Despite this setback, Binance is still one of the largest exchanges in the world and has a significant user base. However, the recent events have shaken investors' confidence, and many are now looking for alternatives, causing a significant outflow from theAs BUSD's market capitalization takes a hit, its competitor, Tether, has only seen an increase in its market cap since the beginning of BUSD's plunge.
Showing that the decline in the capitalization of Binance's stablecoin is not tied to the performance of the industry.The recent drop in the market capitalization of BUSD is a worrying sign for Binance and its users.
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