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Binance USD (BUSD) price, chart, coin profile and news

Find the latest Binance USD (BUSD) price, coin profile, news and history to get you started with Binance USD trading and investing.

Binance USD (BUSD) is the 8th largest cryptocurrency in the world by market cap, valued at $16,273,453,268. The current price of Binance USD is $0.999895, which is -0.076% lower than yesterday. Prices have ranged between $1.009 and $0.994789 over the past 24 hours. All prices are listed in US dollars and accurate as of February 04, 2023 06:02 UTC.

Binance Usd price chart

Price over the past month

What is Binance Usd?

Launched in 2018 by the Paxos Trust Company, the Pax Dollar, or USDP, is a US dollar stablecoin. The token was developed to provide a place for users to store funds away from the high volatility of the cryptocurrency markets.

Originally called the Paxos standard, with a ticker symbol - PAX, Paxos decided to rebrand the name of the token to the Pax Dollar (USDP) in 2021.

According to Paxos’ website, each USDP can be redeemed for 1 US dollar at any time. The aim of the project is to hold the ratio between USDP and USD as close to 1:1 as possible. This is achieved through Paxos’ physical reserves. It is the responsibility of the Paxos Trust Company to ensure that all circulating USDP tokens are backed by physical US dollars. As new USDP is minted, more reserves are added to Paxos’ reserves. As USDP is removed from circulation, reserves are removed from Paxos’s reserves. Thanks to being pegged to a fiat currency, the Pax Dollar can facilitate everyday monetary transactions while offering minimal price swings or other volatility induced risks. The token was developed using the Ethereum blockchain and was, therefore, created using the ERC-20 token standard. All transactions completed with USDP require a small gas fee payment made in ETH.

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Binance Usd recent updates

Mar
'22
Volume for BUSD jumped 16% in the first day of March, with the token now accounting for 20% of the stablecoin market share. Much of this spike is due to Ukranian and Russian investors rushing out of fiat currency attempting to avoid the economic impact of the Russia-Ukraine war.

Binance Usd at a glance

Basic stats for Binance Usd

#8
$16 B
16 B
16 B
Stablecoins
Stablecoin
Ethereum
Binance smart chain

Binance Usd performance over time

Binance Usd fundamental and technical analysis

Time frame
Movement
1 day
0.08%
1 week
0.04%
1 month
0.00%
2 months
0.05%
200 days
0.43%
1 year
0.34%
Show all

Social activity for Binance Usd

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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