World Liberty Financial’s stablecoin USD1 has achieved a major milestone, surpassing $10 billion in transfer volume just 10 days after being listed on Binance. Data from Artemis shows that from May 22 to June 1, the stablecoin traded $10.7 billion in volume, exceeding the total transfers from its inception until May 21. USD1 is the native stablecoin of World Liberty Finance, a decentralized application supported by President Donald Trump and his family.
The weekly trading volumes for USD1 saw a significant increase in mid-May. The stablecoin went from trading $307 million between May 12 and 18 to $4.3 billion the following week, marking a 1,300% weekly increase. As of June 1, USD1 has already recorded nearly $6.8 billion in transfer volume, representing a nearly 60% increase from the previous week and setting a new weekly record, surpassing the previous all-time high volume of $6.2 billion.
One month after surpassing $2 billion in market cap, USD1 became the sixth-largest stablecoin in the market. Notably, users transferred $1.1 billion on Binance since the listing of USD1. While this amount is approximately half of the $2.3 billion traded on PancakeSwap in the past 30 days, most of USD1’s transaction volume seems to come from peer-to-peer (P2P) transfers.
Two addresses were responsible for moving almost $3.3 billion of USD1 in the past 30 days, making them the top movers behind the USD1 and BUILDon (B) pool at PancakeSwap. The majority of USD1’s activity occurs on the BNB Chain, where the stablecoin supply currently sits at $2.17 billion, with 98.4% of it concentrated on the BNB Chain, according to DefiLlama.
In the BNB Chain ecosystem, USD1 is the second-largest stablecoin, with Tether USD (USDT) holding the top spot with nearly $6 billion in market cap within the network. This growth and adoption of USD1 on various platforms demonstrate the increasing popularity and utility of World Liberty Financial’s stablecoin in the cryptocurrency market.