- BUSD has shed bigger than 50% of its market cap since maxing out at its all-time high of $23.4 billion.
- BUSDâ€™s market cap is in freefall, and there could be currently no blueprint for it to flip around.
- In spite of regulatory stress on Stablecoins within the U.S., assorted Dollar-pegged tokens are gaining market cap fragment.
Following the SECâ€™s issuance of a Wells survey to BUSD issuer Paxos, and subsequent query to quit minting the stablecoin, BUSDâ€™s market cap has been in freefall.
BUSD reached a height market cap of $23.3 billion on November 16, 2022, following a fixed upward trajectory after its inaugurate in September 2019. Nevertheless, its market cap has dropped to $9.6 billion at publishing as tokens continue to be burned in gentle of the SECâ€™s ruling.
The standard stablecoin…