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Paxos Halt of BUSD Stablecoin Issuance Derails Binance Strategy for Global Dominance, With Tether’s USDT, Circle’s USDC, Maker’s DAI as Likely Gainers

Altszn.com by Altszn.com
February 13, 2023
in Blockchain, Crypto, DeFi, Web3
0
Paxos Halt of BUSD Stablecoin Issuance Derails Binance Strategy for Global Dominance, With Tether’s USDT, Circle’s USDC, Maker’s DAI as Likely Gainers
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In the largest BUSD pool on decentralized finance (DeFi) protocol Curve, where traders can swap between stablecoins, traders almost depleted the USDT, USDC and DAI liquidity. Now, 85% of the pool’s liquidity is BUSD, making it difficult for traders to exchange large amounts of BUSD, and forcing sellers to accept losses at the discounted exchange rates. At current rates, a trader exchanging 10,000 BUSD will receive 9,982 USDT.



Read More: www.coindesk.com

Tags: BinanceBUSDCirclesdaiDeFiderailsdominancegainersGlobalhaltissuanceMakersPaxosstablecoinstrategyTethersUSDCUSDT
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