Binance USD (BUSD) Market Capitalization Hits $34.41 Million

Binance USD (BUSD) traded up 0% against the dollar during the 1-day period ending at 9:00 AM E.T. on August 4th. Binance USD has a total market cap of $34.41 million and $331.30 thousand worth of Binance USD was traded on exchanges in the last 24 hours. During the last week, Binance USD has traded 0% higher against the dollar. One Binance USD token can now be purchased for $1.00 or 0.00001565 BTC on popular cryptocurrency exchanges.

Here’s how related cryptocurrencies have performed during 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 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.
• UZDT (UZDT) traded up 0% against the dollar and now trades at $1.00 or 0.00001565 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 up 8.9% against the dollar and now trades at $0.0162 or 0.00000027 BTC.
• SolvBTC (SOLVBTC) traded 1.9% higher against the dollar and now trades at $63,713.34 or 0.99749693 BTC.

Binance USD Profile

Binance USD’s genesis date was September 10th, 2019. Binance USD’s total supply is 34,415,677 tokens. Binance USD’s official website is www.binance.com/en/busd. The official message board for Binance USD is coinmarketcap.com/community/profile/busd. Binance USD’s official Twitter account is @binance and its Facebook page is accessible here.

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 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 Gemini, Coinbase or Changelly. 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