The news headlines with the announcement that it will automatically convert users' USDP, USDC, and TUSD stablecoins into Binance's proprietary BUSD stablecoin. Critics alleged that Binance was trying to gain an advantage over its competitors that issued the other stablecoins.
However, Binance officially maintains that the move to convert users' stablecoins will increase liquidity and enhance the customer's trading experience. Regardless of who we believe in this situation, we must answer several important questions. What is liquidity, how does liquidity work, and why is liquidity so important for cryptocurrency traders? #crypto #defi #binance
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