BUSD in circulation, meaning that the 17.77% of BUSD redeemed accounted for 2.861 billion tokens being removed from the market.
Statistics from Glassnode show the supply at 13.43 billion while coingecko.com statistics show the supply at 13.23 billion. The blockchain intelligence firm Nansen has been monitoring the Paxos Treasury wallet, which sends millions of BUSD to the burn address, effectively removing the stablecoins from circulation. According to Nansen’s, Binance currently holds 10.9 billion BUSD as of Feb. 19, 2023. Metrics show that BUSD still accounts for $7.24 billion of the day’s $67.71 billion in global trade volume, which represents 10.7% of the total.
Binance dominates most of BUSD’s trading volume, with the stablecoin’s most popular trading pair today being tether (
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usdt
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