BNB Whales Dump Millions of BUSD Amid Stablecoin Market Shake Up

Binance USD (BUSD) tokens have been subject to a significant sell-off by major whales on the BNB Chain, as the cryptocurrency market experiences a seismic shift in the stablecoin arena.

Timeline of Bnb, Binance-usd

As the broader cryptocurrency sees most coins registering high gains, BNB is among those with a notable price increase. The token has recovered all past weeks' losses and shows parallel gains from the 30-day to the hourly price increase.

Binance – the world's largest cryptocurrency exchange – announced that it has converted the BUSD stablecoin it its SAFU fund. The Secure Asset Fund for Users (SAFU) was launched by the exchange back in 2018 as an emergency insurance fund in order to protect users.

Binance News: Back on January 29, 2022, Binance unveiled the “Secure Asset Fund for Users (SAFU), which is an emergency insurance fund valued at $1 billion to safeguard its users from any catastrophic event. The SAFU fund wallets were initially stocked with BNB, BUSD, and BTC.

Considered the world's largest Decentralized Exchange (DEX), Uniswap's V3 has now been deployed on the BNB Chain. According to its 15 March disclosure, the integration would allow tokens under the Binance-founded smart contracts blockchain to be swapped on Uniswap's platform.

Following the issuance of a Wells Notice from the Securities and Exchange Commission (SEC) to Binance USD (BUSD) issuer Paxos, the stablecoin has taken a hit in the market. Its market cap plunged rapidly as the firm was ordered to stop issuing new tokens and redemptions of the stablecoin surged.

The value of the binance coin (BNB) is now rising amid a general downtrend in altcoins. BNB was trading at $329 at press time, a gain of 8.7% from its previous closing price over the last 24 hours.

It's been a big week for BNB, the cryptocurrency that power's the Binance Smart Chain. After tumbling to two-month lows late last week in the mid-$260s amid generalized risk-off across asset classes amid concerns about US bank failures, BNB has seen a stunning rebound.

The decentralized exchange Uniswap has officially launched its services on the BNB Chain network.  BNB Chain Welcomes Uniswap The world's largest decentralized exchange has officially launched its services on the EVM-compatible smart contract blockchain, BNB Chain.

Binance Coin [BNB] reacted extremely positively over the past two days of trading. The bullish euphoria over Bitcoin's gains translated across the crypto-market and BNB gained by 20.5% within four days.

Uniswap, the world's largest decentralized exchange protocol measured by trading volume, has officially debuted on BNB Chain. This decision was made following a controversial round of governance talks in February to decide on a bridge solution for the deployment, which later got successfully approved by the majority of governing members of the protocol.