DAI overtakes BUSD in stablecoin market capitalization amidst regulatory challenges.

Binance USD (BUSD) stablecoin has fallen to the fourth position in market capitalization among stablecoins after a dip of over $1 billion in the past 30 days. BUSD's market cap stands at $4.30 billion, down 29% from $5.54 billion on May 18. The decline in BUSD market cap parallels major developments surrounding Binance following FTX's dramatic collapse in November 2022. Tether's USDT, on the other hand, is gaining traction with a market dominance of 65.89% in May, up from 47.04% a year ago.