Binance USD Achieves Market Cap of $69.59 Million (BUSD)

Binance USD (BUSD) traded 0.1% lower against the U.S. dollar during the 24 hour period ending at 22:00 PM Eastern on July 15th. Over the last week, Binance USD has traded 0.1% higher against the U.S. dollar. Binance USD has a total market capitalization of $69.59 million and $8.68 million worth of Binance USD was traded on exchanges in the last day. One Binance USD token can currently be purchased for approximately $1.00 or 0.00001548 BTC on major exchanges.

Here’s how related cryptocurrencies have performed over the last day:

• KILT Protocol (KILT) traded up 5.3% against the dollar and now trades at $0.20 or 0.00000307 BTC.
• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower 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 up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded 1.2% higher 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 down 0.8% against the dollar and now trades at $0.0130 or 0.00000020 BTC.
• AXIA Coin (AXC) traded down 0.1% against the dollar and now trades at $13.43 or 0.00048094 BTC.

Binance USD Token Profile

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.”

Binance USD Token Trading

It is usually not possible to buy alternative cryptocurrencies such as Binance USD directly using US dollars. Investors seeking to trade Binance USD should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Gemini, Coinbase or GDAX. 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