Trump-backed USD1 is now the seventh-largest stablecoin worldwide

Quick Summary:

Launched in early March with a $3.5 million supply, USD1 has expanded into a market cap of $2.2 billion at the time of writing, leaving rival stablecoins First Digital USD (FDUSD), PayPal USD (PYUSD) and Tether Gold (XAUT) behind, according to data from CoinGecko.

Source: CoinGeckoAlthough rising fast, the USD1 market cap is still far from the market value of major stablecoins like Tether’s USDt (USDT) and USDC (USDC), whose market caps are worth $149 billion and $61 billion, respectively.

According to data from BscScan, as much as $2.1 billion of all USD1 supply is issued on BNB Chain, accounting for more than 99% of its total circulating supply, while an Ethereum-based version accounts for just $14.5 million, according to Etherscan.

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Article Details

Author / Journalist: Cointelegraph by Helen Partz

Category: Crypto

Markets: United States

Topics: Million Usd1 Stablecoin Wlfi According Trump Days Trump-backed Market Investment Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 13:45:22 (3 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 492 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28485780

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Official Website: cointelegraph.com

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