Will The Market Cap Of BUSD Increase?
Binance USD (BUSD) is a 1:1 USD-backed stable currency launched by Binance (in collaboration with Paxos), which is authorized and controlled by the NYDFS. The BUSD Monthly Audit Report is available on the official website. BUSD, which was launched on September 5, 2019, intends to combine the security of the dollar with distributed ledger technology. It is ERC-20 virtual fiat money that supports BEP-2. People are having wallets to buy BUSD. Stablecoin plays an essential role in transactions, payments, and settlement, as well as Decentralized Finance, because of its price stability (DeFi). Will the market cap of BUSD increase? If you want to know, approach Cryptoknowmics today.
The Economy Of BUSD Is Growing
Find the best wallets to store BUSD. Last year, the BUSD economy expanded at an exponential rate. The stablecoin's market capitalization increased from roughly US$1 billion at the beginning of 2021 to more than US$14.6 billion by the end of 2021. This places it third in terms of market capitalization, after Tether and USDC. This increase is mostly due to increased user adoption as more wallets, services and platforms DEXes, and CEXes offer BUSD.
There are a lot of wallets to store BUSDs. Platforms and services such as Travala, payment portals such as Banxa and Moonpay, payment APIs such as Wyre, and multi-currency money transfers such as Paylot and ivendPay currently accept BUSD.
