The stablecoin FDUSD has experienced an impressive 62% increase in its circulating supply in just 85 days. It now ranks as the 6th highest in global trading volume, marking its ascent in the world of stablecoins.
In the past 85 days, the relatively new stablecoin FDUSD has seen a remarkable surge in its circulating supply, growing by an impressive 62% since August. This surge has propelled FDUSD into the top ten stablecoins by market capitalization.
Notably, it has also secured the sixth position globally in trading volume among over 10,000 cryptocurrencies. In the last 24 hours alone, FDUSD was traded worldwide, amounting to a substantial $1.62 billion.
While Tether (USDT) remains the dominant trading pair for Bitcoin (BTC), FDUSD has emerged as the second-largest trading pair for the leading cryptocurrency.
It currently holds the 85th position in the cryptocurrency market by market capitalization. However, it’s essential to acknowledge that FDUSD’s trading volume is concentrated on Binance, and the majority of its trading activities are off-chain.
Moreover, a small number of unique addresses hold this stablecoin, with the top 100 holders controlling the entire supply. Binance stands as the largest holder, holding a significant 79.39% of the total FDUSD in circulation.
