BUSD Market Cap Plunge Of 80% Raises Concerns Of Impending Collapse

The fate of Binance USD (BUSD), the stablecoin introduced by Binance, hangs in the balance as its market capitalization has experienced a significant decline of over 80% in 2023. From November 2022 to June of the current year, BUSD’s market capitalization has plummeted from USD23 billion to USD4 billion. Notably, the capitalization suffered an 18% loss in May alone, as reported by CCData, an analysis company. TrueUSD (TUSD) Gains Traction As BUSD Market Cap Declines As the market capitalization of BUSD continues to decline and reach a critical level, representing less than 5% of the overall stablecoin market capitalization, Binance