This month is truly a turning point for stablecoins, and perhaps USD1 from Old Te's family can really break the current stablecoin pattern.

USD1 itself is backed by short-term U.S. Treasury bonds, government deposits, and money market funds, with Fidelity behind it, so compliance shouldn't be an issue. The current problem is that, facing the moats built by USDC and USDT over many years, capturing market share is still challenging. It's hard to say about other stablecoins, but Old Te's family inherently brings traffic, and Binance is also wisely supporting it vigorously. Coupled with the hype from MEME and Alpha, there should be no problem in generating excitement.

The support from various CEXs for USD1 marks the beginning of a breakthrough. It is difficult to break the current binary landscape relying on just one exchange or institution, but USD1 is now a combined force. Riding on the hype generated by Binance, other exchanges are also eager to launch it, plus WLFI is raising its flag and shouting, creating a synergy.

Looking at the historical ATH market caps of the top three stablecoins, they seem to be stuck around the 10 billion mark. The BUSD that Binance heavily promoted back in the day only reached about 15 billion at its peak.

The breakthrough for stablecoins has three levels:

Using on DeFi - Using on CEX - Using in offline transactions. Currently, USD1 has opened up the second level, and the next step depends on whether Binance pushes it vigorously. The third level is where the real moat of top stablecoins lies; user habits will take more time to change. Right now, with the changes brought about by the stablecoin legislation, it can be seen as a timely opportunity, while USD1's background serves as a geographical advantage, and the support from multiple exchanges and projects counts as the people. This opportunity must not be missed; the time will not come again.