Statistics show that in the past 6 days, 28.61 BUSD were withdrawn from the market, that is, the supply decreased by 17.77% during this period.
The supply of BUSD has shrunk by 19.2% over the past 30 days. When the stablecoin issuer Paxos announced that it would no longer mint new BUSD stablecoins, the BUSD in circulation was $16.1 billion. Binance currently holds 10.9 billion BUSD as of Feb. 19, according to Nansen’s exchange portfolio tool.
Indicators show that BUSD still accounted for $7.24 billion of the $67.71 billion global trading volume of the encrypted economy that day, accounting for 10.7% of the total. Binance dominates most of BUSD’s trading volume, and the most popular trading pair for the stablecoin right now is USDT.
According to statistics from Cryptocompare.com, 5.52% of Sunday’s BUSD trading volume was also pegged to the Turkish lira. While BUSD has seen the most redemptions over the past 30 days, USDC has shed 2.9% of its supply during that time.
Notably, the supply of Paxos’ other stablecoins, Pax Dollar (USDP), has fallen by 19.3%, and the supply of PAX Gold (PAXG) has dropped by 11.3% in 30 days. In contrast, USDT’s supply has grown by 5.8%, and its market cap exceeds $70 billion.