Data: The proportion of USDC in the currency security reserve rose to 55.78%, about 1.877 billion

On February 22, Nansen data showed that among the current reserves of nearly $3.372 billion, the proportion of USDC rose to 55.78%, about 1.877 billion; However, the reserve of BUSD in Coin Anzhong is only 57.3263 million.

Interpretation of this information:

The message highlights the recent development in the cryptocurrency market where Nansen data shows that the USDC has emerged as the top choice for reserve funds among different cryptocurrencies. As per the report, the current reserves of $3.372 billion have a 55.78% share of USDC, which amounts to approximately $1.877 billion. In contrast, the reserve of BUSD in Coin Anzhong is relatively low, with only $57.3263 million.

This trend can be attributed to the growing popularity of stablecoins, which are designed to minimize the volatility of cryptocurrencies by pegging their value to a stable asset, such as a fiat currency. As more companies and organizations start accepting cryptocurrencies as a mode of payment or investment, stablecoins have gained attention for their stability and security. USDC, in particular, has gained significant traction because of its association with Coinbase, a leading cryptocurrency platform.

Another reason for USDC’s popularity could be its compliance with financial regulations. Unlike decentralized cryptocurrencies like Bitcoin, stablecoins have a centralized issuing authority, making them easier to regulate and integrate with the traditional financial system. USDC is issued by Circle, a company approved by the US government’s Financial Crimes Enforcement Network (FinCEN), which ensures compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.

In contrast, BUSD, issued by Binance, may still be building trust and credibility in the market, as it is relatively new compared to other stablecoins. Additionally, Binance has faced regulatory scrutiny in the past, which may have deterred some investors from using BUSD.

In summary, the message suggests that USDC has become the top choice for reserve funds in the cryptocurrency market, with a share of 55.78% in the current reserves of $3.372 billion. This trend may be due to USDC’s stability, association with Coinbase, and compliance with financial regulations. On the other hand, BUSD’s reserve in Coin Anzhong is relatively low, which may imply that it is still building credibility and facing regulatory challenges.