BUSD’s market cap is down by nearly $14 billion from its all-time high of $23.49 billion, set on Nov. 15, 2022. Binance USD’s market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD’s market cap has been on a steep downward trajectory since its all-time high market cap of $23.49 billion, which it hit on Nov. 15, just a few days after the shock collapse of FTX.