Eric Trump Backs USD1: A New Stablecoin With Old Money Muscle

Eric Trump, son of former U.S. President Donald Trump, has publicly endorsed the inclusion of World Liberty Financial USD (USD1) on Coinbase, highlighting the cryptocurrency’s addition to the exchange’s roadmap. USD1 is a stablecoin pegged to the U.S. dollar and operates on the Ethereum blockchain. As of recent data, the token has a circulating supply of 2.4 billion units and is traded across 121 active markets globally. Over the past 24 hours, USD1 has seen a trading volume of approximately $420.98 million, according to Coinbase’s data [1].

USD1 is categorized as a stablecoin, with a primary aim to maintain a 1:1 peg with the U.S. dollar. Despite its stablecoin designation, the asset has experienced fluctuations. For example, in the last 24 hours, USD1’s price remained relatively flat, with a minor increase of 0.01 U.S. dollars. The token’s 24-hour trading volume varied across different regional exchanges. On Coinbase Italy, USD1 traded at €0.86, with a market capitalization of €2.06 billion, while in Australia, the price was listed at A$1.56, with a market capitalization of A$3.73 billion [1][2]. These figures suggest USD1 is experiencing relatively low volatility compared to other digital assets, though it is not immune to short-term price changes.

The token’s dominance in the broader cryptocurrency market remains minimal, with a dominance index of 0.06 percent in both regions. This indicates that while USD1 is present in the market, it has not yet captured significant market share. Over the last 30 days, USD1 has seen a cumulative trading volume of between $7.66 billion and $14 billion, depending on the exchange, reflecting modest but consistent trading activity. The token's 7-day trading volume also showed a slight increase in some markets, such as Australia, where it reached A$3.35 billion [2].

The inclusion of USD1 on major exchanges like Coinbase is a notable development for the token, as it is expected to increase its liquidity and accessibility. The asset is also tagged with descriptors such as "made-in-america" and "binance-listing," which may signal efforts to position it as a U.S.-centric alternative in the stablecoin market. Eric Trump’s endorsement of USD1 underscores the growing interest in the token from high-profile investors and policymakers. While no formal statements from Trump were provided in the available data, his public support could help attract further attention and adoption for the stablecoin [1].

Analysts tracking USD1’s performance note that the token's price changes have been relatively modest over the past year. Despite a 0.27 percent decline compared to its all-time high of €0.86, USD1 has remained stable in the context of broader market trends. Social sentiment surrounding the token has also been largely positive, with 54.38 percent of tweets classified as bullish on the asset. This sentiment is based on a sample of 581 tweets, suggesting a moderate level of public interest [1]. However, the token has not generated significant media coverage in the past 24 hours, with no new news articles published about it [1].

USD1’s current market dynamics and its addition to Coinbase’s roadmap illustrate the evolving landscape of stablecoins in the cryptocurrency market. As more stablecoins gain traction on major exchanges, they are likely to play an increasingly important role in facilitating cross-border transactions, hedging against volatility, and expanding the utility of digital assets. The token’s future performance will depend on factors such as regulatory developments, market demand, and its ability to maintain its peg to the U.S. dollar. In the meantime, USD1 continues to operate as a stablecoin with a relatively modest market presence but growing visibility among traders and investors.

Source: [1] World Liberty Financial USD Price, USD1 Price, Live ... (https://www.coinbase.com/en-it/price/usd1-wlfi) [2] World Liberty Financial USD Price, USD1 Price, Live ... (https://www.coinbase.com/en-au/price/usd1-wlfi) [3] USD1 to INR: Convert World Liberty Financial USD ... (https://www.coinbase.com/en-it/converter/usd1/inr)