- BUSD has shed greater than 50% of its market cap since maxing out at its all-time excessive of $23.4 billion.
- BUSDâs market cap is in freefall, and there’s presently no approach for it to show round.
- Regardless of regulatory strain on Stablecoins within the U.S., different Greenback-pegged tokens are gaining market cap share.
Following the SECâs issuance of a Wells discover to BUSD issuer Paxos, and subsequent demand to stop minting the stablecoin, BUSDâs market cap has been in freefall.
BUSD reached a peak market cap of $23.3 billion on November 16, 2022, following a constant upward trajectory after its launch in September 2019. Nevertheless, its market cap has dropped to $9.6 billion at publishing as tokens proceed to be burned in gentle of the SECâs ruling.
The favored stablecoin…
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