Analyst: BUSD was once the third largest stablecoin, and its current market value on Ethereum is only about $50 million
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Planet News: Entropy Advisors' Data Director Tom Wan posted on X platform that BUSD was once the third-largest stablecoin by market value, reaching $23 billion, and currently has a market value of only around $50 million on the Ethereum chain. BUSD is a US dollar stablecoin issued by Paxos Trust Company and approved by the New York State Department of Financial Services (NYDFS). Today, CZ wrote: "BUSD is an excellent US dollar stablecoin, but it was killed in the US Operation Chokepoint 2.0, but on the positive side, many new stablecoins are now being launched on BSC."
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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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