The new USD1 stablecoin by World Liberty Financial has attracted the attention of cryptocurrency market participants with a remarkable surge in trading volume within just 24 hours. Despite not being officially listed yet, this stablecoin, which has started trading on Ethereum and BNB Chain, appears to be a serious challenge to Tether’s dominance in the stablecoin market.
The Powerful Entry of USD1 Stablecoin into the Cryptocurrency Market
While the official release date of the USD1 stablecoin has not yet been confirmed, the new asset from World Liberty Financial (WLFI) has already registered more than $44 million in trading volume within just 24 hours. This achievement occurred despite the fact that no official announcements regarding the listing of the stablecoin on centralized exchanges have been made, leaving many investors awaiting its appearance on these platforms.
Remarkable Trading Surge without Official Announcement
On-chain data released by CoinGecko shows that the USD1 token began trading on Ethereum and BNB Chain networks within a single day, without any formal announcement from WLFI. The asset was listed on decentralized exchanges such as PancakeSwap, with the USD1/WBNB trading pair being the most active, registering nearly $22 million in trading volume.
This sharp increase in trading activity, reflecting a 43,714% surge compared to the previous day, is particularly striking considering that the total supply of USD1 is still only slightly over $7 million. Market analysts attribute this sudden spike in trading volume to the airdrop campaign aimed at early supporters of World Liberty Financial, which was introduced earlier this week.
A Strong Start on Two Major Networks
Zach Witkoff, one of the co-founders of WLFI, announced on social media platform X the launch of the USD1 token on both the Ethereum and Smart Chain networks. The stablecoin has registered over $45 million in trading volume on its first day of activity, signaling strong demand for this new asset.
Market Outlook and Challenges Ahead
Despite the strong reception, no official announcement has been made regarding USD1’s listing on centralized exchanges, leading to some confusion among investors. However, analysts believe that the significant transaction volume may indicate that the official listing announcement is imminent.
Unofficial sources, including anonymous analyst xHuai.eth, have speculated that the official release of this stablecoin may coincide with the passage of new legislation regulating stablecoins in the United States.
Conclusion
The entry of the USD1 stablecoin into the cryptocurrency market indicates that this new asset could pose a serious threat to Tether’s dominance. Given its high trading volume and rapid growth on Ethereum and BNB Chain networks, USD1 is expected to become a major player in the market in the near future.
