The current circulating supply of Binance USD is 2.59 Billions tokens, and the maximum supply of BUSD is unlimited. Binance USDs All Time High (ATH) of 1.09 was reached on, and is currently -7.9 down. In April 2021, Binance Exchange announced that nearly more than 400 dApps support BUSD. Binance USDs current price is 1.00, it has increased +0.01 over the past 24 hours.The next month, BUSD holders got interest-bearing accounts that incentivize them based on the size of their holdings. The lending and borrowing services using BUSD started on the Binance platform in March 2021.Thus, it became possible for users to earn stake rewards with BUSD. In December 2020, BUSD became the base currency for Binance’s staking program.In November 2020, Binance started BUSD-settled perpetual contracts to help users trade with leverage.On March 11, 2020, the price of Binance USD touched both its all-time high and all-time low within just 24 hours, according to crypto data sites.During the crypto market’s flash crash in March 2020, the value of the BUSD deviated sharply from the $1 mark.In April 2020, BUSD became a collateral option for digital assets on the Binance exchange.Around the same time, the project announced a 3% cashback in Binance Coin. By the end of 2019, BUSD had joined the list of trading pairs available on Binance.The next month, Binance added BUSD as a deposit and withdrawal option on its exchange platform. Binance USD came into existence in September 2019.Here’s all that has happened in the Binance USD coin’s lifecycle: Ever since 2021, this project has expanded beyond expectations and turned into an ecosystem. This makes BUSD a preferred coin for several decentralized finance activities. This mechanism separates BUSD from other stablecoins in the crypto industry that have a regular minting schedule.Įvidently, the BUSD’s total market capitalization becomes a clear indication of its demand. To maintain the 1:1 ratio of BUSD and US dollars held in reserves, this stablecoin utilizes a deflationary mechanism. When someone withdraws BUSD, it leads to the burning of tokens. This means that for every BUSD that Paxos creates, it holds the same amount in its reserve.
The crypto infrastructure company Paxos issues BUSD, and to support its value, it also holds an equal amount of US dollars relative to its total supply. Today, with more than 3 million active holders and 18 billion coins in circulation, BUSD is accepted as payment by a variety of businesses and individuals globally.The BUSD has a distinct tokenomics based on its partnership with Paxos. Because of this, BUSD is considered one of the safest among the top stablecoin in existence.īUSD is used as a means of payment that can be sent internationally and verified on the public blockchain ledger within seconds. This very strict accounting and reconciliation process necessitates a monthly audit in order to verify the safety of investors’ funds, as well as other security measures put in place by the New York Department of Financial Services (NYDFS) and other regulatory agencies.Īdditionally, BUSD is one of the only existing fiat-backed stablecoins with records that verify the security of its physical reserves. The partnership entails Paxos holding the equivalent of fiat USD in reserve for every BUSD stablecoin in circulation. Compare the daily prices of Binance USD (BUSD) in USD and their. Within the week, the price of BUSD in USD had the largest 24-hour price movement on Friday (3 days ago) by 0.00117777 ( 0.1 ). Binance USD (BUSD) is a stablecoin , so its value is pegged to a fiat currency - in this case, the US dollar.īUSD was launched in September 2019 as part of a joint partnership between Binance and blockchain and finance company Paxos, headquartered in New York. The daily exchange rate of Binance USD (BUSD) to USD fluctuated between a high of 1.001 on Friday and a low of 0.999588 on Tuesday in the last 7 days.
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