World Liberty Financial’s Stablecoin USD1 exceeded $10 billion in transfers just 10 days after Binance’s list. data From Artemis.
From May 22nd to June 1st, Stablecoin traded $10.7 billion in volume, surpassing the total transfer from its inception until May 21st. Stabrecoin is unique to World Liberty Finance, a decentralized application supported by President Donald Trump and his family.
By mid-May, weekly volumes have already increased significantly. USD1 reached $307 million traded between May 12th and 18th to $4.3 billion the following week, leaving a 1,300% increase per week.
Although the volume for this week has not been confirmed, USD1 had already registered nearly $6.8 billion as of June 1st, an increase of nearly 60% from the previous week. Additionally, this marks a new weekly record, surpassing the last massive amount of $6.2 billion registered between April and May.
The increasing amount of transfers also occurred a month after USD1 became the sixth largest Stablecoin on the market. Market capitalization exceeds $2 billion.
Actions on the Binance-related ecosystem
In particular, users have transferred $1.1 billion on Binance since the USD1 listing. According to Artemis data, this amount is about half of the $2.3 billion traded on Pancakeswap in the last 30 days.
However, most of the transaction volumes in USD1 over the last 30 days seem to come from peer-to-peer (P2P) transfers.
With just two addresses, we moved almost $3.3 billion over the period, tracking only Pancakeswap’s USD1 and Buildon(B) pool. The pool between Stablecoin and Memecoin has registered $143 million in the last 24 hours alone.
Stablecoin is available on the Ethereum Network, but most of the USD1 actions occur in the BNB chain. Stablecoin Supply currently has $2.17 billion, with 98.4% concentrated in the BNB chain. According to Defilama.
This will make USD1 the second largest Stablecoin in the BNB chain ecosystem, bringing only the market capitalization of Tether USD (USDT) in the network to around $6 billion.