Paxos-Issued Binance USD Stablecoin Market Cap Falls Below $10B After Coinbase Delisting

The daily trading volume for BUSD on Coinbase was only about $9 million in the last two months, while the market depth within 2% of the market price was just $600,000, according to data from Kaiko, making the stablecoin’s price vulnerable to wobbles. Market depth represents the open buy and sell orders for an asset within a certain price range; the deeper the market, the more stable the price is.

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