Today, the Trump-backed WLFI stablecoin USD1 reached a new all-time high, recording $1.25 billion in 24-hour trading volume128. This milestone positions USD1 as the third-largest stablecoin by daily trading volume, trailing only Tether (USDT) and USDC27. The surge highlights growing adoption and trust in the stablecoin, with nearly $991 million of the volume concentrated in the top 10 trading pairs alone.
Key developments driving this momentum include strategic investments—such as a $100 million injection from Abu Dhabi’s Aqua 1 Foundation into WLFI’s governance token and a $2 billion deal between MGX and Binance using USD114. WLFI also plans to release a user-friendly app and conduct a public audit to further boost credibility and transparency.
Despite its rapid rise, USD1 faces scrutiny over centralization concerns and regulatory questions, especially regarding foreign influence and conflicts of interest13. Nonetheless, its strong performance and partnerships signal significant traction in the crypto market.