The decision made by Paxos to stop issuing Binance USD has had a negative impact on the price of Binance’s stablecoin, which has fallen to its lowest level since January 20.
Over the past 24 hours, the capitalization of the asset has fallen by more than 7% to stay at $45.84 billion.
BNB held above $315 last Sunday, but this morning it started to quickly become cheaper. It was the coin with largest losses in the top them of largest cryptos by market cap.
According to CryptoQuant experts, investors are selling BNB out of fear that the position of the stablecoin BUSD, also associated with Binance, will worsen in the near future.