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BUSD’s market cap falls to this level for the first time in 2 years
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Binance USD [BUSD] is the world’s third largest stablecoin by market capitalization. However, that market cap has shrunk considerably over the past few weeks.
BUSD began the year with a market capitalization of $16.5 billion. Until press time, the figure had dropped more than 40% to $9.6 billion, the lowest it’s been in two years.
While BUSD is not owned or issued by Binance, the crypto exchange’s performance and controversies have a considerable effect on the stablecoin.
The increasing scrutiny of Binance’s finances and operations, paired with the regulatory crackdown on BUSD issuer Paxos Trust Company, has made things difficult for the stablecoin.
Read more on ambcrypto.comAbout this in other media
Tether Market Cap Rises by 10% Following Stablecoin Meltdown – Can it Maintain the Lead? cryptonews.com /2 months ago
Crypto Price Today Live: Bitcoin above $22k; crypto market cap crosses $1 trillion economictimes.indiatimes.com /2 months ago
Bitcoin market cap flips tech giant Meta, widens gap on Visa cointelegraph.com /2 months ago
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