Binance USD’s (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange.
BUSD’s market cap has been on a steep downward trajectory since its all-time high market cap of $23.49 billion, which it hit on Nov. 15, just a few days after the shock collapse of FTX.
Market cap of Binance USD (BUSD) over the last 12 months. Source: CoinGecko.The largest stablecoins by market cap. Source: CoinMarketCap
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