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Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

December 16, 2022


BUSD’s Supply Declined by 3.24 Billion Since Dec. 13

Amid the speculation surrounding Binance and the large number of withdrawals (over $3B) that took place on Dec. 13, 2022, the stablecoin BUSD has seen its supply reduced by 14.77% in a matter of three days. Over the course of the last month, stats show BUSD had 23 billion tokens in circulation, and today it is 20% lower at 18.58 billion BUSD coins.

The news follows News reporting on the Binance-associated and Paxos-backed stablecoin climbing 22% higher in two months on Oct. 22, 2022. It should be noted that while BUSD shares its logo and name with the crypto exchange Binance, the stablecoin is managed by Paxos.