Binance USD(BUSD)
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$1.0021
(-0.01%)
0.00003749 BTC
Market Cap (Rank#28)
$2,386,738,059
89,286 BTC
Vol 24h
$184,971,797
6,920 BTC
Circulating Supply
2,381,674,727.01
Max Supply
?
24 days ago • cryptodaily
Binance to Phase Out BUSD Support in Collaboration with Paxos
Binance exchange has decided to wind down support for its widely recognized stablecoin, BUSD, next year, in collaboration with Paxos.
24 days ago • cryptopotato
Binance to Discontinue BUSD Support in Q1 2024
Binance is planning to stop support for BUSD after Paxos ceased minting over six months ago.
24 days ago • cointelegraph
Binance pushes new stablecoin as it confirms plan to cease BUSD support
Paxos has earlier said it will halt support of Binance's stablecoin by February 2024, now the exchange has said it will also stop support by that time.
31 day ago • nulltx
VC Spectra (SPCT) Still Shining Bright, As Litecoin (LTC) and XRP Take a Price Dive
Altcoins remain under pressure amid selloffs across the broader crypto market. The like of Litecoin (LTC) faces a big hurdle as the world’s largest centralized Exchange, Binance, announces the delisting of Litecoin’s (LTCBUSD) perpetual contract from its exchange. Also, XRP (XRP) continues its legal battle with the SEC, which has raised concerns in the minds […]
38 days ago • cryptodaily
Binance's opBNB Goes Live On Mainnet
Binance has officially announced the launch of its opBNB Mainnet, a notable addition to the burgeoning decentralized scaling solutions sector. Touted to bolster transaction speed, security, and scalability, the move is closely watched by industry insiders and users alike.
Harnessing the Optimism OP Stack Bedrock, an optimistic rollup framework, opBNB underwent a comprehensive Testnet phase over a span of 1.5 months. During this time, the network recorded more than 7 million on-chain transactions, connecting to over 435,000 unique wallet addresses. This trial run demonstrated block processing capabilities with times hovering around one second.
Notably, opBNB's Testnet revealed its capacity to support an array of tokens, encompassing not only Binance's proprietary BNB but also widely recognized stablecoins like BUSD, USDT, and DAI. A distinguishing feature emerged in the form of minimized transaction costs, with the Layer 2 gas price set at a minimal 0.2 gwei, leading to significantly reduced expenses for users.
The impending Mainnet rollout, slotted for mid-August 2023, is bifurcated into stages: an initial access for infrastructure providers followed by a general user release. Calearly defined criteria underline the Mainnet's launch, with emphasis on High Availability to mitigate potential bottlenecks and an ambitious performance benchmark, aiming for a consistent 4,000 TPS.
Governance remains central to opBNB's approach. The Mainnet's governance framework, as detailed in the BEP-1 proposal, underscores the commitment to democratic governance processes. Concurrently, to foster ecosystem growth, opBNB is initiating a range of grants and builder programs.
Looking ahead, Binance's roadmap for opBNB is multifaceted. It includes enhancing fraud-proof systems, streamlining account abstraction, and ensuring seamless data exchange with the BNB Greenfield ecosystem. A pivotal feature on the horizon is the decentralized sequencer, indicative of Binance's preemptive stance on potential centralization concerns.
While the opBNB Mainnet launch represents a significant juncture, the path ahead focuses on robust security, augmented community engagement, and facilitating broader digital adoption.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
38 days ago • cryptodaily
Binance's opBNB Goes Live On Mainnet
Binance has officially announced the launch of its opBNB Mainnet, a notable addition to the burgeoning decentralized scaling solutions sector. Touted to bolster transaction speed, security, and scalability, the move is closely watched by industry insiders and users alike.
Harnessing the Optimism OP Stack Bedrock, an optimistic rollup framework, opBNB underwent a comprehensive Testnet phase over a span of 1.5 months. During this time, the network recorded more than 7 million on-chain transactions, connecting to over 435,000 unique wallet addresses. This trial run demonstrated block processing capabilities with times hovering around one second.
Notably, opBNB's Testnet revealed its capacity to support an array of tokens, encompassing not only Binance's proprietary BNB but also widely recognized stablecoins like BUSD, USDT, and DAI. A distinguishing feature emerged in the form of minimized transaction costs, with the Layer 2 gas price set at a minimal 0.2 gwei, leading to significantly reduced expenses for users.
The impending Mainnet rollout, slotted for mid-August 2023, is bifurcated into stages: an initial access for infrastructure providers followed by a general user release. Calearly defined criteria underline the Mainnet's launch, with emphasis on High Availability to mitigate potential bottlenecks and an ambitious performance benchmark, aiming for a consistent 4,000 TPS.
Governance remains central to opBNB's approach. The Mainnet's governance framework, as detailed in the BEP-1 proposal, underscores the commitment to democratic governance processes. Concurrently, to foster ecosystem growth, opBNB is initiating a range of grants and builder programs.
Looking ahead, Binance's roadmap for opBNB is multifaceted. It includes enhancing fraud-proof systems, streamlining account abstraction, and ensuring seamless data exchange with the BNB Greenfield ecosystem. A pivotal feature on the horizon is the decentralized sequencer, indicative of Binance's preemptive stance on potential centralization concerns.
While the opBNB Mainnet launch represents a significant juncture, the path ahead focuses on robust security, augmented community engagement, and facilitating broader digital adoption.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
48 days ago • cointelegraph
Binance sold USDC for another stablecoin — Coinbase CEO
Binance has been experimenting with relatively lesser-known stablecoins after a pause on BUSD.
48 days ago • cryptodaily
Binance Releases August Report For Proof of Reserves
Binance, the world's largest cryptocurrency exchange, has published its August 2023 reserve report, showcasing a reserve ratio well over 100% for all of its major cryptocurrency holdings.
The disclosure forms a part of Binance's ongoing commitment to maintain a Proof of Reserves (PoR) system, providing evidence that it holds sufficient funds to cover all customer deposits. The report is based on an audit for BTC Block Height 801130 from aggregated data updated to August 1st, 2023.
Proof of Reserves (PoR) is a transparency protocol that confirms the solvency of a cryptocurrency exchange. It functions as proof that the exchange possesses enough funds to cover users' assets on a 1:1 ratio. Essentially, when a user deposits a Bitcoin, Binance's reserves increase by at least one Bitcoin, thereby ensuring all client funds are fully backed. These figures don't include Binance's corporate holdings, which are kept separate.
Binance's PoR report demonstrates that the exchange's reserves are well above the customer net balance for all the reported cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, Tether, BUSD, and USDC, with reserve rates ranging from 101.62% to 117.99%. This shows that the company has more than enough reserves to meet all potential customer withdrawals.
PoR aims to increase transparency, safety, and user protection in the cryptocurrency ecosystem. As such, it discourages exchanges from misusing user funds and promotes trust among users. In line with this, Binance users can verify their account's inclusion in the last PoR verification themselves, further emphasizing the exchange's commitment to transparency and user trust.
How Proof of Reserves (PoR) Works with Merkle Trees
To ensure that it holds all user assets 1:1, Binance has implemented a system that leverages Merkle trees. A Merkle Tree is a cryptographic tool that facilitates the condensation of large volumes of data into a single hash, called a Merkle Root. This root acts as a cryptographic "seal" that summarizes all the input data. Furthermore, Merkle Trees allow users to verify specific contents included within a particular set of sealed data.
In the context of PoR, Binance uses the properties of Merkle Trees to verify that individual user accounts are incorporated within the liabilities report inspected by an auditor. Each user can verify their asset holdings using their unique generated Merkle hash/record ID.
Here's a step-by-step breakdown of the process:
Verify Ownership of Address: Binance first verifies that the ownership of wallets (both cold and hot wallets) used in the PoR process belong to the exchange.
Snapshot of User Balances: A snapshot of asset holdings within each customer's account is taken at a specific date and time.
Generation of Merkle Tree: Binance generates an underlying data block by linking the hashed user ID and balance of each user. Based on all users' data, a Merkle tree is then created. If any account ID or balance in the leaf node changes, the Merkle root will also change. Consequently, every user can verify whether their assets are included in the leaf node.
zk-SNARKs in the Verification Process
Along with Merkle Trees, Binance also utilizes zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) in the verification process. A zk-SNARK is a proof protocol that allows one to prove that they know a value without revealing what that value is.
In the case of Binance, the exchange uses a zk-SNARK to demonstrate that all the leaf nodes' balance sets (i.e., user account balances) contribute to the exchange’s claimed total user asset balance. Each user can easily access their leaf node to see that it was included in the process.
The use of zk-SNARKs follows a few steps:
Verify Ownership of Address: Like in the previous process, Binance verifies the ownership of the wallets (both cold and hot wallets) used in the PoR process.
Snapshot of User Balances: Again, a snapshot of asset holdings within each customer's account is taken.
Generate zk-SNARKs Proof: zk-SNARKs proof files are generated for each user. This allows every user to easily access their leaf node and verifies that the total net balance of the user is greater than or equal to zero.
In addition to these self-verification methods, Binance also uses third-party audits to provide audit reports, further bolstering the security and transparency of the verification process.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
48 days ago • cryptodaily
Binance Releases August Report For Proof of Reserves
Binance, the world's largest cryptocurrency exchange, has published its August 2023 reserve report, showcasing a reserve ratio well over 100% for all of its major cryptocurrency holdings.
The disclosure forms a part of Binance's ongoing commitment to maintain a Proof of Reserves (PoR) system, providing evidence that it holds sufficient funds to cover all customer deposits. The report is based on an audit for BTC Block Height 801130 from aggregated data updated to August 1st, 2023.
Proof of Reserves (PoR) is a transparency protocol that confirms the solvency of a cryptocurrency exchange. It functions as proof that the exchange possesses enough funds to cover users' assets on a 1:1 ratio. Essentially, when a user deposits a Bitcoin, Binance's reserves increase by at least one Bitcoin, thereby ensuring all client funds are fully backed. These figures don't include Binance's corporate holdings, which are kept separate.
Binance's PoR report demonstrates that the exchange's reserves are well above the customer net balance for all the reported cryptocurrencies, including Bitcoin, Ethereum, Binance Coin, Tether, BUSD, and USDC, with reserve rates ranging from 101.62% to 117.99%. This shows that the company has more than enough reserves to meet all potential customer withdrawals.
PoR aims to increase transparency, safety, and user protection in the cryptocurrency ecosystem. As such, it discourages exchanges from misusing user funds and promotes trust among users. In line with this, Binance users can verify their account's inclusion in the last PoR verification themselves, further emphasizing the exchange's commitment to transparency and user trust.
How Proof of Reserves (PoR) Works with Merkle Trees
To ensure that it holds all user assets 1:1, Binance has implemented a system that leverages Merkle trees. A Merkle Tree is a cryptographic tool that facilitates the condensation of large volumes of data into a single hash, called a Merkle Root. This root acts as a cryptographic "seal" that summarizes all the input data. Furthermore, Merkle Trees allow users to verify specific contents included within a particular set of sealed data.
In the context of PoR, Binance uses the properties of Merkle Trees to verify that individual user accounts are incorporated within the liabilities report inspected by an auditor. Each user can verify their asset holdings using their unique generated Merkle hash/record ID.
Here's a step-by-step breakdown of the process:
Verify Ownership of Address: Binance first verifies that the ownership of wallets (both cold and hot wallets) used in the PoR process belong to the exchange.
Snapshot of User Balances: A snapshot of asset holdings within each customer's account is taken at a specific date and time.
Generation of Merkle Tree: Binance generates an underlying data block by linking the hashed user ID and balance of each user. Based on all users' data, a Merkle tree is then created. If any account ID or balance in the leaf node changes, the Merkle root will also change. Consequently, every user can verify whether their assets are included in the leaf node.
zk-SNARKs in the Verification Process
Along with Merkle Trees, Binance also utilizes zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) in the verification process. A zk-SNARK is a proof protocol that allows one to prove that they know a value without revealing what that value is.
In the case of Binance, the exchange uses a zk-SNARK to demonstrate that all the leaf nodes' balance sets (i.e., user account balances) contribute to the exchange’s claimed total user asset balance. Each user can easily access their leaf node to see that it was included in the process.
The use of zk-SNARKs follows a few steps:
Verify Ownership of Address: Like in the previous process, Binance verifies the ownership of the wallets (both cold and hot wallets) used in the PoR process.
Snapshot of User Balances: Again, a snapshot of asset holdings within each customer's account is taken.
Generate zk-SNARKs Proof: zk-SNARKs proof files are generated for each user. This allows every user to easily access their leaf node and verifies that the total net balance of the user is greater than or equal to zero.
In addition to these self-verification methods, Binance also uses third-party audits to provide audit reports, further bolstering the security and transparency of the verification process.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
59 days ago • cryptodaily
Tron (TRX) Price Falls, Early Solana (SOL) Investor Buys into Pomerdoge (POMD) Presale
Solana (SOL) and Tron (TRX) are two cryptocurrencies that have been through ups and downs. While their price movement sometimes isn’t quite stable, investors switched to the new Pomerdoge (POMD) token. Pomerdoge (POMD) is a revolutionary P2E game and is the next largest meme coin. One of the best forecasts is that it will surge by 4,000%!
>>BUY POMD TOKENS NOW>BUY POMD TOKENS NOW>BUY POMD TOKENS NOW<<
Pomerdoge (POMD) Leaves Solana (SOL) and Tron (TRX) in the Dust
Pomerdoge (POMD) is a new P2E game that already got a lot of investors’ attention. This game promises a lot of fun, along with amazing gains. Pomerdoge (POMD) aims to unite the positive aspects of competitors into a unique product.
Moreover, Pomerdoge (POMD) has successfully undergone audits by Interfi Network and SOLIDProof. Thanks to this, you will be able to play the game in September. The exciting Pomergame will also connect players worldwide, helping them upgrade their Pomerdoge(POMD) characters and create customized items for their POMD avatars.
Besides this, Pomerdoge (POMD) will enable you to buy, sell, and trade items, skins, and many other objects that the Pomerplace market holds. More so, POMD’s Pomerplace will also come with a battle arena where Pomerdoge (POMD) holders can get better rewards by testing the strengths of their avatars.
What’s more, a lot of crypto analysts call Pomerdoge (POMD) ‘the biggest meme-coin of 2023.’ This is because the Pomerdoge (POMD) token is currently worth $0.0000264. As most experienced investors know, investing early in solid projects is where significant gains are often made. In other words, if you invest now, you have the chance to experience the 4,000% surge of Pomerdoge (POMD) by the end of the year.
But that’s not all! The Pomerdoge (POMD) token offers access to the collection of 7,777 NFTs that should be launched during June and July. In addition, you can even get a revenue percentage. Moreover, you can engage in $100,000 weekly giveaways that will take place in Pomerdoge’s Telegram group.
The best part is that you only need to connect your crypto wallet and use ETH, USDT, USDC, BNB, or BUSD to become part of the Pomerdoge (POMD) family. We believe this could be an opportunity to get into an exciting cryptocurrency at a perfect price point!
For more information about the Pomerdoge (POMD) presale:
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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
65 days ago • coindesk
Move Over Shiba Inu: Crypto Community Flirts With Hamster Race Betting
A bunch of actual hamsters are racing on a new platform, and returns-starved traders are placing BUSD-based bets on who wins.
83 days ago • cryptodaily
Poly Network Urges Users To Withdraw Funds After Another Exploit
The Poly Network has fallen victim to another exploit after hackers manipulated a smart contract function on the cross-chain bridge protocol.
Poly Network confirmed the hack, adding that it would be temporarily suspending all services.
57 Crypto Assets Impacted
The attack on Poly Network occurred on the 2nd of July, resulting in the hacker being able to issue billions of tokens seemingly out of thin air to generate a profit. Poly Network confirmed the attack through its official Twitter handle, stating that it had become the latest DeFi entity to fall victim to a hack, adding that it was temporarily suspending services. The update also stated that the exploit had impacted 57 crypto assets based on ten blockchains, including BNB Chain, Ethereum, Avalanche, Polygon, OKx, Heco, and others.
While it isn’t clear how much has been stolen in the attack, PeckShield has reported that the attacker had transferred at least $5 million worth of crypto from the cross-chain bridge. In an update issued on the 3rd of July, the Poly Network team stated,
“We have already initiated communication with centralized exchanges and law enforcement agencies and sought their assistance.”
The team further advised token holders to withdraw liquidity and unlock their liquidity provider tokens.
Poly Network Hack Breakdown
According to DeFi security analyst @0xArhat, the exploit stemmed from a smart contract vulnerability that allowed the hackers to create a malicious parameter that contained a fake validator signature and block header. The smart contract accepted this malicious parameter, allowing the hacker to bypass the verification process and issue tokens from Poly Network’s Ethereum pool to their address on other chains such as BNB Chain, Polygon, and Metis. The same procedure was repeated for other chains, resulting in a massive pile-up of tokens.
According to @0xArhat, the hacker’s wallet held over $42 billion worth of tokens at one point. However, the hacker could only convert and steal a fraction of the tokens. The attackers had minted 24 billion Binance USD (BUSD) and BNB on the Metis blockchain, 999 trillion Shiba Inu (SHIB) on the Heco blockchain, and millions of other tokens on other prominent networks such as Polygon and Avalanche.
“This way, the hacker was able to mint billions of tokens on various blockchains that did not exist before and transfer them to their own wallet addresses.”
Dedaub has dubbed the latest hack to hit Poly Network as the “34 billion Poly Network hack.” He also highlighted several weaknesses in the protocol’s multi-sig, adding that it only had a simple 3 of 4 multi-signature arrangement for over two years.
“Getting to the bottom of the “34 billion” Poly network hack with a technical postmortem. TL;DR Poly network had a simple 3 of 4 multisig arrangement over 2 years! Looking at the final event, we found that the private keys to the addresses marked were compromised.”
According to the blockchain security solutions provider, the attack was not complex, as no logic bugs were exploited. Poly Network itself was slow to respond, eventually costing the platform $5.5 million in stolen crypto. However, a lack of liquidity in a majority of the tokens in question prevented further significant losses.
Binance, Polygon Reassure Users
Following the attack on the Poly Network, Binance CEO Changpeng Zhao stated that the exploit does not impact Binance users, adding that it did not support deposits from the Poly Network. Polygon’s Mudit Gupta stated on Twitter,
“Poly Network got rekt again, allegedly because of compromised hot keys. It’s going to keep happening until our industry changes our approach to security. Smart contract audits only scratch the surface. Ps Poly network has NOTHING to do with Polygon.”
Poly Network’s Previous Hack
This was the second time a major hack hit the Poly Network. In August 2021, the protocol was hit by attackers who managed to drain a then-record $600 million through the alleged leak of a private key that was used to sign a cross-chain message. As a result, the Poly Network lost $264 million in ETH, $250 million in BSC, and $85 million in MATIC. However, Poly Network later updated that the hacker had returned the stolen funds, with the hacker claiming the attack was orchestrated for fun, and even offered the anonymous hacker a job as the Chief Security Advisor to the protocol, adding that it won’t be pressing any charges.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
84 days ago • coindesk
PolyNetwork Attacker Issues “Worthless” Billions in SHIB, BNB, BUSD in Latest Crypto Hack
An estimated $4 billion worth of malicious token issuances on PolyNetwork will not bear much money for attackers due to low liquidity and security precautions.
96 days ago • cryptodaily
Bitcoin Reclaims 50% Market Dominance Following BlackRock ETF
Bitcoin’s market dominance has again breached the 50% mark after two years following the filing of the BlackRock ETF.
This marks the first time since 2021 when China announced a complete ban on crypto mining and Tesla distanced itself from the asset that the dominance metric has risen above 50%.
Recapturing Its Throne
Bitcoin dominance is the measure used to determine how much Bitcoin makes up the total crypto market capitalization. The dominance crossed the 50% mark on the 6th of June, 2023, and then settled slightly lower at $49.9%, according to data sourced from TradingView. At present, Bitcoin dominance is back above the 50% mark, hovering at around 50.5%. This means that Bitcoin now accounts for half of the total $1.1 trillion market capitalization of the cryptocurrency market. Out of this, Bitcoin’s currency market capitalization is around $520 billion, according to data from Coingecko.
Bitcoin’s market dominance has surged by over 10% since the 27th of November 2022. This increase has primarily been driven by investors looking at Bitcoin as a safe haven for their investments following the dramatic collapse of the Sam Bankman-Fried-led FTX exchange and growing regulatory scrutiny of altcoins in the United States of America. Bitcoin was last near the 50% mark in June 2022, after which the crypto markets saw a significant drop thanks to dogged and persistently high inflation in the US. This high inflation led the Federal Reserve to take aggressive steps to contain it.
However, Bitcoin’s dominance metric has come under some criticism for under-representing Bitcoin’s actual market share by also including stablecoins in its calculations. But, this year has also seen the stablecoin markets struggle, with the Securities and Exchange Commission ordering Paxos to shutter its BUSD in February. This move erased billions from circulation.
Ethereum Holds Steady
While Bitcoin had dropped significantly in 2022, Ethereum had seen an even more significant drop, with the ETH/BTC pair dropping to a ratio of only 0.05%. However, with Bitcoin’s market dominance on the upswing, Ethereum (ETH) has held its position quite steady and has been around the 20% mark for the better part of a year. At present, the combined value of Bitcoin (BTC) and Ethereum (ETH) make up around 70% of the entire crypto market.
Bitcoin Dominance To Grow?
Some, such as MicroStrategy co-founder Michael Saylor, believe that Bitcoin’s market dominance will continue to grow, eventually reaching 80% of the total market in the next few years. According to Saylor, increasing regulatory scrutiny and pressure from the United States Securities and Exchange Commission would eventually cause a majority of other market assets to “go away.”
“Regulatory clarity is going to drive #Bitcoin adoption by eliminating the confusion & anxiety that has been holding back institutional investors. Bitcoin dominance will continue to grow as the #Crypto industry rationalizes around $BTC and goes mainstream. The entire industry is destined to be rationalized down to a Bitcoin-focused industry, with maybe half a dozen to a dozen other Proof of Work tokens.”
Saylor also blamed the lack of any institutional money making its way to the crypto markets on the confusion and anxiety created by the thousands of other cryptocurrencies that have positioned themselves as an alternative to the world’s largest cryptocurrency. He also pointed out that Bitcoin is the only cryptocurrency that Securities and Exchange Commission Chair Gary Gensler has called a commodity.
“Bitcoin is the universally, globally-acknowledged digital commodity in this industry.”
Despite the fear and uncertainty prevailing in the markets, Bitcoin’s value has grown over 3% over the past week. Currently, Bitcoin is trading at $26,768, according to data from Coingecko.
The BlackRock Exchange Traded Fund (ETF)
One of the major drivers of Bitcoin’s price and dominance in recent days is BlackRock announcing that it is filing for a Bitcoin Spot Exchange Traded Fund (ETF), according to crypto research firm Santiment. Investors are quietly confident that the ETF may receive approval from the Securities and Exchange Commission. According to a filing by the Nasdaq stock exchange with the SEC, Coinbase Custody Trust Company would be the custodian of the fund’s Bitcoin holdings, while the Bank of New York Mellon would custody the fund’s fiat currency.
However, some have also raised concerns about the Bitcoin Spot Exchange Traded Fund after details hidden in the filing shed light on what BlackRock could potentially do in the event of a Bitcoin hard fork. According to the ETF filing, in the event of a hard fork, BlackRock would get to decide which fork to go with, effectively deciding on the future of Bitcoin.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
96 days ago • cryptodaily
Ninja Warriors Meta launches second presale ahead of Full Gameplay Release in Q4 2023
The highly anticipated full launch of the Ninja Warriors Meta blockchain game is set to take place in Q4 2023.
However, before this groundbreaking release, the platform launched its second presale, where for every USDT invested, the user receives 66.6666667 NWT. NWT is the native token of the Ninja Warriors Meta gaming platform.
Ninja Warriors Meta's Presale
In line with the project's roadmap, the NWT presale is already underway before the full launch of Ninja Warrior Meta's blockchain gaming platform.
The NWT token is the native token and core of the Ninja Warrior Meta ecosystem. Thus, the presale allows gamers to acquire NWT tokens at a discounted price before the general publicif they intend to fully participate in the full game mode upon launch at the end of 2023.
The minimum investment amount is 100 USDT, while whales can only buy a maximum of 100,000 USDT. All investors must submit personal details as part of the know-your-customer (KYC) procedure.
It would also allow gamers and investors to enjoy a share in future developments, enhanced gameplay, immersive game modes, rewards, and an expanded gaming ecosystem.
The roadmap showcases a clear vision for exponential growth, and the team behind Ninja Warriors Meta is committed to continuous development and strategic partnerships with industry leaders.
To fund the project's roadmap and ensure widespread adoption and awareness, the NWT presale allows Ninja Warrior Meta to run a dedicated branding phase utilizing organic traffic generation on social media platforms.
The focus would be expanding the Ninja Warrior Meta community, including captivating press releases, team interviews, and strategic campaigns.
The presale goes beyond promoting the Ninja Warrior Meta blockchain game through engaging storytelling and content like videos and gameplay showcases.
Notably, it facilitates gathering like-minded crypto game participants, influential figures, and investors, immersing them in Ninja Warriors Meta.
Moreover, Ninja Warriors Meta is set to release a move-to-earn (M2E) application for Android and iOS platforms in two months. This application offers users the opportunity to accumulate points through physical activities, including gym visits and diverse movements. These points can be exchanged for DBUSD tokens.
Full-game Launch
Amid the ongoing NWT presale, since Q3 2022, gaming enthusiasts have been eagerly awaiting the announcement of Ninja Warriors Meta's full-game platform. The game is set for launch in Q4 2023.
98 days ago • cointelegraph
BUSD falls to fourth position among stablecoins
After a dip of over $1 billion in the past 30 days, BUSD now sits at the fourth position in market capitalization among stablecoins.
100 days ago • cryptopotato
Stablecoin Race: DAI Surpasses BUSD Amid Binance-SEC Regulatory Row
DAI is now the third-largest stablecoin trailing behind Tether (USDT) and USDC Coin (USDC).
102 days ago • cryptodaily
Security or Commodity? - Congress to vote on clarity for Crypto
Following a Financial Services Committee hearing on Tuesday, a digital asset bill will be voted on in July which will give clarity to the crypto industry.
A hearing took place on Tuesday in which two bills were discussed pertaining to obtaining clarity for the digital asset ecosystem and for stablecoins.
Representatives from the crypto industry were present and testified at the hearing. These included: Jeremy Allaire, CEO of Circle, Dr Emin Gün Sirer, CEO of Ava Labs, Aaron Kaplan, Co-CEO of Prometheum, Inc., and Coy Garrison, former counsel to SEC Commissioner Hester Peirce.
Digital Asset Market Structure
The memorandum for the hearing posited that the determination of whether a digital asset fell under the definition of a security or a commodity was a “difficult” question in the US.
The oft quoted Howey test needs to see all four of its characteristics met in order for any particular digital asset to be constituted as an investment contract, and consequently classified as a security. It is argued that one or more of these characteristics may not apply to certain digital assets.
It was put forward how both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) tended to act through enforcement rather than dialogue.
“Generally, the SEC and CFTC have attempted to resolve the legal question of whether a digital asset is a security or a commodity through enforcement actions.”
It was further added that these agencies do not always agree on which digital assets fall under either of their purviews. The example was given whereby Chairman Gensler of the SEC has said that he considers all digital assets to be securities with the only exception of Bitcoin.
On the other hand, the CFTC recently brought an enforcement action against Binance, asserting that Bitcoin, BUSD, Litecoin, and Ethereum were commodities. These inconsistencies were stated to be a good reason for the “urgency of congressional action”.
Stablecoins
It was laid down that there are four classifications for stablecoins. These include: fiat-collateralised stablecoins, crypto-collateralised stablecoins, commodity-collateralised stablecoins, and non-collateralised stablecoins.
It was also stated that there are currently more than 200 different types of stablecoins with a collective value of more than $130 billion. Tether has the biggest market capitalisation with $82.5 billion, followed by USDC with $30.1 billion.
Adding complexity to the situation, each state has its own regulatory framework for stablecoins, and various stablecoins could fall under the jurisdiction of different regulators.
Vote on bill for clarity
According to Patrick McHenry, US House Financial Services Committee Chairman, a digital asset bill will be voted on as soon as lawmakers return from their recess in early July.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
109 days ago • cointelegraph
Binance.US halts trading for dozens of USDT, BTC, BUSD pairs amid SEC lawsuit
Binance’s arm in the United States suspended its OTC trading platform and reduced the number of supported convert trading pairs.
111 days ago • coindesk
Decentralized Exchange DYdX’s Token Spikes Almost 10% After SEC Sues Binance for Alleged Securities Violations
The surge in DYDX comes as the SEC alleges BNB and BUSD – tokens belonging to centralized exchange Binance – are unregistered security offerings.
111 days ago • cryptopotato
Bitcoin Plummets After SEC Sues Binance for Securities Violations
The agency alleged that Binance’s native tokens, including BUSD and BNB, are unregistered securities.
115 days ago • cryptopotato
Tether (USDT) Market Cap Breaks May 2022 ATH Level of $83.2 Billion
While USDT continues to gain market dominance, other stablecoins like BUSD and USDC struggle to sustain their market share.
152 days ago • nulltx
As Zambia’s Crypto Regulation Looms, TMS Network (TMSN) Stands Strong While Aptos (APT) And Binance USD (BUSD) Wait With Bated Breath
Crypto regulation appears to be imminent in Zambia, but the reality is it is happening right around the world. Both Aptos (APT) and Binance USD (BUSD) have so far reacted negatively to the increasing amount of crypto regulation, but the unique decentralized features offered by TMS Network (TMSN) has seen it rise above it all. […]
177 days ago • cointelegraph
BUSD deposits and withdrawals via OCBS suspended on Binance.US
Binance.US said it temporarily disabled the One Common Billing System and BUSD stablecoin pairs after halting Apple Pay and Google Pay deposits.
About Binance USD?
The live price of Binance USD (BUSD) today is 1.0021 USD, and with the current circulating supply of Binance USD at 2,381,674,727.01 BUSD, its market capitalization stands at 2,386,738,059 USD. In the last 24 hours BUSD price has moved 0.0003 USD or 0.00% while 156,498,098 USD worth of BUSD has been traded on various exchanges. The current valuation of BUSD puts it at #28 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.
What is Binance USD (BUSD) ?
Binance USD (BUSD) is a stablecoin that combines the stability of the US dollar with the versatility and innovation of blockchain technology. Launched in September 2019, BUSD is a 1:1 USD-backed token approved and regulated by the New York State Department of Financial Services (NYDFS). Designed as a digital fiat currency, BUSD is issued on the Ethereum blockchain as an ERC-20 token and also supports the BEP-2 standard.
History and Founding Team
Binance USD was created through a partnership between Binance, one of the world's largest cryptocurrency exchanges, and Paxos, a leading provider of blockchain infrastructure solutions. The founding team includes Changpeng Zhao (CZ), the CEO of Binance, and Charles Cascarilla, the CEO of Paxos. Since its launch, BUSD has seen tremendous growth and adoption, expanding its utility and value within the digital asset ecosystem.
In March 2023, the price of BUSD briefly deviated from its 1:1 peg due to rumors surrounding its founder, CZ, who was reportedly the subject of a potential red notice from Interpol. While the situation was quickly resolved, it highlights the importance of staying informed about the latest developments affecting the token and its ecosystem.
Blockchain and Smart Contracts
The technology behind BUSD revolves around blockchain, the digital ledger that securely records transactions, and smart contracts, self-executing agreements with the terms directly written into code. Smart contracts enable the token's core functionalities, such as minting, redemption, and transfers. The use of blockchain and smart contracts provides numerous advantages over traditional tokens, including increased security, transparency, and efficiency.
To ensure network security, BUSD employs a consensus mechanism, which relies on validators to agree on transaction validity and maintain the blockchain. This consensus mechanism varies depending on whether the BUSD token is on the Ethereum or Binance Smart Chain (BSC) network. On the Ethereum network, BUSD uses the Proof-of-Stake (PoS) consensus, while on the BSC network, it employs the Proof-of-Staked-Authority (PoSA) consensus.
BUSD Use Cases and Ecosystem Growth
BUSD offers a wide range of use cases that capitalize on its price stability. Some of the most notable use cases include:
Transferring digital dollars (BUSD) globally in minutes at a low cost and on the blockchain.
Trading BUSD on various exchanges and decentralized exchanges (DEXs).
Depositing BUSD to earn interest.
Paying for goods and services using BUSD.
Using BUSD as collateral and loan assets in Decentralized Finance (DeFi) platforms.
Utilizing BUSD as cross-collateral in futures trading.
The BUSD ecosystem has grown exponentially in recent years, driven by increased user adoption and support from wallets, platforms, services, DEXs, and centralized exchanges (CEXs). Top wallets like MetaMask, Trust Wallet, Trezor, and Zapper now allow users to hold BUSD. Platforms and services like travel booking site Travala, payment gateways Moonpay and Banxa, payment APIs Wyre, and multi-currency payment services ivendPay and Paylot also support BUSD. BUSD is available on leading DEXs, including PancakeSwap, Uniswap, 1inch, Curve Finance, Ellipsis, MDEX, SushiSwap, and 0x.
For users interested in yield farming and lending BUSD, it is available on centralized platforms like Binance. Top DeFi protocols like Venus, Aave, Yearn.Finance, and more also allow users to earn yield on their BUSD. This extensive ecosystem growth has propelled BUSD to become the third-largest stablecoin by market capitalization, following Tether (USDT) and USD Coin (USDC).
Transparency and Asset Backing
In an effort to maintain transparency and trust, Paxos regularly discloses the assets backing BUSD. As of June 30, 2022, 96% of the assets backing Binance USD were held in cash and cash equivalents, with the remaining 4% invested in U.S. Treasury bills. Paxos holds all cash balances in U.S.-insured depository institutions, while cash equivalents are held in "U.S. Treasury bills with maturities of 3 months or less, or overnight repurchase agreements, overcollateralized by U.S. Treasury instruments."
BUSD and Charity
Binance has demonstrated the potential of cryptocurrency in supporting humanitarian aid through its charitable endeavors. In April 2022, Binance donated $2.5 million in BUSD through its charity organization to USA for UNHCR, a UN refugee agency. This was the agency's first stablecoin crypto donation, highlighting the growing role of digital assets in fundraising and philanthropy.
How to Buy the Token
Choose a reputable cryptocurrency exchange, such as Binance, Bybit, Bitrue, Bitget, or BingX.
Create an account with your chosen exchange and complete the necessary identity verification steps.
Fund your account with a supported cryptocurrency or fiat currency.
Search for the BUSD trading pair (e.g., BUSD/USDT) and execute a buy order at the desired price.
Store your newly purchased BUSD in a secure wallet, such as MetaMask, Trust Wallet, or Trezor.
In addition to purchasing BUSD on exchanges, you can also acquire the token directly from Paxos. Paxos offers a seamless process for users to buy and redeem BUSD at a 1:1 ratio with USD, ensuring liquidity and ease of access.
Binance USD (BUSD) Contract address:
As per Etherscan, the Ethereum contract address for BUSD is:
0x4Fabb145d64652a948d72533023f6E7A623C7C53
As per BscScan, the Binance Smart Chain contract address for BUSD is:
0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56
Securing Your BUSD Holdings
As with any digital asset, securing your BUSD holdings is crucial. When storing your tokens, opt for reputable wallets that prioritize security and user-friendliness. For maximum security, consider using hardware wallets like Trezor or Ledger. Always practice proper digital asset management, such as regularly updating your wallet software, using strong passwords, and enabling two-factor authentication (2FA).
Frequently asked questions about BUSD
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 | 1.0021 USD |
| Market Rank | #28 |
| Market Cap | 2,386,738,059 USD |
| 24h Volume | 184,971,797 USD |
| Circulating Supply | 2,381,674,727.01 BUSD |
| Max Supply | No data |
| Yesterday's Market Cap | 2,386,917,291.67 USD |
| Yesterday's Open / Close | 1.0019 USD / 1.0022 USD |
| Yesterday's High / Low | 1.0022 USD / 1.0019 USD |
| Yesterday's Change | 0.00% ( 0.0003 USD ) |
| Yesterday's Volume | 156,498,097.50 USD |
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