Binance USD (BUSD) Hits Market Capitalization of $69.55 Million

Binance USD (BUSD) traded 0.1% higher against the dollar during the 1-day period ending at 17:00 PM Eastern on September 2nd. One Binance USD token can now be bought for about $1.00 or 0.00001707 BTC on major cryptocurrency exchanges. Binance USD has a total market capitalization of $69.55 million and approximately $5.80 million worth of Binance USD was traded on exchanges in the last day. Over the last week, Binance USD has traded 0% lower against the dollar.

Here is how related cryptocurrencies have performed over the last day:

• Taiko (TAIKO) traded 5.5% lower against the dollar and now trades at $1.48 or 0.00002534 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 down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 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 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.
• MVP Coin (MVP) traded 4.3% lower against the dollar and now trades at $0.0535 or 0.00000091 BTC.

Binance USD Token Profile

Binance USD launched on 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 buy alternative cryptocurrencies such as Binance USD directly using US dollars. Investors seeking to acquire Binance USD should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Binance USD using one of the aforementioned exchanges.

BUSD/USD price chart by TradingView