#StripeStablecoinAccounts
💰 USD1 Stablecoin: A Rapid Ascent in the Crypto Market
📈 The USD1 stablecoin, associated with the Trump-aligned World Liberty Financial (WLFI), has quickly risen to become the seventh-largest stablecoin by market capitalization, now valued at $2.125 billion. It ranks between Blackrock’s BUIDL and Ethena’s USDTB, with most of its issuance on the Binance Smart Chain (BSC).
🗣 However, this venture has not been without controversy. Democrats like Elizabeth Warren have expressed discontent regarding the President’s involvement in the stablecoin market.
🔍 A significant portion of USD1 tokens—over 99%—are active on BSC, with only a small share on Ethereum. The primary trading platforms are Pancakeswap v3 and Uniswap v3, which together facilitate a daily trading volume of approximately $26.5 million.
📊 The distribution of USD1 on BSC reveals a high concentration of supply. One address, “0x2087”, holds an astonishing $2 billion worth of USD1 tokens, making up nearly 95% of the circulating supply. Other notable holders include “0xAC3E” and “0x415f”, with significantly smaller amounts.
🔗 On Ethereum, the largest wallet contains 5 million USD1 but has reduced its holdings from 10 million. Another address, “0x041c”, holds 2.5 million USD1 on Ethereum and over 12 million on BSC. Uniswap v3 also plays a crucial role in Ethereum holdings, with two wallets containing over 2 million USD1 each.
📉 Despite the dominance of a single BSC address, the remaining 113 million USD1 tokens are spread across 2,666 wallets. Transaction activity further illustrates this dominance, with 136,644 transfers on BSC compared to just 5,188 transfers across 490 unique wallets on Ethereum.
