Naira Trades At NGN 1,568.50/1 BUSD On Binance For February 23

The naira was trading at NGN 1,568.50 per 1 BUSD on Binance, early on Friday Morning, February 2024.

According to Coinbase, with a circulating supply of 84,511,447.778 BUSD, it means that Binance USD has a total market cap of NGN 132,554,796,958.78. 

The amount of Binance USD traded has fallen by NGN 8,257,717,685.08 in the last 24 hours, which is a 21.69% decrease apparently following new restrictions being applied by the Nigerian government.

Additionally, on the last day, NGN 38,076,372,395.70 worth of BUSD has been traded.

Naira’s trade on binance today, shows a significant improvement compared to Thursday, February 22, when the naira traded between N1680-N1710/$1 USDT. This situation was attributed to several reports of a crackdown on cryptocurrency trading, which some authorities view as a significant contributing factor to the rapid depreciation of the naira.

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