FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
90%
HFM information and reviews
HFM
89%

Binance USD Price, BUSD/USD Exchange Rates


Current Rating 7
Symbol BUSD
Logo
Price change, 1h 0.17%
Price change, 24h 0.16%
Price change, 7d 0.17%
BUSD current price $1.00
BUSD Market cap $21 077 083 884
Available supply 21 042 229 623 BUSD
Volume, 24h $6 718 679 317
Share

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.

  • Pros: Highly regulated; associated with a dominant exchange platform; lots of trading pairs; easily redeemable.
  • Cons: The average trading volume is still light years away from that of USDT.      

BUSD/USD Price and Exchange Rates Charts

BUSD/USD Price, Exchange Rates chart – 7 days

BUSD/USD Price, Exchange Rates chart – 30 days

BUSD/USD Price, Exchange Rates chart – 60 days

* 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.

Top Cryptocurrencies

# Cryptocurrency 7 days
1 BTC Information Bitcoin 7.84%
2 ETH Information Ethereum 5.45%
3 USDT Information Tether 0.02%
4 BNB Information BNB 9.21%
5 USDC Information USD Coin -0.01%
6 XRP Information XRP 14.28%
7 BUSD Information Binance USD 0.17%
8 ADA Information Cardano 0.54%
9 SOL Information Solana 5.85%
10 STETH Information Lido stETH -3.32%
11 DOGE Information Dogecoin 9.56%
12 MATIC Information Polygon 15.25%
13 DOT Information Polkadot 2.08%
14 DAI Information Dai -0.01%
15 WTRX Information Wrapped TRON 6.09%
16 SHIB Information Shiba Inu 5.61%
17 HEX Information HEX 5.64%
18 TRX Information TRON 5.91%
19 AVAX Information Avalanche 2.23%
20 UNI Information Uniswap 8.2%
Cryptocurrency Rating

Top Bitcoin Brokers

All Bitcoin Forex Brokers

BTC/USD Forecasts

Bitcoin testing the buyers’ interest
Bitcoin testing the buyers’ interest

Bitcoin rose 2.9% in the past 24 hours, surpassing the psychologically significant round level, now trading at $20.2K. Ethereum rose to $1350, adding 2%, which is in line with the entire crypto market valuation growth...

5 Oct 2022

Cryptocurrencies need a driver
Cryptocurrencies need a driver

Bitcoin has gained 2.8% over the past 24 hours to $19750 but remains broadly zen. Against the backdrop of falling equity markets, the first cryptocurrency's balanced moves looked like a sign of domestic strength...

4 Oct 2022

Bitcoin's extremely low volatility
Bitcoin's extremely low volatility

Bitcoin is up 2.5% over the past seven days, trading at $19,300 on Monday morning. Ethereum added 0.2%, to $1300. Other leading altcoins in the top 10 have shown mixed dynamics...

3 Oct 2022

Bitcoin seems to be regaining defensive status
Bitcoin seems to be regaining defensive status

Bitcoin has remained in position for the past few days, trading at $19,500 on Friday morning. As in previous days, the attempt to sell the cryptocurrency following the stock market was met with buying...

30 Sep 2022

The Ethereum Merge is Complete: the Details and the Implication for the Cryptocurrency Market and the Blockchain Industry
The Ethereum Merge is Complete: the Details and the Implication for the Cryptocurrency Market and the Blockchain Industry

Big news from the world of crypto. A successful upgrade of major scale has been carried out on the Ethereum network, which could prove to be a pivotal point for the entire industry. Anyone who’s even remotely familiar...

29 Sep 2022

Bitcoin's 10-day flat
Bitcoin's 10-day flat

Bitcoin is up 3.1% over the past 24 hours, trading around $19,400. After a downward momentum early in the day, the first cryptocurrency received some support thanks to a recovery in risk appetite...

29 Sep 2022

IronFX information and reviews
IronFX
88%
FXCM information and reviews
FXCM
87%
NordFX information and reviews
NordFX
85%
Vantage information and reviews
Vantage
84%
FP Markets information and reviews
FP Markets
81%
RoboForex information and reviews
RoboForex
81%

© 2006-2022 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.