USD1 Stablecoin Surges 1,300% in Weekly Volume on Binance

World Liberty Financial’s stablecoin USD1 has achieved a significant milestone, surpassing $10 billion in transfer volume within just 10 days of its listing on Binance. This remarkable growth highlights the increasing adoption and trust in USD1 as a stable digital asset. From May 22 to June 1, the stablecoin recorded $10.7 billion in transfer volume, which is a substantial increase from its previous total transfers. This surge in activity is particularly noteworthy given that USD1 is backed by World Liberty Finance, a decentralized application supported by President Donald Trump and his family.

The stablecoin's weekly trading volume also reached a new all-time high of nearly $7 billion. This growth is part of a broader trend of increasing volumes, with USD1 experiencing a 1,300% weekly increase in mid-May. The stablecoin traded $4.3 billion between May 19 and 25, up from $307 million the previous week. As of June 1, USD1 had already registered nearly $6.8 billion in transfers, marking a new weekly record and surpassing the previous all-time high volume of $6.2 billion recorded between April and May.

This rapid growth in transfer volumes comes just one month after USD1 became the sixth-largest stablecoin in the market, surpassing $2 billion in market cap. The increasing transfer volumes also reflect significant activity on the Binance-related ecosystem, with users transferring $1.1 billion on Binance since the USD1 listing. This amount is roughly half of the $2.3 billion traded on PancakeSwap in the past 30 days, according to data from Artemis.

Most of USD1’s transaction volume in the past 30 days appears to come from peer-to-peer (P2P) transfers. Two addresses alone moved almost $3.3 billion during this period, trailing only the USD1 and BUILDon (B) pool at PancakeSwap. The pool between the stablecoin and the memecoin registered $143 million in the past 24 hours alone. Although USD1 is available on the Ethereum network, most of its activity occurs on the BNB Chain. The stablecoin supply currently stands at $2.17 billion, with 98.4% of it concentrated on the BNB Chain, according to DefiLlama. This makes USD1 the second-largest stablecoin in the BNB Chain ecosystem, surpassed only by Tether USD’s (USDT) nearly $6 billion in market cap within the network.