USD1 by Trump's WLF is the fastest growing stablecoin.
At the top 5, USD1 overtook FDUSD and PayPal's USD.
Interestingly, of its $2.15B supply, $2B comes from an investment by MGX, an Abu Dhabi-state-backed company, into Binance, which used USD1 for the transaction.
In essence, Binance -owns- $2b of USD1, linking it closely with WLF.
There's little discussion on the implications this has for crypto.
The real challenge is to keep growing. We need to see use cases built for USD1.
Or maybe the real use case and source for growth is its connections with Trump, leading crypto businesses to adopt it for preferential treatment from the Trump admin.
USD1 has decent liquidity & volumes on Pancakeswap. A few memecoins are paired with it.
What's the degen playbook here?
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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