1 week ago
World Liberty Financial’s stablecoin USD1 surpassed $10 cardinal successful transportation measurement conscionable 10 days pursuing its listing connected Binance, according to data from Artemis.
From May 22 to June 1, the stablecoin traded $10.7 cardinal successful volume, surpassing the full transfers from its inception until May 21. The stablecoin is autochthonal to World Liberty Finance, a decentralized exertion backed by President Donald Trump and his family.
Weekly volumes had already accrued importantly successful mid-May. USD1 near the $307 cardinal traded betwixt May 12 and 18 to scope $4.3 cardinal the pursuing week, a 1,300% play increase.
Despite the existent week’s volumes not being finalized, USD1 has already registered astir $6.8 cardinal arsenic of June 1, astir 60% up from the erstwhile week. Furthermore, this marks a caller play record, surpassing the past all-time precocious measurement of $6.2 billion, which was registered betwixt April and May.
The expanding transportation volumes besides came 1 period aft USD1 became the sixth-largest stablecoin successful the market, surpassing $2 cardinal successful marketplace cap.
Action connected the Binance-related ecosystem
Notably, users transferred $1.1 cardinal connected Binance since the USD1 listing. The magnitude is astir fractional of the $2.3 cardinal traded connected PancakeSwap successful the past 30 days, according to Artemis’ data.
However, astir of USD1’s transaction measurement successful the past 30 days seems to travel from peer-to-peer (P2P) transfers.
Two addresses unsocial moved astir $3.3 cardinal during the period, trailing lone the USD1 and BUILDon (B) excavation astatine PancakeSwap. The excavation betwixt the stablecoin and the memecoin registered $143 cardinal successful the past 24 hours alone.
Although the stablecoin is disposable successful the Ethereum network, astir of the USD1 enactment happens connected the BNB Chain. The stablecoin proviso presently stands astatine $2.17 billion, with 98.4% of it concentrated connected the BNB Chain, according to DefiLlama.
This makes USD1 the second-largest stablecoin successful the BNB Chain ecosystem, bested lone by Tether USD’s (USDT) astir $6 cardinal successful marketplace headdress wrong the network.
The station WLFI’s stablecoin USD1 surpasses $10B successful transfers wrong 10 days of Binance listing appeared archetypal connected CryptoSlate.
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