Binance USD (BUSD) Market Cap Soared More Than $400 Million in May

2022-6-30 20:15

BUSD joined USDC as one of the few cryptocurrencies that withstood the market crash of May which led to a steep decline in prices that saw billions of dollars wiped off the market.

The token issued by Binance remains a top 10 digital asset by market capitalization in June. According to Be[In]Crypto Research, BUSD closed the fifth month of the year with a market capitalization of around $18.2 billion.

This marked a 2% increase from the opening day’s market value. BUSD saw a trading volume in the region of $4.08 billion which corresponded to a market capitalization of approximately $17.71 billion on May 1.

Source: BUSD Historical Data from CoinMarketCap Why the increasing market capitalization? 

The high demand for the stablecoin during the peak of the crash on May 9 to 13 can be credited for the soaring market capitalization of the token. 

The number of large transactions peaked on May 12. On that day, transactions involving BUSD were 796,000 at a price of $0.966500.

Source: May 2022 Number of Large Transactions Chart by Into the Block

This corresponded with a transaction volume of 4.33 billion tokens at the same price.

Source: May 2022 BUSD Total Volume in BUSD Chart by Into the Block

The total transaction volume of 4.33 billion BUSD multiplied by $0.966500 equals $4.18 billion.

Source: BUSD Total Volume in USD Chart by Into the Block

On May 12, it opened at $1, reached an intraday high of $1.02, tested an intraday low of $1, and closed at $1. 

The trading volume for the day was $19.14 billion and corresponded to a market capitalization of $17.09 billion. Increased demand by traders to offset huge losses saw the token maintain its peg by the close of the month. 

BUSD price reaction 

BUSD opened on May 1, at $0.9994, reached a monthly high of $1.02 on May 12, tested a monthly low of $0.9978 on May 9, and ended the month with a trading price of $1. Overall, there was a 0.6% increase in the opening and closing price of the token in May.

Source: BUSD/USD Chart by TradingView

What do you think about this subject? Write to us and tell us!

The post Binance USD (BUSD) Market Cap Soared More Than $400 Million in May appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market may busd cap soared binance usd

Источник: beincrypto.com

market may → Результатов: 126


BITCOIN CASH Price Prediction Today: Daily (BCH) Value Forecast – April 29

The short and medium-term outlook remains in a bearish trend. Traders may consider selling at bullish exhaustion area with bearish reversal candlestick as confirmation. BCH/USD Medium-term Trend: Bearish Supply zones: $300, $400, $500 Demand zones: $100, $50, $30 BCHUSD outlook in the medium-term is in a bearish trend. The bears kept the market under control […]

2019-4-29 08:27


Bitcoin SV Price Prediction: Long-term (BSV) Value Forecast – April 27

BSV/USD market is now in a consolidation moving mode. BSV/USD trade may still run into other variant lines of range market movements. BSV/USD Long-term Trend – Ranging Distribution territories: $80, $90, $100 Accumulation territories: $30, $20, $10 The price movements of the BSV/USD market valuation have been in a range trending outlook since this week’s […]

2019-4-27 12:50


Фото:

Bitcoin confirmed transactions per day approach 2017 highs, is the crypto market recovering?

Bitcoin (BTC), the world’s largest cryptocurrency by market cap, has experienced a steady increase in its market valuation since the low of Dec. 17, 2018 which may be correlated to the strong growth in the number of confirmed transactions on its blockchain—reaching levels not seen since the peak of the market in 2017.

2019-4-25 20:04


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

What is Causing the Total Crypto Market Cap to Fall?

The fall in the total market capitalization of cryptocurrencies on Thursday can be attributed to a number of potential factors. The post What is Causing the Total Crypto Market Cap to Fall? appeared first on BeInCrypto.

Bitcoin (BTC) on-Chain Analysis: Market Cap Approaches Realized Cap

BeInCrypto takes a look at Bitcoin (BTC) on-chain indicators, more specifically the realized and market capitalizations and their relationship with each other. The post Bitcoin (BTC) on-Chain Analysis: Market Cap Approaches Realized Cap appeared first on BeInCrypto.