Binance USD (BUSD) Achieves Market Capitalization of $69.52 Million

Binance USD (BUSD) traded 0% lower against the US dollar during the twenty-four hour period ending at 21:00 PM Eastern on July 28th. One Binance USD token can currently be bought for about $1.00 or 0.00001461 BTC on exchanges. During the last seven days, Binance USD has traded 1.3% lower against the US dollar. Binance USD has a market capitalization of $69.52 million and $4.15 million worth of Binance USD was traded on exchanges in the last 24 hours.

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

• KILT Protocol (KILT) traded 1% lower against the dollar and now trades at $0.18 or 0.00000268 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 2.2% lower 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.
• Kitty Inu (KITTY) traded 1.9% higher 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 0.4% higher against the dollar and now trades at $0.0135 or 0.00000020 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Binance USD Profile

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

BUSD/USD price chart by TradingView