DAI overtakes BUSD in stablecoin market capitalization amidst regulatory challenges.
TL;DR
Binance USD (BUSD) stablecoin has fallen to the fourth position in market capitalization among stablecoins after a dip of over $1 billion in the past 30 days. BUSD's market cap stands at $4.30 billion, down 29% from $5.54 billion on May 18. The decline in BUSD market cap parallels major developments surrounding Binance following FTX's dramatic collapse in November 2022. Tether's USDT, on the other hand, is gaining traction with a market dominance of 65.89% in May, up from 47.04% a year ago.
- BUSD falls to fourth position among stablecoins Cointelegraph
- Dai Flips BUSD To Become Third-Largest Stablecoin As Binance Stares Down Mounting Legal and Regulatory Setbacks The Daily Hodl
- 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
- View Full Coverage on Google News
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