This month is indeed a turning point for stablecoins; perhaps USD1 from Old Te's family can truly break the current stablecoin landscape.

USD1 itself is backed by short-term U.S. Treasury bonds, government deposits, and money market funds, with Fidelity behind it, ensuring compliance is not an issue. The current challenge is competing against the moat built over years by USDC and USDT, making it difficult to capture market share.

It’s hard to say about other stablecoins, but Old Te's family inherently brings traffic, and Binance has wisely supported it vigorously. Coupled with the popularity of MEME and Alpha, there's no doubt the hype can be driven up.

The support from various CEXs for USD1 marks the beginning of a breakthrough. Relying on one exchange or institution is challenging to disrupt the current division of the market, but USD1 is now a collective effort, leveraging the momentum created by Binance. Other exchanges are also eager to list it, and WLFI is actively promoting it, creating a coordinated effort.

Looking at the historical ATH market cap of the top three stablecoins, they seem to be stuck around the 10 billion mark. The BUSD, heavily promoted by Binance back in the day, peaked at around 15 billion.

Breaking through the stablecoin market happens in three tiers: using it in DeFi, using it on CEX, and using it for offline transactions. Currently, USD1 has opened the second tier, and it remains to be seen if Binance will continue to push it. The third tier represents the true moat for leading stablecoins, and user habits take time to change. At present, the changes brought about by stablecoin legislation represent a timely opportunity, while USD1's background provides a geographical advantage, and support from multiple exchanges and projects represents the human element. This is a critical moment that should not be missed.