DAI overtakes BUSD as third-largest stablecoin amidst regulatory challenges.
TL;DR
Dai, the stablecoin issued by MakerDAO, has surpassed Binance USD (BUSD) to become the third-largest stablecoin in the world, with a market cap of around $4.39 billion, while BUSD clocks in at $4.3 billion. Binance, the world’s largest crypto exchange platform by volume, is facing mounting legal issues and regulatory setbacks, including a lawsuit by the SEC for allegedly selling unregistered securities. Meanwhile, MakerDAO has voted to raise the savings rate of DAI from 1% to 3.49% starting June 19th.
- Dai Flips BUSD To Become Third-Largest Stablecoin As Binance Stares Down Mounting Legal and Regulatory Setbacks The Daily Hodl
- BUSD falls to fourth position among stablecoins Cointelegraph
- DAI Emerges as Third-Largest Stablecoin, Overtaking BUSD in Market Capitalization – Bitcoin News Bitcoin News
- Stablecoin Race: DAI Surpasses BUSD Amid Binance-SEC Regulatory Row CryptoPotato
- MakerDAO Hikes DAI Savings Rate, Ousts Paxos Dollar, Curbs Gemini Dollar in Reserve CoinDesk
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