BUSD by the Numbers: Celebrating a 1 Billion USD Milestone

Binance USD (BUSD), the official US dollar-denominated stablecoin of Binance, has hit 1 billion USD in purchase volume just 260 days after it launched. Get to know more about the stablecoin’s fast growth in this article.

It’s been nine months since we launched BUSD. We’ve seen tremendous growth in terms of issuance, reach and use cases for this stablecoin. Several observers have pointed out that BUSD has grown its utility due to several factors, including increased traction in several countries such as Brazil, as well as the growing role of stablecoins in simplifying payments worldwide.

Here are some numbers that show the momentum of BUSD.

1,000,000,000: Amount of BUSD minted 

Reaching the 1 billion mark for minting or tokenizing a stablecoin, especially a USD-denominated one, is a milestone reserved for just a few leading stablecoins. BUSD has reached the 1 billion mark on May 28, and it has been the fastest stablecoin to do so. How fast? See below.

261: Days it took for BUSD to hit 1 billion USD in purchase volume

From the time we minted the first BUSD, on September 10, 2019, to the one-billionth token, BUSD has grown its minting volume pretty well. How much growth did we see? Here’s a chart below.

208,000,000: USD market cap for BUSD at its peak

Reflecting its growing user base, BUSD’s market cap 200 million USD ranked in the top 4 of the global stablecoin market. This market cap is driven by, among other factors, large daily volumes of purchases and redemptions, as well as good liquidity on Binance and other markets.

35: Days it took for BUSD market cap to jump 2x 

On March 13, BUSD surpassed 100 million USD in market capitalization. This is an achievement in itself, but what amazed us was that it took just one month and a few days to reach 2x that market cap amount, which we hit on April 17.

60+: Notable crypto platforms that use BUSD

Aside from managing token economics, one more thing that the BUSD team has achieved is growing the usability of BUSD in many platforms. Right now, you can use BUSD in services such as exchanges, crypto wallets, decentralized finance (DeFi) protocols, payment and fiat gateways, etc.

24: Exchanges that list BUSD

A big factor in achieving the numbers above is the growing acceptance for BUSD in more exchanges. Since day one, we have worked with various exchanges, which have graciously supported our stablecoin alternative. Of course, it helps our case when the stablecoin we’re offering is fully regulated by the New York State Department of Financial Services (NYDFS) and verifiably backed by 1:1 US dollar reserves.

7+: Main use cases we have seen for BUSD 

Stablecoins plays an important role in transactions because they vary less than the typical cryptocurrency when it comes to price movements. Right now, you can:
  1. Transfer your digital dollars (BUSD) anywhere in minutes, with low cost and on the blockchain.
  2. Trade BUSD on different exchanges, both centralized and decentralized, like Binance and Binance DEX.
  3. Deposit BUSD to earn an interest rate, through Binance Savings
  4. Pay BUSD as payment for goods and services.
  5. Use BUSD as collateral and loan asset in 
  6. Use BUSD as cross collateral on Binance Futures.
  7. Store BUSD on an exchange or in a wallet.
This is just a preliminary list of main uses, and that’s just mostly within the Binance ecosystem. We trust that the bigger crypto community can find more beneficial use cases for our stablecoin, as we continue to enhance the product.

155,000: Number of users holding BUSD on Binance

Ultimately, BUSD reached all the milestones above because of the support of our Binancians, especially those who continue to hold BUSD inside their Binance accounts, as well as thousands of others who use it outside Binance. We shall continue to work hard to give more use cases and milestones for our stablecoin.

Japanese Globalway Company Establishes Economic Sharing Protocol and Launches IEO

TimeCoinProtocol is a new project built by TimeTicket that makes use of blockchain know-how to create a decentralized sharing economic climate platform. This answer is powered by the TimeCoin token (TMCN), the original EOS-based token that is used both for bills in decentralized packages that are built centered on protocols and for the allocation of prizes to assisting Structures. TimeTicket's parent manufacturer is the Japanese generation group Globalway Inc., which has more than 50 million clients and is listed on the Tokyo Stock Exchange.

Starting Point - TimeTicket, Service with 250,000 Users

TimeCoinProtocol will make it possible for customers of economic sharing programs to migrate from one service to another while protecting all your Richly deserved personal records and Fame. This also makes it attractive for dApp builders to adopt, because it allows them to offer their services to a much better group of customers who are attracted by the entire dApps environment than they each can get it themselves. The protocol has actually been followed by the improvement team's services. The first two dApps of the many estimated to use TMCN are TimeTicket and eSportStars.

TimeTicket is Japan's shared economic market with more than 250,000 registered Customers. The market currently incorporates an as a middleman between people who want to provide services by selling their own time and people who want to buy this service from them. TimeTicket will use TimeCoinProtocol to offer a new decentralized market with peer-to-peer interaction directly and without intermediaries. The brand collected more than $ 3 million USD from buyers and its profits have hot temperatures more than 20 times over the past 3 years.

New eSports service

eSportStars is a new service that allows Gamers, streamers, and esports fanatic to easily find people to play, buy, and promote competition tickets and win TMCN tokens. Out there in Japanese, English and Chinese language, eSportStars will enter the shortly developing global esports market with the help of a professional esports team. Official teams that have signed up for this service include Japan's first female professional sports team JapanKillerAngel who specializes in games such as PUBG and Valorant, GameWith who specializes in Fortnite and Super Ruin Bros, and Japan's most famous Tekken player, TeamYAMASA.

The developer of TimeCoinProtocol plans to launch an Initial Exchange Offering (IEO) for TMCN tokens on BitForex. The time table for IEO will soon be introduced by the exchange. The initial TMCN token furnish was set at 100 million.

The TimeCoinProtocol team also plans to announce activities where supporters such as community members can acquire tokens based mostly on their contribution to the project. This activity will be introduced on the project Telegram channel so be sure to follow it for updates.

To learn more about TimeCoinProtocol and follow the upcoming TMCN token Opinions, visit www.timecoinprotocol.com and join for updates via email, Telegram or Twitter.

Buy Your Bitcoin on Bitcoin.co.id

Bitcoin is a digital currency that is based on internet networks, used by certain parties with a confidentiality guaranteed identity in the protection of a proven blockchain system. However, this does not make cryptocurrency minimal risk.

Where to Buy and Sell Bitcoin, USDT, and Cryptocurrency

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Crypto assets are digital currencies built on Blockchain technology. Cryptocurrencies can be sent around the world without limits, just like sending an email.

What is Bitcoin.co.id?

Bitcoin.co.id is a platform to buy and sell Bitcoin, USDT, and Cryptocurrency online quickly and easily. Bitcoin.co.id itself is one of the products issued by Indodax.

You can also buy and sell Bitcoin, USDT, Ethereum, Ripple, Litecoin, Dogecoin, Tron, Tokenomy, Waves, OKB, and other crypto assets with Rupiah easily on Bitcoin.co.id.

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How to buy Bitcoin on Bitcoin.co.id

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How do you determine buying and selling prices on Bitcoin.co.id?

The system of buying and selling prices on Bitcoin.co.id runs automatically based on the movements of Bitcoin prices in Indonesia. The Bitcoin.co.id system will try to get the best price for your transactions.

Can an Indodax account be used on Bitcoin.co.id?

Your Indodax account can be used to transact on Bitcoin.co.id and vice versa.

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Warning! Digital Asset Trading is a high-risk activity. Digital Asset Prices are very volatile, where prices can change significantly over time. Please use extra consideration in making the decision to buy or sell Digital Assets. Coin Crypto Asia does not force users to buy or sell Digital Assets, as investments, or for profit. All Digital Asset trading decisions are independent decisions by users.

Bitcoin Price in Q3-Q4 2020

In the previous article, we already wrote about Market Analysis & Bitcoin Price Q1-Q2 2020. BTC has outperformed the stock market so far in 2020. 

A strong recovery since mid-March has brought BTC prices back to the same level as in February this year. Monetary policy that continues to grow also serves to galvanize many of the biggest supporters of cryptocurrency. However, many people believe that Bitcoin is not a safe haven role due to its high correlation with the stock market during the stock market sell-off period.

Bitcoin volume is slowly showing an upward trend

The average weekly trading volume tends to fall since Bitcoin returned to the level of $ 10,000 in early May. The trend in the first half of 2020 is still going up, but there is no certainty whether this trend will continue or not because the market still looks stagnant. The second half of 2020 is likely to be marked by a decrease in trading volume, as we saw at the beginning of the second semester of 2019.

Market mash looks scared

If we look back at the first half of 2020 from the perspective of market sentiment, we can see a clear trend. Except for the February spike and a few minor spikes in May, market sentiment remains below the neutral zone and the 'fear' zone this year. Less than 25% of the first half of 2020 market sentiment shows ‘greedy’, which means; Uncertainty and fear in the market almost dominated the first half of 2020.

Different hype for Bitcoin and Ethereum in 2020

Google search trends show that Bitcoin and Ethereum had two different hype periods during the first half of 2020. When Bitcoin search interest hit its highest level when the market dropped in March, Ethereum's search interest peaked in mid-February, when ETH prices rose rapidly. The name Bitcoin also re-emerged when Bitcoin halving occurred in May, but did not exceed the level in March.

In addition, one thing that is also interesting is that Ethereum's search interest is still quite high. This happened after the market recovered and throughout the second quarter of 2020. This was likely due to increased interest in DeFi. On the other hand, interest in searching for Bitcoin fell again after halving in May 2020. At present the level of interest in searching for Bitcoin has returned to the same level as in early March.

Warning! Digital Asset Trading is a high-risk activity. Digital Asset Prices are very volatile, where prices can change significantly over time. Please use extra consideration in making the decision to buy or sell Digital Assets. Coin Crypto Asia does not force users to buy or sell Digital Assets, as investments, or for profit. All Digital Asset trading decisions are independent decisions by users.