| Current Rating | 28 |
|---|---|
| Symbol | BUSD |
| Logo |  |
| Price change, 1h | 0.02% |
| Price change, 24h | 0.01% |
| Price change, 7d | -0.02% |
| BUSD current price | $1.00 |
| BUSD Market cap | $2 245 570 932 |
| Available supply | 2 245 470 670 BUSD |
| Volume, 24h | $566 010 645 |
Binance USD (BUSD) is placed right after Paxos Standard (PAX) because this popular stablecoin has been developed in collaboration with Paxos Trust Company, thus making BUSD a joint venture that shares similar traits. It is obvious that being one of the largest cryptocurrency exchange platforms, Binance needs its own stablecoin that would facilitate the ecosystem development. Apparently, Binance’s chief executives didn’t want to jump numerous bureaucratic ropes to get the necessary approval by the authorities and opted to go under Paxo’s wing, which was probably the right decision, given the general hostility of US authorities towards cryptocurrencies, especially those provided by foreign companies.
The partnership with Paxos allowed Binance to receive the approval from the New York State Department of Financial Services, which means a great deal for its constantly expanding customer base in the United States. In addition, Binance was allowed to store the vast amounts of USD used for the collateralization of BUSD in FDIC-insured banks, thus making it one of the safest stablecoins around. Paxos Trust Company also acts as a custodian of all BUSD coins. Binance also claims that the availability of the funds to back BUSD at 1:1 ratio is being regularly checked and verified by an independent auditing firm.
Naturally, Binance is the trading platform that hosts the overwhelming majority of all currency pairs, with BTC/BUSD being the largest market that takes up 33% of the entire trading volume. But unlike PAX, Binance’s stablecoin is included in a vast number of trading pairs, being placed against many interesting altcoins as well as fiat currencies. But thanks to the popularity of Binance, there is a much higher demand for this stablecoin compared to that of PAX, which explains its respectable market capitalization of $1,5 billion and the constantly growing number of large transactions in BUSD (over $100K per transaction), the total weekly volume of which often surpasses $5 million.
Binance USD is also characterized by high average daily trading volume that can fluctuate from $1.5 billion to $5 billion during times of increased market activity. All these factors allowed BUSD to be placed at the 30th spot in global rankings, making it one of the highest-ranked stablecoins on the market. Lastly, you can create and redeem BUSD on a no-fee basis.
* Forex Rating accepts no liability for any errors in the Binance USD Price or BUSD Information. For the most recent information please visit the Binance USD official site.
| # | Cryptocurrency | 7 days | |
| 1 |  |
Bitcoin | 3.15% |
|---|---|---|---|
| 2 |  |
Ethereum | 1.08% |
| 3 |  |
Tether USDt | 0.07% |
| 4 |  |
BNB | -1.4% |
| 5 |  |
XRP | 5.34% |
| 6 |  |
USDC | 0% |
| 7 |  |
Lido stETH | -3.32% |
| 8 |  |
Solana | 21.39% |
| 9 |  |
Cardano | 3.54% |
| 10 |  |
Wrapped TRON | 3.69% |
| 11 |  |
Dogecoin | -0.36% |
| 12 |  |
TRON | 3.61% |
| 13 |  |
Toncoin | -10.01% |
| 14 |  |
Polygon | 13.41% |
| 15 |  |
Dai | -0.05% |
| 16 |  |
Polkadot | -0.62% |
| 17 |  |
Litecoin | -1.37% |
| 18 |  |
Bitcoin Cash | 0.38% |
| 19 |  |
Wrapped Bitcoin | 3.05% |
| 20 |  |
Shiba Inu | -1.07% |
| # | Broker | Cryptos | |
| 1 |  |
HFM | |
|---|---|---|---|
| 2 |  |
OctaFX | |
| 3 |  |
FXCC | |
| 4 |  |
FxPro | |
| 5 |  |
MultiBank Group | |
| 6 |  |
Vantage | |
| 7 |  |
Efixxen | |
| 8 |  |
Exness | |
| 9 |  |
Just2Trade | |
| 10 |  |
Dukascopy | |
| 11 |  |
easyMarkets | |
| 12 |  |
eToro | |
| 13 |  |
Forex4you | |
| 14 |  |
FOREX.com | |
| 15 |  |
Kiexo |
The crypto market capitalisation has risen over 2.7% in the last 24 hours to over $1.11 trillion, a level not seen since mid-August. Bitcoin managed to hold above its 50-day moving average...
2 Oct 2023
The crypto market has been torn, rising over 2% in the last 24 hours to $1.076 trillion. The excitement came after the approval of the Ethereum Futures ETF from Valkyrie, which will be available for trading from Friday...
29 Sep 2023
Crypto market capitalisation rose 0.7% in 24 hours to 1.053 trillion. This is a return to the levels seen at the end of last week. Cryptocurrencies saw increased buying...
28 Sep 2023
Despite the storm in the equity markets, the crypto market remains subdued, losing only 0.3% in 24 hours to $1.045 trillion. The Crypto Market Fear and Greed Index is dipping into...
27 Sep 2023
The positive correlation between cryptocurrencies and the stock market is temporarily back on track. The crypto market capitalisation approached 1.05 trillion...
26 Sep 2023
Crypto market capitalisation fell to $1.04 trillion from $1.06 at the start of last week. The Crypto's Fear and Greed Index briefly dipped into Fear territory at the end of the week but returned to Neutral (47) on Monday...
25 Sep 2023
© 2006-2023 Forex-Ratings.com
The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.
