FDUSD Nears $1 Billion Cap — A Rapid 253% Surge in Supply Since August

FDUSD Nears $1 Billion Cap — A Rapid 253% Surge in Supply Since August

Recent data indicates that the market capitalization of the newly introduced stablecoin, first digital usd (FDUSD), is approaching the $1 billion threshold. This growth, a 253% increase in supply, has been recorded since August 4, 2023. Currently, the circulation of FDUSD tokens stands at 921 million.

FDUSD’s Market Value Climbs Toward $1 Billion in Just 120 Days

Since its inception, FDUSD’s market value is on the brink of reaching $1 billion, having expanded its supply by a substantial 253% over the past 120 days from August 4, 2023. To date, the issuer of FDUSD has released three attestations, with the latest monthly report concluding in October. As of December 2, 2023, the circulation of first digital usd (FDUSD) stands at approximately 921,272,192 tokens.

FDUSD Nears $1 Billion Cap — A Rapid 253% Surge in Supply Since August

Of the 921 million FDUSD in existence, a mere 224 holders possess the stablecoin, which has been transacted onchain only 1,471 times. Dominating the FDUSD landscape, Binance holds the top three addresses. The leading address alone accounts for a staggering 90.96% of FDUSD’s total supply. Following closely, Binance‘s second wallet contains 7.65% of the circulating FDUSD. The third wallet, also under Binance’s control, holds 0.81%.

Wintermute owns the fourth-largest FDUSD wallet, comprising 0.16% of the total supply, equivalent to 1,502,179 FDUSD. The fifth-largest wallet, whose owner remains unidentified, controls 999,998 FDUSD, or 0.10% of the supply. Collectively, the top 100 holders own 921,269,821.68 FDUSD tokens, nearly the entire circulation.

FDUSD’s rising prominence has positioned it as the sixth-largest USD-pegged token by market capitalization. While it closely trails behind BUSD, TUSD, and DAI, FDUSD is considerably smaller compared to giants like USDC and USDT. However, it boasts a larger supply than newer entrants like Paypal’s PYUSD, Tron’s USDD, and Gemini’s GUSD stablecoin.

What are your thoughts about FDUSD’s growth over the past 120 days? Share your thoughts and opinions about this subject in the comments section below.