Binance USD (BUSD) Achieves Market Capitalization of $69.53 Million

Binance USD (BUSD) traded down 0% against the dollar during the 24-hour period ending at 0:00 AM ET on October 10th. One Binance USD token can now be bought for approximately $1.00 or 0.00001651 BTC on major exchanges. Over the last week, Binance USD has traded 0% higher against the dollar. Binance USD has a market capitalization of $69.53 million and $7.02 million worth of Binance USD was traded on exchanges in the last day.

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

• 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 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.
• 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 down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 8.9% higher 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 up 0.9% against the dollar and now trades at $0.0512 or 0.00000085 BTC.
• P2P Solutions foundation (P2PS) traded up 0.9% against the dollar and now trades at $156.01 or 0.00257441 BTC.

Binance USD Profile

Binance USD was first traded on September 10th, 2019. Binance USD’s total supply is 69,511,448 tokens. Binance USD’s official Twitter account is @binance and its Facebook page is accessible here. The official message board for Binance USD is coinmarketcap.com/community/profile/busd. The official website for Binance USD 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 presently possible to buy alternative cryptocurrencies such as Binance USD directly using US dollars. Investors seeking to trade Binance USD should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Binance USD using one of the aforementioned exchanges.

BUSD/USD price chart by TradingView