Binance’s stablecoin expands its market share to the highest level ever, accounting for 15.48% of total supply in the stablecoin market at $140 billion, with a 22% share of trading volume.
meanwhile BUSD’s total supply is below $22 billion. That has raised more than $6 billion since the start of the year.
In September, Binance said it would convert its existing balance and new stablecoins USDC, USDP and TUSD to its own BUSD Stablecoin.
Total stablecoin supply peaked this past spring, ahead of thecollapseof the TerraUSD Stablecoin Algorithm, which fell overnight from $1 to almost zero. And it was an event that wiped out billions of dollars across the Terra ecosystem, causing the crypto credit crisis. This resulted in bankruptcy of companies such as Three Arrows Capital, Celsius and Voyager.
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