Binance is the world’s largest trader in terms of trading volume However, the stablecoin BUSD has seen a significant drop in the number of coins in circulation over the past three days. Since last month he has depleted his 20% of BUSD supply, but statistics show that a 14.77% cut was made on his 13th December. 17} Amid speculation surrounding Binance and massive withdrawals (over $3 billion) on Dec 13, 2022, supply of stablecoin BUSD fell 14.77% in just 3 days . According to last month’s stats, BUSD had 23 billion tokens in circulation, but it is now down 20% to 18.58 billion BUSD coins.
This news follows his Bitcoin.com News report that Binance-related and Paxos-backed stablecoins rose 22% in his two months on Oct. 22, 2022. It follows.BUSD uses cryptocurrency exchange Binance for his logo and name, and the stablecoin is managed by Paxos.
Crypto firm Paxos also manages Pax Dollars (USDP) and Pax Gold (PAXG). His BUSD increase at the time saw Tether (USDT) and USD Coin (USDC) deplete the coins in circulation. In terms of market cap, BUSD’s market cap is the 6th largest valuation in the crypto market today, making it into the top 10 right after Terra’s UST collapsed.