Home
News
- In February, the United States Dollar Coin (USDC) lost ground to Binance United States Dollar (BUSD), which had a 51 percent rise in actual volume over USDC.
- In contrast to USDC, the TRV has dropped by 89 percent since January 2022, with BUSD currently trading at $682 billion.
According to Be[In]Research, USDC had a rough month in February, bringing in around $49 billion in actual volume. While the amount is significant in comparison to other stablecoins, the TRV for USDC and BUSD was down $1.2 trillion — a shocking 90% drop in TRV since January 2021.
USDC fell by $611 billion
Aside from the USDC’s rising TRV, its single-day high was still 11% higher than the previous high in February.
The single-day high in TRV was $3.7 billion last month, compared to $3.3 billion in February 2021.
While USDC had a volume of $49 billion in February, Binance USD (BUSD) had a volume of over $74 billion.
In contrast to USDC, the TRV has dropped by 89 percent since January 2022, with BUSD currently trading at $682 billion. Its TRV also fell by 25% year over year in February, compared to $99 billion the previous month.
Do traders prefer BUSD?
Tether (USDT) is the most valuable stablecoin by market capitalization, and it is the second most valuable stablecoin by market capitalization as of press time. However, according to TRV metrics, BUSD looks to be the overwhelming favorite following USDT as of February.
USDC increased by 0.91 percent vs BUSD in January, with 51 percent more actual volume than USDC.
Transactions are important. And what is the typical transaction volume? According to, the polar opposite in terms of real numbers might be attributed as crucial attributes for luck. [In]Crypto Research is a term that refers to the study of cryptography. According to estimations, USDC had over 1.1 million transactions in February 2022, whereas BUSD had over 22,000 transactions.
ALSO READ – Binance Now Plans To Extend Its Services In Russia Its Adjacent Countries!
Stablecoin demand would have been unaffected by the drop in real volume over the previous month. USDC’s TRV has increased by 23 percent since February of last year, to $39.7 billion.
On February 24, both stablecoins saw record-breaking single-day transaction volumes, coinciding with Russia’s unprovoked invasion of Ukraine on the same day, causing crypto prices to plummet worldwide.
The market’s negative outlook has boosted demand for stablecoins. The total number of transactions for USDC and BUSD were 74,568 and 1,388 correspondingly at the conclusion of the day. As a result, the average transaction value for USDC on that day was $150,000, as shown below.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
