Binance’s Stablecoin Hits All-Time High Market Share Of 15.48%

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Changpeng Zhao; Photo Source: CNBC

The overall market share of Binance and Paxos-backed stablecoin, BUSD, hit a record-breaking 15.48% on Friday. The token’s market supply currently hinges at the $21.76B mark, up by $6B since the beginning of 2022.

BUSD's market cap. Source: CoinGecko

BUSD’s market capitalization grew 22% within the last two months.

FTX’s CEO, Sam Bankman Fried, referenced this development in his recent tweets. 

According to him, this signals the start of the "Second Great War of Stablecoins." He claimed that his exchange is among the largest “unaligned players” in the stablecoin market and noted,

“It'll be interesting to see what emerges from the non-fiat-backed-stablecoin space, post-Luna and post-DAI-holding-USDC.”



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In September, Binance announced its plans to convert users’ USD Coin (USDC), Pax Dollar (USDP), and TrueUSD (TUSD) assets into $BUSD. The exchange also ended support for the three stablecoins starting September 29, citing this change would “enhance liquidity and capital-efficiency for users.”

Currently, BUSD is the third largest stablecoin behind USDT and USDC.

Written by
Ayush Pande

The overall market share of Binance and Paxos-backed stablecoin, BUSD, hit a record-breaking 15.48% on Friday. The token’s market supply currently hinges at the $21.76B mark, up by $6B since the beginning of 2022.

BUSD's market cap. Source: CoinGecko

BUSD’s market capitalization grew 22% within the last two months.

FTX’s CEO, Sam Bankman Fried, referenced this development in his recent tweets. 

According to him, this signals the start of the "Second Great War of Stablecoins." He claimed that his exchange is among the largest “unaligned players” in the stablecoin market and noted,

“It'll be interesting to see what emerges from the non-fiat-backed-stablecoin space, post-Luna and post-DAI-holding-USDC.”



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


In September, Binance announced its plans to convert users’ USD Coin (USDC), Pax Dollar (USDP), and TrueUSD (TUSD) assets into $BUSD. The exchange also ended support for the three stablecoins starting September 29, citing this change would “enhance liquidity and capital-efficiency for users.”

Currently, BUSD is the third largest stablecoin behind USDT and USDC.

Written by
Ayush Pande