USD1 of World Liberty Financial receives 1,500% increase in its market capitalization

By Hannah Pérez

The market capitalization of the USD1 stablecoin, linked to Trump, increased from mid -April from USD $ 128 million to more than USD $ 2 billion.

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USD1 grows by leaps and bounds, exceeding USD $ 2 billion in market capitalization.
It increased more than 1,500% from a supply of USD $ 128 million in mid -April.
The increase occurred after massive tokens minting events of up to 99 million.
It is inserted into a USD market $ 241 billion dominated by USDT.

The New Stablecoin USD1 World Liberty Financialthe cryptocurrency project linked to Donald Trump, is quickly becoming one of the main of its kind in the world market.

USD1, whose value is anchored to the US dollar, has experienced an amazing increase of more than 1,500% in its market capitalization in a little less than a month. The data of Coinmarketcap They show that the stable currency enjoyed a market capitalization of USD $ 128 million on April 13, a figure that has since triggered $ 2 billion.

At the time of editing this article, The USD1 market capitalization is $ 2.12 billion, which positions it as the 5th Stablecoin larger market assessmentaccording to the source cited. In the widest cryptocurrency market, the Token It is located 46th among digital assets with greater capitalization.

Data from tracking Coingcko and Defill They also indicate that the USD1 supply jumped more than USD $ 720 million since the end of the month to exceed the USD $ 2 billion brand on April 30, as you noticed first The Block.

This increase occurred in the midst of several large coinages of USD1 for between 55 million and 99 million, as revealed by the data of BSCSCAN —The main block explorer for Binance Smart Chainwhere there is most of the supply of that token.

USD1 competes in a USD market $ 240 billion

World Liberty Financial (WLF), a decentralized finance platform (DEFI) backed by Trump’s family, presented in March its Stablecoin linked to the US dollar, revealing that it would be launched in alliance with Bitgo.

“USD1 will become one of the most transparent and regulated stablecoins in the world. It is backed by the short -term treasure and the equivalent in cash“, Eric Trump then commented, who serves as one of the managers on the WLF Board of Directors.

The Stablecoins Or stable currencies, a market currently valued at more than USD $ 241 billion, they are a type of digital token linked to the value of physical assets such as fiduciary currencies, often US dollars. They differ from cryptocurrencies such as Bitcoin by avoiding volatility.

Like others of its kind, USD1 is fully backed by the American treasure bonds in the short term, dollars in dollars and cash equivalents. Besides, World Liberty Financial It intends to launch a small portion of USD1 to the tokens wlfi holders as a reward and Test your chain distribution model, according to The Block.

At the beginning of May it was reported that Mgxa company based in Abu Dhabi, will complete its investment for USD $ 2 billion in Binance using USD1, which marks the first known relevant use of that Token as a means of payment in the real world.

USD1 now competes with the main Stablecoins Like USDT TetherUSDC Circle and Dai, which together represent just over USD $ 215 billion of market capitalization.

Hannah Estefanía Pérez / Diariobitcoin

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