The live price of Binance USD (BUSD) today is 1.0008 USD, and with the current circulating supply of Binance USD at 7,715,434,148.91 BUSD, its market capitalization stands at 7,721,753,922 USD. In the last 24 hours BUSD price has moved 0.052885 USD or 0.06% while 1,370,765,726 USD worth of BUSD has been traded on various exchanges. The current valuation of BUSD puts it at #11 in cryptocurrency rankings based on market capitalization.
Learn more about the Binance USD blockchain network and how it works or follow the price of its native cryptocurrency BUSD and the broader market with our unique COIN360 cryptocurrency heatmap.
Launched in September 2019, Binance USD (BUSD) is a stablecoin pegged to the U.S. Dollar at a 1:1 ratio. BUSD coin is issued jointly by Binance cryptocurrency exchange and Paxos, a widely-recognized blockchain solutions company that also issues its own stablecoin called the Pax dollar or USDP.
BUSD is supported both by the native BNB Chain as well as the Ethereum blockchain. The stablecoin is approved by the New York State Department of Financial Services (NYDFS) and is said to be audited on a monthly basis. The audit is conducted to verify that BUSD issuance is backed by corresponding USD reserves, and the monthly attestation reports can be accessed on both Paxos and Binance websites.
Since BUSD is a dollar-pegged cryptocurrency, it is actively used for online payments as well as crypto trading. Some users also hold stablecoins like BUSD to store value and hedge against inflation in local currencies compared to the U.S. dollar.
According to our BUSD live price chart, BUSD price has always been in the vicinity of $1, ever since its launch in September 2019. Although it deviates by a few cents every now and then, it has never witnessed any sharp falls or rises, barring a couple of occasions.
BUSD coin’s first noteworthy fluctuation came in March 2020 when it rose to an all-time high of $1.11 on March 12, but quickly lost a fair bit of ground and plummeted down to its all-time low of $0.88, within 24 hours, on March 13, as markets around the world crashed due to COVID-19 breaking out. Besides those two instances, BUSD price has been fairly stable all along.
While BUSD was originally issued on the Ethereum blockchain as an ERC-20 token, it can also exist on the BNB Chain in the BEP-2 token format. You can buy it directly on the Paxos platform on a 1:1 basis against USD, at zero fees, and use it anywhere within the crypto ecosystem, for loans, commerce, payments etc.
Paxos is responsible for the issuance of BUSD coins. To buy BUSD directly on Paxos, you must be a verified user and deposit USD funds through wire transfer. Alternatively, BUSD can also be purchased on various other established cryptocurrency exchanges, including Binance.
Whenever a BUSD holder wishes to redeem their BUSD for cash, the coins are burnt by Paxos, and the user is reimbursed with their cash equivalent. There’s no cap on how many BUSD can be issued, and its supply depends entirely on the amount of fiat collateral deposited with Paxos for minting BUSD.
It is claimed that BUSD is 100% backed by US Treasury bills (including money-market funds and/or repurchase agreements) and cash reserves held in insured US banks.
In an important news development for BUSD coin, in August 2020, the New York Department of Financial Services (NYDFS) added Binance USD to its ‘Greenlist’ of approved stablecoins. While BUSD was approved by NYDFS at its launch in September 2019, exchanges required approval before listing it as a crypto asset on their respective platforms. This development meant that licensed financial institutions could now freely use BUSD, without requiring any prior regulatory approval.
More recently, in April 2022, amid the Russia-Ukraine war, Binance announced a crypto card for displaced Ukrainians, allowing the card holders to receive financial support in BUSD coins. To receive financial support, the card holders had to be verified by local nonprofit organizations. Besides availing financial relief in the form of BUSD, the card enabled Ukrainian refugees to freely send and receive crypto payments, and conduct transactions at retail establishments spread all over the European Economic Area.
Can I mine or stake BUSD?
No. You can neither mine, nor stake BUSD. Instead, you can purchase it with USD on the Paxos website or from cryptocurrency exchange platforms.
What are some of the best wallets for BUSD?
Your choice of BUSD wallet will be determined by whether you have ERC-20 or BEP-2 BUSD coins. Some of the top BUSD wallets are MetaMask, Guarda Wallet, Ledger, Trust Wallet and Coinomi.
What can you do with BUSD coins?
You can use BUSD coins for buying goods and services, value storage, taking crypto loans, trading against other crypto assets, cross-border payments and more.
How can you buy BUSD stablecoin?
The ideal way to buy BUSD is from established crypto exchanges. You can buy it with fiat currency via Paxos, or exchange popular cryptocurrencies like LTC, ETH, BTC, XRP etc. for BUSD on Binance.
|Binance USD Price||1.0008 USD|
|Market Cap||7,721,753,922 USD|
|24h Volume||1,547,717,734 USD|
|Circulating Supply||7,715,434,148.91 BUSD|
|Max Supply||669,701,881 BUSD|
|Yesterday's Market Cap||7,723,158,094.58 USD|
|Yesterday's Open / Close||0.948115 USD / 1.001 USD|
|Yesterday's High / Low||1.002 USD / 0.9459 USD|
0.06% ( 0.052885 USD )
|Yesterday's Volume||1,370,765,725.50 USD|