Time

Coin

<ul class="news-points"> 
 <li>BUSD’s market capitalization declined by 21% in the past month, according to CoinGecko.</li> 
 <li>In February, Paxos severed ties with Binance and ceased minting BUSD due to regulatory issues.</li> 
 <li>BUSD faces challenges, but its future depends on Binance’s strategy and market dynamics.</li> 
</ul> 
Binance’s BUSD (Binance USD) initially experienced substantial growth and strong support from the exchange during its inception. However, recent data indicates a different trend, with BUSD’s market capitalization declining by 21% in the past month, according to <a href="https://www.coingecko.com/en/categories/stablecoins" target="_blank" rel="noopener noreferrer nofollow">CoinGecko</a>. 
When Binance <a href="https://www.binance.com/en/blog/ecosystem/busd-turns-1-how-it-became-a-leading-stablecoin-and-what-lies-ahead-421499824684900960" target="_blank" rel="noopener noreferrer nofollow">introduced</a> BUSD in 2019, it entered the market with confidence and the backing of the world’s largest crypto exchange. BUSD achieved remarkable success, reaching a market capitalization of $1 billion USD in just 261 days, surpassing other stablecoins. 
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In a short period, Binance listed 97 BUSD trading pairs, eventually exceeding 300, highlighting its popularity in the crypto community. However, circumstances changed over the past year, leading Binance, once a strong advocate for BUSD, to take a different approach. 
In February, Paxos, the stablecoin issuer, <a href="https://coinedition.com/paxos-reiterates-commitment-to-regulation-ends-binance-relationship/" rel="noopener noreferrer nofollow">severed</a> its ties with Binance and ceased minting… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/busd-loses-global-ranking-is-it-time-to-look-for-another-stablecoin/">BUSD Loses Global Ranking — Is It Time to Look for Another Stablecoin?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

BUSD Loses Global Ranking — Is It Time to Look for Another Stablecoin?

Coin Edition

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