USD1 Stablecoin Surpasses $50 Billion Trading Volume on Binance
USD1, a dollar-pegged stablecoin launched by World Liberty Financial in March last year, has surpassed $50 billion in cumulative trading volume on Binance. According to on-chain analyst Darkfost, weekly volumes for USD1 on the exchange range from $750 million to over $2 billion.
The milestone is seen as a reflection of growing adoption and improved token liquidity, but Darkfost cautioned that the figures should be interpreted carefully due to a $2 billion institutional settlement tied to Binance's investment. This settlement may have inflated issuance and trading volume data, making the numbers appear more significant than they actually are.
Despite this caveat, the sustained weekly volumes suggest genuine usage of USD1 beyond the one-off transaction. The stablecoin's performance is being watched as an indicator of market demand for dollar-pegged assets in a highly competitive sector dominated by established players like Tether (USDT) and Circle (USDC).