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BUSD Dominates as the Preferred Reserve Certificate on Blockchain

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According to the report, according to the data of Dune Analytics, at present, the largest proportion of the reserve certificates on the blockchain of Coin and …

BUSD Dominates as the Preferred Reserve Certificate on Blockchain

According to the report, according to the data of Dune Analytics, at present, the largest proportion of the reserve certificates on the blockchain of Coin and Ethereum is BUSD, with a value of about $12714180193, followed by ETH, with a value of about $6731684203. In addition, according to the data of Coinsecko, the market value of BUSD at the time of writing is about 15805842427 US dollars, which means that the current BUSD reserves on the Ethereum chain have accounted for 80.4% of the total market value of BUSD.

Data: At present, the BUSD reserves on the Ethereum chain account for more than 80% of the total market value of BUSD

Interpretation of the news:


The report indicates that BUSD holds the highest proportion of reserve certificates on the blockchain of Coin and Ethereum with a value of approximately $12714180193. This suggests that BUSD is the preferred option for reserve certificates on the blockchain. This is followed by ETH, which has a value of around $6731684203.

Coinsecko data shows that BUSD has a market value of about 15805842427 US dollars at the time of writing. This means that BUSD reserves on the Ethereum chain account for 80.4 percent of the overall market value of BUSD.

Reserve certificates serve as collateral to support stablecoins that are tied to a fiat currency, a commodity or a centralized cryptocurrency. BUSD is known for being stable, reliable and transparent, making it a choice for traders and financial institutions seeking stability in the highly volatile cryptocurrency market. Additionally, BUSD is issued by the blockchain firm Paxos, which is reportedly regulated by the New York State Department of Financial Services.

The dominance of BUSD in reserve certificates on blockchain indicates its growth in popularity and adoption. It also means that BUSD is more widely used as a stablecoin in decentralized finance (DeFi) protocols, such as lending and borrowing protocols, than other stablecoins. The high level of BUSD reserves on the Ethereum chain leads to its liquidity and stability.

ETH, on the other hand, is a decentralized cryptocurrency that acts as a medium for executing smart contracts on the Ethereum platform. ETH has the second-highest proportion of reserve certificates, suggesting that it may also be widely used as collateral in DeFi protocols.

In conclusion, BUSD has become the preferred choice for reserve certificates on the blockchain due to its transparency, stability, and reliability. Its high proportion of reserves on the Ethereum chain suggests its adoption in DeFi protocols and its growth in popularity. Meanwhile, ETH remains significant in the blockchain ecosystem owing to its functionality in executing smart contracts.

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