BUSD’s Market Value Falls Below $14 Billion and Drops to 8th in Cryptocurrency
It is reported that according to the latest data of coingecko, the market value of BUSD has fallen below US $14 billion, from US $13.721 billion at the time of…
It is reported that according to the latest data of coingecko, the market value of BUSD has fallen below US $14 billion, from US $13.721 billion at the time of writing, and has fallen by more than US $2.5 billion in the past seven days. At present, it has been surpassed by Cardano and dropped to the eighth place in the market value of cryptocurrency.
The market value of BUSD has fallen below $14 billion, which has been surpassed by Cardano
Interpretation of the news:
The latest report from coingecko shows an alarming sign for BUSD, as its market value falls below $14 billion, and its position in the cryptocurrency market falls down to eighth place, having been surpassed by Cardano. It is estimated that the market value of BUSD has dropped by over $2.5 billion in the past seven days, which indicates a significant loss in investor confidence in the currency.
BUSD, or Binance USD, is a stablecoin created by Binance, a global cryptocurrency exchange. It is pegged to the US dollar (USD) and is used as a means of trading and exchanging cryptocurrencies. Stablecoins are considered to be less volatile than other cryptocurrencies, as their value is directly linked to a fiat currency, such as the US dollar or euro.
The fall in market value of BUSD can be attributed to several factors. Firstly, the ongoing global pandemic has led to a decrease in economic activity, causing a drop in trading volumes and investor confidence. Additionally, the recent crackdown on cryptocurrency mining and trading in China has had a negative impact on the industry as a whole, leading to uncertainty and volatility.
Moreover, the rising popularity of Cardano has also contributed to BUSD’s decline. Cardano is a blockchain platform that uses its cryptocurrency, ADA, to power its network. It has gained a lot of attention in recent months due to its unique features such as proof-of-stake (PoS) consensus mechanism, which allows users to participate in the network’s governance and decision-making process.
In conclusion, the fall in market value of BUSD below $14 billion and its drop to the eighth place in cryptocurrency market highlights the volatile nature of the industry. Investors should take note of the risks involved in trading cryptocurrencies and carefully evaluate their strategies before investing. Furthermore, the rise of new players like Cardano should be closely monitored, as they have the potential to disrupt the existing market and have long-term implications.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/1171/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Cboe Digital and DMIST: Advancing Standards for Cryptocurrency Exchange and Clearinghouse Operations
On February 28, the regulated cryptocurrency exchange and the clearinghouse Cboe Digital announced that they would join the Derivatives Market Standards Associ…
-
#Contents
On April 25th, it was reported that South Korean prosecutors have transferred Daniel Shin, co-founder of Terraform Labs and former CEO of Chai Corporation, and other individuals in
-
New York Community Bancorp Takes Over Signature Bank
According to reports from Forbes, New York Community Bancorp has taken over Signature Bank and will assume most of its deposits. Flagstar Bank, a subsidiary of New York Community Bank, will operate 40 branches of Signature Bank and most of its deposit businesses, while the Federal Deposit Insurance Corporation (FDIC) will handle $4 billion in digital bank deposits that are not included in the sale. Forbes: New York Community Bank has taken over Signature Bank Analysis based on this information:The news of New York Community Bancorp taking over Signature Bank has come as a surprise to many in the banking world. As per reports from Forbes, New York Community Bancorp has acquired most of the deposits of Signature Bank, while Flagstar Bank (a subsidiary of New York Community Bank) will operate 40 branches of Signature Bank along with most of its deposit businesses. The acquisition is a significant development in the banking industry, and it highlights the growing consolidation trend….
-
Ethereum’s Net Withdrawal of 25,000 ETHs: An Analysis
According to reports, Token. Unlock data shows that Ethereum has made a net withdrawal of approximately 25000 ETHs since completing its Shanghai upgrade. In addition, according to
-
The Rise of Phishing Scams in the Digital World: Understanding the Recent Incident on Tornado Cash
According to reports, according to CertiK monitoring, a black address labeled \”Fake_Phishing76558\” by Etherscan transferred funds to the EOA account address 0xA1807F, which in turn
-
Important updates on the evening of April 3rd
12: 00-21:00 Keywords: Bakkt, Komainu, Uniswap, B-station
Important updates on the evening of April 3rd
I. Introduction- Brief overview of Bakkt, Komainu, Uniswap, and B-station- I -
Foreign media: El Salvador National Crypto Wallet Chivo is currently marking and freezing Wasabi related transactions
On April 8th, multiple sources stated that the Bitcoin wallet Chivo issued by the Salvadoran government has been freezing the wallet and requesting the owner to verify the source o
-
What does it mean if there is no pos in ETH coin (ETH0 is gone)
what does it mean to have no pos for ethcoin? Ethereum’s bifurcation project ethcoin uses the POW mechanism (Proof of Stack) to verify blocks. From this perspective, both Pow and PoS are new upgrade modes implemented on the basis of consensus algorithms: transferring mining rewards from one account to another. POS can be understood as ETH holders entrusting tokens to others Therefore, in PoW, equity is pledged and a certain amount of computing power must be pledged in order to conduct online transactions; The equity in PoS is determined based on user contributions, which means that if you want to obtain more tokens, you can set the shareholding ratio as the initial number of votes eth0 is goneEditor’s note: This article is from BlockBeats (ID: BlockBeats), author: 0x29, reprinted with authorization by Daily Planet Preface: The code for eth0 was opened source in September 2019, but it did not start operating until October and has not been fully implemented. ….
-
Trust Wallet Detects WASM Vulnerabilities: What Does It Mean?
On April 22nd, it was reported that Trust Wallet, a cryptocurrency wallet, released the \”WASM vulnerabilities, event updates, and recommended measures\” announcement, which stated t
-
#OP Labs Unveils op-erigon: A New Alternative Execution Client for Ethereum Smart Contracts
On April 21st, OP Labs announced that TestinProd has developed an alternative execution client, op-erigon, using modularity and open source OP Stack. It can now be tested on OP Goe
-
When does Grayscale buy Zen (Grayscale buys DOT)?
When does Grayscale buy Zen? According to the information released by Grayscale
-
Self-Hosting and Multi-Signature – Vitalik Buterin’s Take on Securing Your Assets
On April 17th, Ethereum co founder Vitalik Buterin wrote in March that self hosting is very important, and social recovery and multi-signature are good ways to achieve this goal. A
-
US government seizes large sums of Bitcoin
According to reports, PeckShieldAlert monitoring data showed that 49000 BTCs (valued at US $1 billion) were transferred to Coinbase (more than 9800 BTCs, value…
-
What is the situation with Xiao Ling Coin (Xiao Ling Coin Wallet)?
What is the situation with Xiao Ling Coin? Xiao Ling Coin is a valueless digita
-
Sony and Astar Partner To Launch Web3 Incubation Plan
It is reported that Sony Network Communications, a business unit of Sony Group, and Astar Network jointly launched the Web3 incubation plan.
Sony coope…
-
#NFT Derivatives Trading Platform Tribe3 Secures $2.1M in Financing
On April 26th, the NFT derivatives trading platform Tribe3 completed a $2.1 million financing, with Spartan Capital, Newman Capital, Infinity Ventures Crypto, Modular Capital, Cogi