BUSD Dominates Reserve Certificates on Blockchain

02/14/2023 03:40 • Daily Digest • 93 views

According to the report, according to the data of Dune Analytics, at present, the largest proportion of the reserve certificates on the blockchain of Coin and Ethereum is BUSD, with a value of about $12714180193, followed by ETH, with a value of about $6731684203. In addition, according to the data of Coinsecko, the market value of BUSD at the time of writing is about 15805842427 US dollars, which means that the current BUSD reserves on the Ethereum chain have accounted for 80.4% of the total market value of BUSD.

Data: At present, the BUSD reserves on the Ethereum chain account for more than 80% of the total market value of BUSD

Interpretation of the news:

The message discusses the dominance of BUSD as a reserve currency on the blockchain of Coin and Ethereum. The data from Dune Analytics reveals that BUSD holds the largest proportion of reserve certificates, valued at $12714180193. Ethereum is the second largest with a value of $6731684203.

Furthermore, the message goes on to mention the current market value of BUSD obtained from Coinsecko, which is about 15805842427 US dollars. This suggests that the current BUSD reserves on the Ethereum chain represent 80.4% of the total market value of BUSD.

This data highlights the growing importance of BUSD as a stablecoin within the cryptocurrency ecosystem. BUSD is backed by US dollars and is issued by the cryptocurrency exchange Binance. Its popularity can be attributed to its stability and security, which makes it an attractive option for investors and traders.

The dominance of BUSD as a reserve currency also indicates that investors are more interested in stablecoins that offer them a degree of stability and security compared to pure cryptocurrencies that are more volatile. As more investors enter the cryptocurrency market, stablecoins like BUSD will play an increasingly important role in providing a stable alternative to traditional fiat-currencies.

In conclusion, the data presented in the message clearly indicates the dominance of BUSD as a reserve currency on the blockchain of Coin and Ethereum. As the popularity of cryptocurrencies and blockchain continues to grow, stablecoins like BUSD will only gain more prominence in the ecosystem. Investors will continue to look for secure and stable options, and BUSD’s popularity suggests that stablecoins will be a critical component of the cryptocurrency market in the future.

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BUSD Dominates Reserve Certificates on Blockchain

Data: At present, the BUSD reserves on the Ethereum chain account for more than 80% of the total market value of BUSD

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