World Liberty USD1 Stablecoin Market Cap Drops $400M
7 Articles
7 Articles
USD1 Stablecoin Sheds $401M in Two Weeks as One Mystery Address Drives BNB Chain Burns
World Liberty Financial’s USD1 stablecoin dropped roughly $401 million in market cap over nine days. Fast. And without much noise.… Read the original on USD1 Stablecoin Loses $401M as Mystery BNB Chain Wallet Drives Burns. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
USD1 Supply Falls 9.1% as $385M Burns Hit Ethereum, BNB
World Liberty Financial's USD1 stablecoin has lost approximately $401 million in market capitalization since October 6, with large redemptions on Ethereum and BNB Chain accounting for most of the decline as the Trump family-backed cryptocurrency venture prepares to take over issuance from BitGo. CoinGecko data showed USD1's market capitalization at approximately $4.02 billion on Monday, October 19, down from $4.43 billion on October 6. The 9.1% …
World Liberty Financial USD1 Stablecoin Loses $400 Million in Market Cap
TL;DR USD1’s market capitalization fell from $4.43 billion to $4.02 billion in two weeks, a decline of approximately 9.1%. Ethereum and BNB Chain recorded around $385 million in redemptions. A single unidentified address redeemed nearly $200 million on BNB Chain. The stablecoin maintained its dollar peg throughout the period analyzed, despite the reduction in its ...
USD1, World Liberty Financial’s stablecoin, reduced its capitalization by about USD 401 million between October 6 and 20, mainly for repayments in Ethereum and BNB Chain. The token retained its parity with the dollar during the period analyzed, while the data show marked differences between networks and a concentration of operations that leaves open questions about the evolution of its offer.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
