BUSD/TRY: Convert Binance USD (BUSD) to Turkish Lira (TRY)
1 Binance USD equals TRY 32.55 Turkish Lira
Binance USD (BUSD) is not tradable on Coinbase.
Data is sourced from CoinMarketCap and other third parties. We make no representation on the accuracy of the data provided. Learn more
Last update: 9:34 AM, June 19, 2024
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Overview
About Binance USD (BUSD)
Binance USD (BUSD) is a stablecoin running on Ethereum. For stablecoins like BUSD, the company behind the protocol is responsible for holding reserves that fully back each token. The companies behind BUSD, Binance and Paxos, claim that each BUSD token is backed by and corresponds to one dollar held in traditional bank accounts. Note: Coinbase only supports BUSD on the Ethereum blockchain (ERC-20).
Resources
How Binance USD (BUSD) and Turkish Lira (TRY) differ
Binance USD (BUSD) and Turkish Lira (TRY) are two distinct forms of currency, each with its unique characteristics. BUSD is a digital fiat currency that aims to merge the stability of the US dollar with the innovative potential of blockchain technology. It's a 1:1 USD-backed stable coin, meaning each BUSD token is equivalent to one US dollar. This stable coin is issued as ERC-20 and supports BEP-2, two popular standards for creating and issuing smart contracts on the Ethereum and Binance Smart Chain platforms respectively. On the other hand, the Turkish Lira is the national currency of Turkey, a traditional fiat currency regulated by the Central Bank of the Republic of Turkey. Unlike BUSD, it doesn't operate on blockchain technology and its value is not pegged to another currency. BUSD is fully backed by reserves held in either fiat cash in dedicated omnibus accounts at insured U.S. banks or U.S. Treasury bills, ensuring its stability. It can be used in a variety of digital economy use cases, including transactions, payments, and settlement, as well as in Decentralized Finance (DeFi). The Turkish Lira, however, is used for all types of transactions within Turkey and can be physically held and spent.
Binance USD Markets
Binance USD is falling this week.
The current price of Binance USD is TRY 32.55 per BUSD. With a circulating supply of 70,511,447.778 BUSD, it means that Binance USD has a total market cap of TRY 2,295,340,235.19. The amount of Binance USD traded has fallen by TRY 86,429,737.67 in the last 24 hours, which is a 21.22% decrease. Additionally, in the last day, TRY 407,398,687.49 worth of BUSD has been traded.
R$2.3B