Instrumententafel Angst & Gier Bergbaubecken Geldbörsen Werben Facebook Twitter Telegram Reddit Youtube
Marktkapitalisierung:
24h Vol:
Kryptowährungen: 15957
Märkte: 90823
Crypto Currency Tracker logo Crypto Currency Tracker logo
ENG
EST
RUS
TUR
DEU
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRO
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VEF
VND
VES
VUV
WST
ZAR
ZMW
ZWL
Marktkapitalisierung
24h Vol
15957
Kryptowährungen
58.51%
Bitcoin Aktie
NewsBTC 2023-06-24 13:26:27

BUSD Market Cap Plunge Of 80% In 2023 Raises Concerns Of Impending Collapse

BUSD Market Cap Plunge Of 80% In 2023 Raises Concerns Of Impending Collapse

The fate of Binance USD (BUSD), the stablecoin introduced by Binance, hangs in the balance as its market capitalization has experienced a significant decline of over 80% in 2023. From November 2022 to June of the current year, BUSD’s market capitalization has plummeted from USD23 billion to USD4 billion. Notably, the capitalization suffered an 18% loss in May alone, as reported by CCData, an analysis company. TrueUSD (TUSD) Gains Traction As BUSD Market Cap Declines As the market capitalization of BUSD continues to decline and reach a critical level, representing less than 5% of the overall stablecoin market capitalization, Binance has begun actively promoting the adoption of TrueUSD (TUSD). While TUSD’s market capitalization still falls slightly below that of BUSD, currently standing at over USD3.1 billion, it has surpassed BUSD in terms of trading volumes. According to data provided by CCData, the trading volumes of TUSD have tripled, indicating a growing interest and usage of the stablecoin. Related Reading: Mask Foundation Moves 2.5 Million Tokens To Exchanges, Huge Dip Incoming? TrueUSD (TUSD), introduced in 2017 by TrustToken, has emerged as the fifth-largest stablecoin in the market, trailing closely behind BUSD. Functioning as an Ethereum-based ERC-20 token, TUSD secures its value with dollar reserves deposited in multiple US-based banking entities. The company behind TUSD ensures a 1:1 convertibility with the US currency, instilling confidence in its stability and reliability among users. As BUSD’s market capitalization experiences a significant decline, the growing popularity and trading volumes of TUSD serve as a testament to the increasing demand for an alternative stablecoin option. Also, Binance’s shift towards promoting TUSD suggests a strategic response to the changing landscape of stablecoin usage and market dynamics. The steep decline in BUSD’s market capitalization can be attributed to its impending discontinuation. In February 2023, NewsBTC reported that Paxos would cease issuing the BUSD stablecoin due to an ongoing lawsuit filed by the United States Securities and Exchange Commission (SEC). As per Paxos’ official statement, BUSD will be redeemable until February 24, 2024, marking the potential date for its exit from the market. Investors Move To USDT As It Nears Its All-Time High Capitalization As the market capitalization of Tether (USDT) continues to rise steadily, approaching its all-time high, investors are taking notice and making strategic moves. According to data from CoinMarketCap, USDT’s current market capitalization stands at $82.9 billion (USD), close to its previous peak of $83.2 billion, reached in May 2022. This upward trajectory has prompted investors to diversify their portfolios and explore alternative stablecoin options. Related Reading: Bitcoin Just Gained Over 18% In Seven Days: What’s Happened When This Has Occurred In The Past? Also, Investors are drawn to USDT due to its stability and pegging to the US dollar, offering a reliable store of value amidst market fluctuations. With its widespread acceptance and liquidity, USDT has become a preferred choice for traders, providing a convenient and secure means of preserving their capital during volatile market conditions. At press time, USDT was trading at $0.9780 per coin with a 24-hour price increase of 1.38%. Featured image from iStock, charts from Tradingview and CCData

Meist gelesene Nachrichten

Marktkapitalisierung
24h Vol
58.51%
Bitcoin Aktie
18
Heute Nachrichten
Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen