Binance stablecoin capitalization exceeded $ 100 million, up 400% in a month
IN present time BUSD is an the sixth largest stablecoin on the market by capitalization indicator. Per last month value increased by 400% – from $ 22 million up to $ 115 million. It corresponds to the volume of dollar reserves deposited in the issuer’s accounts.
Binance CEO Changpeng Zhao is confident that this trend will be persist due to the increased demand for such tools. “We look forward to increasing the practical value of stable digital assets and are doing our part with BUSD, a NYDFS-approved stablecoin based on dollar USA“, – stated is he.
Lion’s share trades with BUSD happens on Binance itself. About 40% of they are paired with unconditional the leader Tether stablecoin space, yet 35% – with bitcoin. When this USDT paired with bitcoin on Binance in the last 24 hours attracted volumes trades above $ 600 million, then like BUSD in that the same couple – only $ 16 million.
“Outstanding growth of BUSD reflects greedy interest market to an alternative, ”said Paxos co-founder Rich Teo. – We’re glad this achievement and proud to partner with Binance in securing optimal solutions for users in all over the world “.