Data: The supply of BUSD has decreased by about 18% in 6 days, and the market value of other stable currencies of Paxos has also decreased significantly

On February 20, according to statistics, 28.61 BUSDs have been withdrawn from the market in the past six days, that is, the supply has decreased by 17.77% during this period. In the past 30 days, the supply of BUSD has decreased by 19.2%. When Paxos, the issuer of stable coins, announced that no new BUSD stable coins would be issued, the current BUSD was 16.1 billion US dollars. According to Nansen’s exchange portfolio tool, as of February 19, Coin An currently holds 10.9 billion BUSD. The indicators show that of the 67.71 billion US dollars of global transactions of cryptoeconomy on the same day, BUSD still accounts for 7.24 billion US dollars, accounting for 10.7% of the total.

Interpretation of this information:

The message reports on the decreasing supply of BUSD stable coin in the market over a period of six days and 30 days. It notes that the drop in supply in the past six days was significant at 17.77%, with 28.61 BUSD withdrawn during this period. The decrease in supply over the past 30 days was even greater at 19.2%. The announcement by Paxos, the issuer of BUSD, that no new stable coins would be issued, contributed to the current supply standing at 16.1 billion US dollars. The analysis reveals that Coin An currently holds 10.9 billion BUSD in its exchange portfolio, indicating that BUSD still accounts for a considerable percentage of global transactions in the cryptoeconomy. Specifically, the BUSD accounted for 7.24 billion US dollars on the same day, which amounted to 10.7% of the total global transactions worth 67.71 billion US dollars.

The decreasing supply of BUSD stable coin can be interpreted as a sign of its growing popularity as demand for BUSD increases, reducing the available supply in the market. The decreasing trend in BUSD supply can also be attributed to Paxo’s announcement that no new BUSD stable coins would be issued, indicating an intentional approach by the issuer to regulate the supply of BUSD to meet growing demand. Coin An’s holding of 10.9 billion BUSD reveals the high level of trust and confidence that traders have in the BUSD stable coin.

Three keywords that can be summarised from this message are: BUSD, supply, and global transactions. The decreasing supply of BUSD stable coin and its continuous use in global transactions demonstrate its relevance and growing role in the cryptoeconomy. The increase in demand for BUSD also reflects a growing trend towards the use of stable coins in the crypto industry as traders seek to minimise volatility risks.