Binance USD(BUSD) is recently gaining momentum as it goes further up the top 10 list of largest cryptos by market value. XRP, on the other hand, tumbled down the list after losing more than 8% of its value in just a span of 24 hours. BUSD is 100%, reserves-backed by both fiat cash in dedicated, insured omnibus accounts at U.S. banks1 and/or repurchase agreements and money-market funds invested in U.S Treasury bills.
Read CRYPTONEWSLAND onXRP, on the other hand, is a cryptocurrency that is developed by Ripple. It is mostly used by financial institutions for cross-border payments. XRP saw a massive sell-off in the past 24 hours, which caused it to tumble down the list of largest cryptocurrencies by market value. BUSD, on the other hand, continued to gain momentum and is now the 6th largest cryptocurrency in the world by market value.
The recent move by the BUSD shows that there is a growing demand for stablecoins, which are cryptocurrencies that are pegged to a fiat currency or some other asset. This is because they offer investors a way to hedge against the volatility of the crypto markets.
With its growing popularity, BUSD is quickly becoming a viable alternative to other stablecoins such as Tether (USDT) and USDC. Its low fees and fast transaction times make it attractive for both traders and businesses.
It will be interesting to see how these two cryptocurrencies perform in the future. It is possible that XRP could stage a comeback and reclaim its place as one of the largest cryptos by market value. However, it is also possible that BUSD could continue to gain traction and eventually overtake XRP. Only time will tell.
While #APT, #UNI, #OP, and #OSMO are attracting attention, the spotlight is on #CYBRO from…
#CYBRO embarks on a journey to redefine the #DeFi space with its innovative features and…
The most notable interest is in #BlastUP, a project gaining attention for its innovative concept…
🚀 Exciting News! @MoonPayHQ revolutionizes crypto buying with @PayPal integration, offering seamless access to 110+…
CYBRO's distinct approach as a yield #marketplace gives it an edge, and with the #bullrun…
Experts have singled out #BlastUp, #OP, and #APT as noteworthy #altcoins for #investors to keep…