Trump-backed WLFI stablecoin USD1 enters DeFi space with strong early activity
The post Trump-backed WLFI stablecoin USD1 enters DeFi space with strong early activity appeared on BitcoinEthereumNews.com.
World Liberty Financial (WLFI), the DeFi project backed by President Trump’s family, appears to have launched its highly anticipated stablecoin USD1. Reports from blockchain aggregators and on-chain data show that the stablecoin is already trading with over $100 million in market cap. According to data from CoinMarketCap and Coingecko, USD1 has already started trading. CoinMarketCap data shows that the token has a trading volume of $72 million, which has increased by over 1,000% in the last 24 hours, while its market cap is $128 million. However, Coingecko data shows that USDI has had a 24-hour trading volume of $138 million with a total supply of $7 million. USD1 market data (Source: CoinMarketCap) Despite the disparity between the figures from the two platforms, their data show there has been activity regarding USDI with Coingecko, including contract addresses for the stablecoin on BNB Smart Chain (BSC) and Ethereum. Onchain data also supports this information. The BSC official account on X reports that over 113 million USD1 tokens have been minted on the network. An analysis of the contract address shows that there have already been over 20,000 transfers, with 326 holders for the stablecoin. One user also observed that the logo for USD1 has changed on CoinMarketCap, noting that the new logo will likely be the final one for the stablecoin WLFI is quiet even as Lista DAO creates a USD1 lending vault Meanwhile, WLFI has not issued any statement on the launch of the USD1 stablecoin. Since it announced plans to launch a stablecoin on March 25, its most recent update on USDI was on April 7, when it posted a proposal to airdrop the stablecoin to all the holders of the USD1 token. At the time, it said this proposal was to test the airdrop functionality of its protocol. However,…
