Top 3 Market Volume Tokens on Binance Smart Chain (BSC)
- USDT is a stablecoin issued by Tether.
- BUSD is a 1:1 USD-backed stable currency produced by Binance.
Binance Smart Chain (BSC) is a DeFi platform alternative to Ethereum. Furthermore, BSC gained popularity when Ethereum lost an appeal to people unable to pay the fees. BSC was announced in September 2020 by cryptocurrency exchange Binance.
BSC is like Ethereum, but not the same. Unlike Ethereum, BSC utilizes delegated proof of stake consensus, enabling it can execute more transactions per second at a cheaper cost. See the top three Binance Smart Chain tokens by volume.
Tether (USDT)
USDT is a stablecoin (stable-value cryptocurrency) issued by Tether, a Hong Kong-based corporation. This is accomplished by keeping in reserve an amount of commercial paper, fiduciary deposits, cash, reserve repo notes and treasury bills equal to the quantity of USDT in circulation.
Moreover, US Dollar Token (USDT) aims to combine the freedom of cryptocurrencies (which may be transferred between users without a trusted third-party middleman) with the dollar’s stability.
Furthermore, Tether ensures that USDT’s value remains linked to the US dollar. As a result, Tether claims that each new USDT token is backed by an equal amount of USD in its reserves, guaranteeing that USDT is completely collateralized.
According to CoinMarketCap, the Tether price today is $0.999492 USD with a 24-hour trading volume of $65,247,967,665 USD.
Ethereum (ETH)
With its coin, Ethereum is decentralized open-source blockchain technology. Moreover, ETH is a platform for several other cryptocurrencies and decentralized smart contracts.
In the summer of 2014, Buterin and his co-founders raised funds for the project via an online crowd sale. Furthermore, the project team raised $18.3 million in Bitcoin, and over 60 million Ethers were sold in the ICO.
Ethereum invented the blockchain smart contract idea. Smart contracts are computer programs that automatically perform activities required to fulfil an online agreement. A trusted intermediary between contractors is eliminated, lowering transaction costs while improving transaction dependability.
According to CoinMarketCap, the Ethereum price today is $3,514.78 USD with a 24-hour trading volume of $14,624,574,482 USD.
Binance USD (BUSD)
Binance USD (BUSD) is a 1:1 USD-backed stable currency produced by Binance (in collaboration with Paxos). Furthermore, the BUSD Monthly Audit Report is available online.
It’s a BEP-2-compatible ERC-20 token. Stablecoin is used in transactions, payments, and settlement, and Decentralized Finance (DeFi).
According to CoinMarketCap, the Binance USD price today is $0.999106 USD with a 24-hour trading volume of $4,415,682,153 USD.
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