Trump family-linked stablecoin USD1 tops $50 billion Binance trading volume
Darkfost said the World Liberty Financial token has passed the milestone, though a $2 billion institutional settlement tied to Binance's investment may have skewed issuance data.
USD1, the dollar-pegged stablecoin launched by World Liberty Financial, has surpassed $50 billion in cumulative trading volume on Binance roughly a year after its debut, according to on-chain analyst Darkfost. Darkfost said the total should be viewed cautiously because a $2 billion institutional settlement transaction tied to Binance's investment represented a significant share of new issuance and may have distorted the current figures. Even so, weekly trading volume on Binance has been holding between about $750 million and more than $2 billion, which Darkfost said points to steady growth in actual usage. Given Binance's large share of stablecoin trading, the trend suggests meaningful expansion for the token. USD1 was launched in March last year by World Liberty Financial, which was co-founded by U.S. President Donald Trump's family.
- stablecoin: A crypto token designed to maintain a fixed value, typically by tracking the U.S. dollar.
- on-chain analyst: A market researcher who studies blockchain and related trading data to identify usage and market trends.
- issuance: The creation and release of new tokens into circulation.