FDUSD Nears $1 Billion Cap — A Rapid 253% Surge in Supply Since August

Recent data indicates that the market capitalization of the newly introduced stablecoin, first digital usd ($FDUSD), is approaching the $1 billion threshold. This growth, a 253% increase in supply, has been recorded since August 4, 2023. Currently, the circulation of $FDUSD tokens stands at 921 million.

$FDUSD’s Market Value Climbs Toward $1 Billion in Just 120 Days

Since its inception, $FDUSD’s market value is on the brink of reaching $1 billion, having expanded its supply by a substantial 253% over the past 120 days from August 4, 2023. To date, the issuer of $FDUSD has released three attestations, with the latest monthly report concluding in October. As of December 2, 2023, the circulation of first digital usd ($FDUSD) stands at approximately 921,272,192 tokens.

Of the 921 million $FDUSD in existence, a mere 224 holders possess the stablecoin, which has been transacted onchain only 1,471 times. Dominating the $FDUSD landscape, Binance holds the top three addresses. The leading address alone accounts for a staggering 90.96% of $FDUSD’s total supply. Following closely, Binance‘s second wallet contains 7.65% of the circulating $FDUSD. The third wallet, also under Binance’s control, holds 0.81%.

Wintermute owns the fourth-largest $FDUSD wallet, comprising 0.16% of the total supply, equivalent to 1,502,179 $FDUSD. The fifth-largest wallet, whose owner remains unidentified, controls 999,998 $FDUSD, or 0.10% of the supply. Collectively, the top 100 holders own 921,269,821.68 $FDUSD tokens, nearly the entire circulation.

$FDUSD’s rising prominence has positioned it as the sixth-largest USD-pegged token by market capitalization. While it closely trails behind BUSD, TUSD, and DAI, $FDUSD is considerably smaller compared to giants like USDC and USDT. However, it boasts a larger supply than newer entrants like Paypal’s PYUSD, Tron’s USDD, and Gemini’s GUSD stablecoin.

What are your thoughts about $FDUSD’s growth over the past 120 days? Share your thoughts and opinions about this subject in the comments section below.