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Binance Ends Support for BUSD Stablecoin: What It Means for Users and the Future of Stablecoins

Binance, one of the largest cryptocurrency exchanges in the world, has made the decision to end support for its Binance USD (BUSD) stablecoin. This move comes after Paxos, the company responsible for minting new BUSD coins, announced that it would be halting its operations. The transition is set to take place on December 15th, and it will have significant implications for users of the BUSD stablecoin. Automatic Conversion to First Digital USD Starting on December 31st, many users' BUSD balances on Binance will be automatically converted into First Digital USD. This conversion will take place seamlessly, and users will not be required to take any action. The transition is designed to ensure a smooth and uninterrupted experience for BUSD users. Implications for BUSD Users While the automatic conversion should minimize any disruption for BUSD users, it is important for them to be aware of the implications of this change. Once their BUSD balances are converted into First Digital US

Bitcoin and Ethereum Surge, Bitcoin SV Tops Gainers, GMX Faces Biggest Loss

Bitcoin and Ethereum Surge, Bitcoin SV Tops Gainers, GMX Faces Biggest Loss

Bitcoin (BTC) and Ethereum (ETH) continued their upward momentum on Monday, with both cryptocurrencies trading at higher levels. BTC surpassed the $28,000 mark, while ETH rose above $1,700. Meanwhile, Bitcoin SV (BSV) emerged as the top gainer in the past 24 hours, while GMX experienced the biggest loss. The global crypto market cap increased to $1.12 trillion, recording a 2.8% gain in the last 24 hours. BTC traded higher by 4.2% at $28,338, while ETH rose by around 2.5% to $1,730. Let's take a closer look at the top ten crypto gainers and losers during this period.

Top Gainers:

  1. Bitcoin SV (BSV): Bitcoin SV emerged as the top gainer, showing a significant increase in value over the past 24 hours. The exact percentage gain is not mentioned in the prompt, but it is worth noting that BSV has performed well during this period.

Top Losers:

  1. GMX: GMX turned out to be the biggest loser in the last 24 hours. Unfortunately, the prompt does not provide specific details about the percentage loss experienced by GMX.

It is important to mention that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Investors should carefully consider their risk tolerance and do thorough research before making any investment decisions.

In conclusion, Bitcoin and Ethereum witnessed positive price movements, with BTC surpassing $28,000 and ETH rising above $1,700. Bitcoin SV performed well as the top gainer, while GMX faced the biggest loss. The global crypto market cap also saw an increase, reaching $1.12 trillion. As the crypto market continues to evolve, it is crucial for investors to stay informed and make informed decisions based on their individual investment strategies.


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