Redemption and Reshuffling: BUSD's Exit From Top 10 Cryptocurrencies Shakes Market Valuations.
07 Mar 2023, 08:00
Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten cryptocurrencies by market valuation have changed since the redemptions. Presently, there are only two stablecoins in the top ten standings, and the Okx exchange token, OKB, has joined the pack.
2023 Records Changes in the Top 10 Cryptocurrencies by Market Capitalization