jamie Redman
Title: Trueusd Struggles to Maintain $1 Peg as GHO Reaches $0.99
Sourced From: news.bitcoin.com/stablecoin-tusd-remains-below-intended-1-peg-as-avaras-gho-surges-to-near-peg-heights/
Published Date: Thu, 25 Jan 2024 18:30:31 +0000
