BUSD Loses 50% of Its Market Cap By DailyCoin

© Reuters Dogecoin Flips Binance USD Stablecoin: BUSD Loses 50% of Its Market Cap
  • reclaims its spot in the TOP 10 by global market cap.
  • The popular open-source memecoin surpassed Binance USD.
  • DOGE slipped by 2.2% despite the unusual achievement.

The world’s leading crypto platform Binance has been in the hot seat this month. Close competitors Circle informed the Securities and Exchange Commission (SEC) about Binance’s mismanagement of the Paxos-issued stablecoin Binance USD (BUSD).

With over $3 billion of BUSD moved away in 6 days, the leading canine coin DOGE made the most out of the fuss and surpassed the market share of the leading CeFi platform’s stablecoin – for the first time. Interestingly, this happened ten days after a Dogecoin Foundation member warned all Dogecoin (DOGE) holders about BUSD and advised them to switch to a DeFi solution.


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