Binance Increases USDC Holdings as BUSD's Market Cap Slides Lower – Bitcoin News

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The Nansen researcher also noted there's $1.8 billion $USDC in Binance's main wallet today, the highest it has been in 90 days.

Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest cryptocurrency exchange by trade volume, has increased its usd coin holdings by $1.5 billion over the last seven days.

on Tuesday. Lee further detailed that Binance saw a $1.5 billion increase in USDC in the last seven days.

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