Binance USD Stablecoin Sees Decline, Falls Below Dai in Market Value

Binance, the world’s largest cryptocurrency exchange by volume, sees its stablecoin, Binance USD (BUSD), continue a precipitous decline. BUSD fell below its competitor stablecoin Dai (DAI) following a $95 million wipe-off from its market value. Despite Losing $95 Million, BUSD Stayed as 3rd Largest Stablecoin for Over 3 Months After $95 million was erased from BUSD’s market value, the stablecoin fell beneath its competitor DAI in both the largest cryptocurrencies and stablecoin lists. Currently, while DAI’s market value is $4.59 billion, BUSD’s market value is $4.34 billion. Research analyst Rebecca Stevens at The Block Research underlined that this decline in BUSD was inevitable after its issuer Paxos ceased issuing the stablecoin in February. However, she pointed out that it managed to remain the third largest stablecoin for more than three months since then. In the largest stablecoin list by market value, Tether’s USDT ($83.49 billion) sits at the first place, […] The post Binance USD Stablecoin Sees Decline, Falls Below Dai in Market Value appeared first on COINTURK NEWS.