Binance Stablecoin BUSD Falls Below $10 Billion Market Cap for First Time By DailyCoin
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Binance Stablecoin BUSD Falls Below $10 Billion Market Cap for First Time
- BUSD has shed more than 50% of its market cap since maxing out at its all-time high of $23.4 billion.
- BUSDâs market cap is in freefall, and there is currently no way for it to turn around.
- Despite regulatory pressure on Stablecoins in the U.S., other Dollar-pegged tokens are gaining market cap share.
Following the SECâs issuance of a Wells notice to BUSD issuer Paxos, and subsequent demand to cease minting the stablecoin, BUSDâs market cap has been in freefall.
BUSD reached a peak market cap of $23.3 billion on November 16, 2022, following a consistent upward trajectory after its launch in September 2019. However, its market cap has dropped to $9.6 billion at publishing as tokens continue to be burned in light of the SECâs ruling.
The popular stablecoin…
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Binance Stablecoin BUSD Falls Below $10 Billion Market Cap for First Time
- BUSD has shed more than 50% of its market cap since maxing out at its all-time high of $23.4 billion.
- BUSDâs market cap is in freefall, and there is currently no way for it to turn around.
- Despite regulatory pressure on Stablecoins in the U.S., other Dollar-pegged tokens are gaining market cap share.
Following the SECâs issuance of a Wells notice to BUSD issuer Paxos, and subsequent demand to cease minting the stablecoin, BUSDâs market cap has been in freefall.
BUSD reached a peak market cap of $23.3 billion on November 16, 2022, following a consistent upward trajectory after its launch in September 2019. However, its market cap has dropped to $9.6 billion at publishing as tokens continue to be burned in light of the SECâs ruling.
The popular stablecoin…
Continue Reading on DailyCoin
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