Heading: Binance USD (BUSD) Trading Update and Overview – July 14th, 2021
The cryptocurrency market continues to see fluctuations, with Binance USD (BUSD) trading 0% higher against the US dollar in the last 24 hours. With a market capitalization of $69.57 million, BUSD has been holding steady at around $1.00 per token.
In comparison, other cryptocurrencies such as KILT Protocol, Aidi Finance, and Zoo Token have seen varying levels of movement in the last day. KILT Protocol traded 0.6% higher, while Aidi Finance and Zoo Token both experienced declines.
Binance USD, launched in September 2019, is a stablecoin backed by U.S. dollar reserves and regulated by the New York State Department of Financial Services. It is issued on the Ethereum blockchain as an ERC-20 token and on the BNB Chain as a BEP-20 token.
Investors looking to acquire Binance USD can do so by first purchasing Ethereum or Bitcoin and then exchanging it for BUSD on select exchanges. As the cryptocurrency market continues to evolve, stablecoins like Binance USD provide a reliable option for traders looking to hedge against volatility.
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