TechFlow News, according to The Block, BUSD's share of the overall stablecoin market supply hit a record high on October 21. Binance announced last month that it would convert rival stablecoins on its platform into BUSD.
Data from The Block’s dashboard shows that BUSD’s market share has expanded to its highest level ever, accounting for 15.48% of the stablecoin market’s total supply of $140 billion as of Friday. BUSD also accounts for 22% of trading volume measured by trading pairs. Meanwhile, the total supply of BUSD is approaching $22 billion, up more than $6 billion since the beginning of the year.
In September, Binance announced that it would convert existing balances and new deposits of stablecoins USDC, USDP, and TUSD into its own stablecoin BUSD. The exchange is the largest in the world in terms of cryptocurrency trading volume. Original link
