The introduction of stablecoins, like BUSD into cryptocurrency brought hope to many long-term investors. For those skeptical of the crypto space due to volatility, stablecoins become handy as their sailing means. As the name goes, stablecoins are meant to remain stable to the real-time value of the fiat currencies they are pegged to. Also, some come pegged to tangible assets and cash that facilitate their stability. But the collapse of the algorithmic stablecoin, TerraUSD UST, and its native token, LUNA, created a big hollow for stablecoins. It shifted the paradigm for lots of investors on what stablecoin stands for. The event brought massive losses to many investors and other crypto assets. Related Reading: Bitcoin Diamond Hands: Long-Term Holder Supply Surges Up To Near ATH Thankfully, people have started warming up to stablecoins again lately. The Binance USD (BUSD), the world’s third largest stablecoin, is significantly impacting the crypto space. BUSD recorded a massive increase of about 70% on Tuesday in its trading volume. It remains the most considerable 24-hour trading volume recorded in recent times. Binance Announcement Triggered BUSD Trading Volume The sudden spike in trading volume for BUSD has raised lots of interest as people are looking for the potential trigger. The reason is not far-fetched, as Binance recently made a big public announcement. Binance is laying out BUSD Auto conversion. At the moment, th...
SEC Hosts First-Ever Crypto Roundtable Today
