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

Binance USD (BUSD) traded down 0% against the US dollar during the 24 hour period ending at 0:00 AM E.T. on October 16th. One Binance USD token can now be bought for $1.00 or 0.00001481 BTC on popular cryptocurrency exchanges. Over the last week, Binance USD has traded down 0% against the US dollar. Binance USD has a market cap of $69.55 million and $6.66 million worth of Binance USD was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• 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 2.2% lower 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 down 0% against the dollar and now trades at $0.0494 or 0.00000073 BTC.
• P2P Solutions foundation (P2PS) traded 1% higher against the dollar and now trades at $170.92 or 0.00253034 BTC.

About Binance USD

Binance USD’s genesis 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 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 GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Binance USD using one of the aforementioned exchanges.

BUSD/USD price chart by TradingView