Analyst: BUSD was once the third largest stablecoin, and its current market value on Ethereum is only about $50 million

03-23

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According to ChainCatcher, Tom Wan, Data Director of Entropy Advisors, posted on X platform that BUSD was once the third-largest stablecoin with a market value of $23 billion, and currently has a market value of only around $50 million on the Ethereum chain.

BUSD is a US dollar-backed stablecoin issued by Paxos Trust Company and approved by the New York State Department of Financial Services (NYDFS). Today, CZ stated: "BUSD is an excellent US dollar stablecoin, but it was killed in the US Operation Chokepoint 2.0. However, looking at the positive side, many new stablecoins are now being launched on BSC."

BUSD

0.02%

ETH

1.95%

Sector:

Linea Ecosystem

Stablecoin

Smart Contracts

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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