The total market supply value of Binance USD (BUSD) stablecoin has surpassed $20 billion.
Analysts note the relative price stability of the centralized stablecoin from Binance.
On the charts, you can see that several times the asset deviated significantly from parity with the dollar:
- against the backdrop of a deep market drop on May 10, 2020, the price of BUSD fell to $0.938, but soon recovered;
- On January 5, 2021, the market value of the stablecoin fell to $0.98, then returned to the target level;
- On February 28, 2021 and July 1, 2022, the price of BUSD reached $1.01.
At the moment, Binance USD is on the 3rd line of the stablecoin rating from CoinGecko, significantly lagging behind Tether (USDT) and USD Coin (USDC) in terms of capitalization.
The cumulative trading volume of BUSD is more than double that of USDC, but three times smaller than USDT.
Earlier, the Binance exchange team reported that will start from September 29, automatically convert USDC, USDP and TUSD stablecoins on user balances into BUSD.
