TrueFi (TRU) Price Skyrockets Over 350% in a Day

TrueFi (TRU) Price Skyrockets Over 350% in a Day
  • TrueFi price increased over 350% in a day.
  • TrueFi is a protocol for developing interest-bearing pools with a high APR.
  • TRU Listed on CoinEx

TrueFi (TRU) price skyrockets over 350% in a day. However, TrueFi is a protocol for developing interest-bearing pools with a high APR for liquidity providers. More so, TrueFi adds a utility and rewards methodology utilizing TRU and rewards participants in maintaining stable and high APRs. 

According to CoinMarketCap, the TrueFi price is at $0.77 with a 24-hour trading volume of $996,567,781, at the time of writing.

TrueFi (TRU) Price Chart (Source: CoinMarketCap)

Reason for TRU Price Surge

The price surge came after a 12.5 million fund raised by Trust token which is an operator of DeFi lending protocol TrueFi and TUSD stablecoin. Apart from this, the price surge was also due to the listing of TRU on CoinEx. 

  • TrustToken Raises $12.5M Fundraise

TrustToken has raised $12.5 million in funding to scale TrueFi. Moreover, TrustToken is a decentralized finance (DeFi) lending protocol of TrueFi and a stablecoin TUSD operator.

Notably, the funding round was led by Blocktower Capital, Andreessen Horowitz (a16z) and Alameda Research by purchasing TRU. TrustToken mentioned that it would utilize the proceeds to expand its team and TrueFi’s operations 

  • TrueFi (TRU) Listed on CoinEx

The price surge of TRU came after the token listing by CoinEx announcement on Twitter. 

TrueFi is now available for deposit/trading/withdrawal on CoinEx exchange. Users can start trading on August 05, 2021, with these available trading pairs TRU/USDT. In addition, TRU will also be listed on other top crypto exchanges soon.

Furthermore, TRU prices have shown a great surge in the past 24-hours. However, with the upcoming developments, and upgrades TRU will reach new heights soon. The price of TRU will also hit $1 soon. 

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.