Binance USD (BUSD) Reaches Market Capitalization of $69.47 Million

Binance USD (BUSD) traded 0% lower against the US dollar during the 1-day period ending at 22:00 PM Eastern on July 2nd. Binance USD has a market capitalization of $69.47 million and $6.20 million worth of Binance USD was traded on exchanges in the last 24 hours. One Binance USD token can currently be purchased for about $1.00 or 0.00001627 BTC on popular cryptocurrency exchanges. During the last seven days, Binance USD has traded down 0.1% against the US dollar.

Here’s how similar cryptocurrencies have performed during the last 24 hours:

• KILT Protocol (KILT) traded 0.6% lower against the dollar and now trades at $0.21 or 0.00000338 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded up 1.2% against the dollar and now trades at $0.0120 or 0.00000019 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

About Binance USD

Binance USD’s genesis date was September 10th, 2019. Binance USD’s total supply is 69,511,448 tokens. The official message board for Binance USD is coinmarketcap.com/community/profile/busd. Binance USD’s official Twitter account is @binance and its Facebook page is accessible here. Binance USD’s official website is www.binance.com/en/busd.

According to CryptoCompare, “BUSD is a stablecoin issued by Paxos and supported by Binance. It is backed by U.S. dollar reserves held in insured U.S. banks, Treasury bills, and money market funds, and is regulated by the New York State Department of Financial Services. BUSD is issued on the Ethereum blockchain as an ERC-20 token and on the BNB Chain as a BEP-20 token, and can be used for hedging against volatility, stable price-pegging, remittances, crowdfunding, payments, lending, borrowing, and other financial services. Its value remains stable through fiat currency reserves, and traders can use arbitrage to bring it back to its peg if its price moves away from $1.”

Buying and Selling Binance USD

It is usually not currently possible to purchase alternative cryptocurrencies such as Binance USD directly using US dollars. Investors seeking to trade Binance USD should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Binance USD using one of the exchanges listed above.

BUSD/USD price chart by TradingView