It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease of approximately 4.9% in the same time…
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While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year. Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department…
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Binance, a leading cryptocurrency exchange by client count and trading volumes, has integrated Binance-Pegged BUSD on the Ethereum layer-2 platform, the Optimism Network. Binance Integrates The Optimism Network In a press release on February 2, Binance said their users can now begin depositing and withdrawing the wrapped token via the Optimism Network. The Optimism Network is a…
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The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month…
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The Binance USD (BUSD) stablecoin continues to lose ground versus other stablecoins, and has over the past month lost as much as $2bn in market capitalization. At its low on Wednesday this week, BUSD’s market cap touched $15.3bn, down more than $2bn compared to the $17.5bn market cap it had on the same date in…
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On-chain data shows the Binance USD (BUSD) exchange reserves have declined recently, a factor that may be behind Bitcoin’s slowdown. Binance USD (BUSD) Exchange Reserves Have Gone Down As pointed out by an analyst in a CryptoQuant post, there was a very large inflow of $250 million BUSD just a while ago. The “exchange reserve”…
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The crypto exchange said there was a “timing mismatch in backing Binance-Peg BUSD with BUSD” that seemingly showed data in which the stablecoin was not fully backed. Major crypto exchange Binance initially pushed back against a Bloomberg report that its Binance-Peg BUSD stablecoin “doesn’t always appear to have been completely backed by BUSD”. In a…
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According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current level of $16.77 billion. Stablecoin…
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During the last month, the market capitalization of all the stablecoins in existence dropped by more than 2%, shedding roughly $2.98 billion since the end of October. Statistics show that tether, the largest stablecoin by market valuation, saw its market cap lose more than 5% during the last 30 days. Tether’s market cap slipped from…
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The growth of Bitcoin and crypto exchanges over the years reflects the industry’s evolution. Exchanges have been the most critical businesses supporting the blockchain and crypto protocols. In addition, the exchanges, led by the top figures in the industry, house most of the iconic brands in the crypto ecosystem. Since the early days of Bitcoin…
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