Binance USD (BUSD) Price Tops $1.00 on Exchanges

Binance USD (BUSD) traded 0% higher against the dollar during the 24-hour period ending at 11:00 AM Eastern on July 6th. In the last seven days, Binance USD has traded 0.2% higher against the dollar. One Binance USD token can now be bought for about $1.00 or 0.00001756 BTC on exchanges. Binance USD has a total market capitalization of $69.54 million and approximately $7.88 million worth of Binance USD was traded on exchanges in the last day.

Here’s how related cryptocurrencies have performed in the last day:

• KILT Protocol (KILT) traded 0.1% lower against the dollar and now trades at $0.18 or 0.00000317 BTC.
• Aidi Finance (BSC) (AIDI) traded down 2.2% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded 2.2% lower against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded down 2.2% against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded up 1.9% against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded 2.2% lower against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded 2.4% higher against the dollar and now trades at $0.0120 or 0.00000021 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Binance USD Token Profile

Binance USD launched on September 10th, 2019. Binance USD’s total supply is 69,511,448 tokens. Binance USD’s official message board is coinmarketcap.com/community/profile/busd. Binance USD’s official Twitter account is @binance and its Facebook page is accessible here. The official website for Binance USD is www.binance.com/en/busd.

According to CryptoCompare, “BUSD is a stablecoin issued by Paxos and supported by Binance. It is backed by U.S. dollar reserves held in insured U.S. banks, Treasury bills, and money market funds, and is regulated by the New York State Department of Financial Services. BUSD is issued on the Ethereum blockchain as an ERC-20 token and on the BNB Chain as a BEP-20 token, and can be used for hedging against volatility, stable price-pegging, remittances, crowdfunding, payments, lending, borrowing, and other financial services. Its value remains stable through fiat currency reserves, and traders can use arbitrage to bring it back to its peg if its price moves away from $1.”

Binance USD Token Trading

It is usually not possible to purchase alternative cryptocurrencies such as Binance USD directly using US dollars. Investors seeking to acquire Binance USD should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Binance USD using one of the exchanges listed above.

BUSD/USD price chart by TradingView