Stablecoin USD1 from World Liberty Financial surpassed $ 10 billion in transfer volume only 10 days after the list on Binance, according to facts from Artemis.
From 22 May to 1 June, the Stablecoin traded $ 10.7 billion in volume and surpassed the total transfers from the beginning to 21 May. The Stablecoin is native to World Liberty Finance, a decentralized application supported by President Donald Trump and his family.
Weekly volumes had already increased considerably in mid -May. USD1 left the $ 307 million that was traded between 12 and 18 May to reach $ 4.3 billion the following week, a weekly increase of 1,300%.
Although the volumes of the current week are not completed, USD1 has already registered almost $ 6.8 billion from 1 June, almost 60% higher than last week. Moreover, this marks a new weekly record, which exceeded the last high volume of $ 6.2 billion, which was registered between April and May.
The increasing transfer volumes also came a month after USD1 became the sixth largest Stablecoin in the market, exceeded $ 2 billion in market capitalization.
Action on the Binance-related ecosystem
In particular, users have transferred $ 1.1 billion to Binance since the list of USD1. The amount is about half of $ 2.3 billion traded on pancake wap in the last 30 days, according to the data from Artemis.
However, the majority of USD1 transaction volume in the last 30 days seems to come from peer-to-peer (P2P) transfers.
Two addresses alone moved almost $ 3.3 billion during the period and only followed the USD1 and Buildon (B) Pool at Pancakeswap. The swimming pool between the Stablecoin and the Memecoin alone registered $ 143 million in the last 24 hours.
Although the stablecoin is available in the Ethereum network, most USD1 action is done on the BNB chain. The Stablecoin range is currently $ 2.17 billion, with 98.4% of them concentrated on the BNB chain, According to Defillama.
This makes USD1 the second largest stablecoin in the BNB chain ecosystem, only surpassed by Tether USDs (USDT) almost $ 6 billion in market capitalization within the network.