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Binance USD

BUSD

4.1

Price
$1.00
10/1/2022, 10:42:34 PM
diamondHands

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Market

Market stats

Market cap

$21.0B

Volume (24h)

$4.4B

Circulating supply

21.0B BUSD

Typical hold time

1 day

Popularity

#5

All time high

$1.11

Price change (1h)

0%

Price change (24h)

-0.1%

Price change (7d)

0%

Trading activity

90% Buy0% Buy
10% Sell100% Sell

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Binance USD price is unchanged in the past week.

The price declined by 0.10% in the last 24 hours. The current price is $1.0005 per BUSD. Binance USD is 9.86% below the all time high of $1.11.

The current circulating supply is 21,042,229,623.12 BUSD.

About

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

What Is Binance USD (BUSD)?

Binance USD (BUSD) is a recent USD-denominated stablecoin backed by the New York State Department of Financial Services (NYDFS). The platform is launched in collaboration with Paxos and Binance. The network is supported by resources held in traditional currency in dedicated collection accounts at insured U.S. financial institutions.

As per the whitepaper, the protocol aims at transferring currency globally, quickly, and at a low cost on the blockchain. Also, the Binance USD network aims to establish a world-class cryptocurrency exchange platform channeling the future of crypto finance.

The Binance USD seeks to solve the issues of the present crypto exchanges, and those problems are as follows:

  • Poor technical architecture: Many exchanges are equipped with sound technical architects who have little understanding or no experience in finance or operating an exchange. And the process may affect the initial development but is crucial for long-term success. 

  • Insecure platform: The platform experiences building financial systems to high security standards and seeks to prioritize security.

  • Poor market liquidity: Professional traders and ordinary users are concerned with poor market liquidity that seems expensive for traders.

  • Poor customer service: Binance shares responsibilities across the entire staff and company. When traders face an issue, they are answered directly by someone who knows the system.

  • Poor internationalization and language support: An international multilingual team has comprehensive working experience and can smoothly support the global market.

Further, BUSD is a new USD-denominated ERC20 stablecoin launched in partnership with Paxos and Binance. BUSD token is utilized for trading crypto on Binance, and it is also used wherever ERC20 tokens are welcomed for commerce, loans, payments, etc. 

History of Binance USD (BUSD)

Changpeng Zhao, Roger Wang, and James Hofbauer cofounded the  Binance USD platform. Zhao serves as chief executive officer (CEO), Wang works as chief technology officer (CTO), and Hofbauer serves as chief architect. The platform was launched on September 5, 2019. 

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Social

Binance USD on social media.

Binance USD was mentioned in 1,782 out of 1,810,058 social media posts on Twitter and Reddit on Sep 30, 2022. 5,340 unique individuals are talking about Binance USD and it is ranked #101 in most mentions and activity from collected posts.

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Key indicators

Contributors

5,340 people

Posts

1,782 posts

Dominance

0.1%

Volume rank

#101

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FAQ

What is the current price of Binance USD?

The price of 1 Binance USD currently costs $1.00.

What is the market cap of Binance USD?

The current market cap of Binance USD is $21.05B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Binance USD?

The all-time high of Binance USD is $1.11. This all-time high is highest price paid for Binance USD since it was launched.

What is the 24 hour trading volume of Binance USD?

Over the last 24 hours, the trading volume of Binance USD is $4.44B.

What other assets are similar to Binance USD?

Assets that have a similar market cap to Binance USD include Tether, USD Coin, BNB, and many others. To see a full list, see our comparable market cap assets.

How many Binance USD are there?

The current circulating supply of Binance USD is 21 billion.

What is the typical holding time of Binance USD?

The median time that Coinbase customers hold Binance USD before selling it or sending it to another account or address is 1 days.

What is the relative popularity of Binance USD?

Binance USD ranks 155 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Binance USD?

Currently, 90% of Coinbase users are buying Binance USD. In other words, 90% of Coinbase customers have increased their net position in Binance USD over the past 24 hours through trading.

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