In an ongoing emerging cryptocurrency scene, a new opponent quickly climbed the rankings: it was USD1, the US dollar stablecoin launched by World Liberty Financial (Wlfi) and supported by the president Donald Trump.
In just two months since this debut, USD1 has reached a market capitalization of more than 2.2 billion dollarsbecomes Seventh largest stablecoin in the world.
USD1: An explosive growth within a few weeks for Stablecoin supported by Trump
Launched at the beginning of March with the initial offer of Just 3.5 million dollarsUSD1 has experienced meteoric increases.
According to the data from CoingeckoStablecoin market capitalization is derived 128 million dollars over 2.1 billion dollars Within just two days by the end of April, marked the rise of 1,540%.
This sudden jumping occurred several days before the announcement of a $ 2 billion investment investment investment MGXBased on Abu Dhabi.
Making the announcement even more significant is the fact that it is conveyed by Eric TrumpThus emphasizes the direct link between the Trump family and the USD1 ecosystem.
One of the most with -the -essay aspects of Stablecoin USD1 is its Almost exclusive release on the BNB chainthe blockchain supported by Binance.
According to the data from BSCSCAN, Over 99% of the total supply of USD1 – equivalent to about 2.1 billion dollars – is issued to Bep-20 BNB chain network.
On the other hand, the Ethereum-based version (ERC-20) represents only a small portion, with the value of about 14.5 million dollarsAccording to Olerscan.
This technological option allows USD1 to benefit from lower transaction fees and bigger speedCharacteristics that are likely to contribute to the rapid adoption of users.
In its recent climb, USD1 has exceeded some established stablecoins such as First digital USDPaypal USD (PIUSD), and Tether gold. Thus earn a place in the middle of the top ten stablecoins by market capitalization.
However, it is still far from sector giants such Tether's usdt and USDCthat boasts 149 billion dollars and 61 billion dollars In capitalization, respectively.
Despite this, the speed at which USD1 reached the seventh global position shows a significant potential growth. Especially if supported by additional political and financial initiatives.
HTX Among the first exchanges that list USD1
The increasing USD1 has not been detected in the world of exchanges. The first exchange to list stablecoin is the HTX, previously known as Huobi and closely linked to the founder of Tron, Justin Sun..
On May 6, HTX announced the USD1 list included Zero-Fee retreats On the BEP-20 network. This is made one of several centralized exchanges to support the token.
Currently, USD1 is primarily available at Decentralized exchange Like Pancakeswap and Uniswap. However, having it in CEX such as HTX can mark the beginning of a wider institutional adoption.
Another interesting element has to do with the origin of investments in USD1 and WLFI.
According to a survey conducted by the founder of V1PS, Notaz.solAbout 90% of WLFI investors Awesome Couples non-US. Among them are Europe, Asiaand Latin America.
A report of Bloomberg On May 7 was expressed as well More than half of Trump-Branded Memecoin's main holder living outside the United States.
This data suggests a strong international interest in projects related to the Trump brand in the cryptocurrency sector. The increasing USD1 fits perfectly with wider Pro-stablecoin agenda Donald Trump promotes.
In January, in fact, the President signed an executive command titled “Strengthening American leadership with financial technology. “It aims to combine the role of the United States with the cryptocurrency and stablecoin sector.
Although WLFI is often associated with Binance, both the Trump and the Exchange Platform have Declined any direct link or formal agreement between the parties.
However, the choice of issuing the USD1 almost exclusively to the BNB chain has filed a thought about a possible strategic collaboration.
The future of USD1
Through a rapidly growing market capitalization, the support of leading political figures, and increasing adoption of exchanges and international investors, USD1 establishes itself as a The emerging force in the stablecoin market.
It remains to be seen if it is to manage to bridge the gap in giant industries such as the USDT and USDC. However, the signals are clear: USD1 is set to Play an increasingly key role In the cryptocurrency ecosystem.
Especially in a political and financial context that seems more interesting to expand it.
