Binance’s BUSD faced a drastic market cap decline, falling below 1 billion in supply.
BUSD fell by 95% from its peak while the BNB network’s activity and revenue took a hit.
Binance [BNB] has had a very troubling 2023, with many trials rocking both the exchange and the network. Even after the new year began, many of these troubles persisted.
A slow decline in interest for BUSD
A notable setback was witnessed in Binance’s stablecoin sector on the 7th of January, exemplified by Binance’s BUSD experiencing a drastic market cap decline.
BUSD’s supply fell below 1 billion during this time frame, plummeting by 95% from its peak of 23.45 billion. At press time, BUSD stood as the sixth-largest stablecoin, trailing behind FDUSD, USDT, USDC and DAI.
Binance’s BUSD Falls below 1B Supply. At its peak, it has 23.45B supply (Dropped 95%)
It is now the 6th largest stablecoin behind FDUSD
For Stablecoins to challenge USDC/USDT, there are 3 main factors imo:
1. CEXs Integration 2. DeFi Integ
We współpracy z: https://ambcrypto.com/binances-problems-pile-on-as-busd-loses-market-cap/
