USD1 surpasses PayPal USD and Tether Gold amid rapid growth
The Trump-endorsed stablecoin, USD1, launched by World Liberty Financial (WLFI), has skyrocketed into the top seven stablecoins globally, marking a significant milestone in just two months since its debut.
Introduced in March with an initial supply valued at $3.5 million, USD1 has surged to a market capitalization of $2.2 billion. This dramatic rise places it ahead of major competitors such as PayPal USD ($872 million), Tether Gold ($823 million), and First Digital USD ($1.5 billion). The total stablecoin market now stands at $246 billion, with Tether’s USDT ($149.5 billion) and Circle’s USDC ($61 billion) still commanding the top spots.
USD1’s growth is largely fueled by its dominant presence on the Binance-backed BNB Chain, where $2.1 billion of its supply is currently circulating—over 99% of its total. In comparison, only $14.5 million exists on Ethereum.
The stablecoin’s meteoric rise accelerated in late April, when its market cap surged by 1,540%, jumping from $128 million to $2.1 billion in a matter of days. This growth was further boosted by Eric Trump’s announcement that Abu Dhabi-based MGX investment firm would inject $2 billion into Binance using USD1.
The WLFI community is also gaining momentum, currently voting on an airdrop proposal. Notably, around 90% of WLFI investors are based outside the United States.$TRUMP