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Paxos Treasury Destroys Over 117 Million BUSDs

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On February 15, according to Whale Alert data, Paxos Treasury destroyed 117401943 BUSDs at 07:54:47 UTC on February 15. With the continuous destruction, the ma…

Paxos Treasury Destroys Over 117 Million BUSDs

On February 15, according to Whale Alert data, Paxos Treasury destroyed 117401943 BUSDs at 07:54:47 UTC on February 15. With the continuous destruction, the market value of BUSD has shrunk significantly in the past two days. According to the data of Coingecko, the market value of BUSD was about $16.204 billion on February 13, and it is currently about $15.203 billion, a decrease of more than $1 billion.

Paxos Treasury destroyed 117 million BUSDs, and the market value has shrunk by more than US $1 billion in the past two days

Interpretation of the news:


Paxos Treasury, a popular name in the world of cryptocurrency, destroyed over 117 million BUSDs on February 15, according to Whale Alert data. This move has led to a significant decline in the market value of BUSD in the last two days.

BUSD is a stablecoin that is pegged to the US dollar, making it an excellent alternative for those who want the stability of the dollar but the flexibility of a digital currency. With the increasing popularity of BUSD, the market value of this stablecoin has seen an upward trend.

However, the latest move by Paxos Treasury has led to a decline in the market value of BUSD. They have been continuously destroying BUSDs, leading to a decrease of more than $1 billion in the market value of this stablecoin.

The reason behind this move by Paxos Treasury is not clear. Some experts believe that they might be trying to manipulate the market by controlling the supply of BUSD. By reducing the supply of BUSDs in the market, they might be trying to increase its demand, and as a result, its price.

On the other hand, some experts also believe that Paxos Treasury might be burning these BUSDs because they are no longer needed, and it is a way to maintain the peg between BUSD and the US dollar.

Whatever the reason behind this move might be, it is clear that it has affected the market value of BUSD significantly. It remains to be seen whether this trend will continue or if the market value of BUSD will recover in the near future.

In conclusion, Paxos Treasury destroying over 117 million BUSDs has led to a significant decrease in the market value of this stablecoin. The reason behind this move is not clear, but it has raised some concerns among experts. The market value of BUSD might recover in the near future, but it remains to be seen how this trend will continue.

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