⇑ FDUSD Coin Records Remarkable Growth and Broad Adoption Amid Stablecoin Market Fluctuation
FDUSD , a stablecoin by First Digital, has seen significant increase in its market cap amid the Bitcoin downturn. It has jumped ahead of USDE,...
In the cryptocurrency community, FDUSD has been a recurring topic mainly due to its vast market adoption and high trading volumes. FDUSD has been in focus since its market cap reached a record high, surpassing long-standing competitors like USDE and USDC. This resulted in FDUSD becoming the fourth-largest stablecoin in a short period.
Despite a downturn in Bitcoin, FDUSD achieved a $1 billion market cap milestone. Further, it was integrated into Notcoin, which offered staking opportunities for commensurate tokens. FDUSD even shook the stablecoin sector with a swift surge in supply.
FDUSD's rise hasn't been idle speculation -- it's been driven by Binance's strategy of preferring FDUSD over other tokens, enabling staking of BNB and FDUSD to earn various meme coins and tokens via the Binance Launchpool platform. It has led to a high percentage of spot trading volumes on Binance and additional trading pairs.
In addition to this, FDUSD was launched on the Sui blockchain network. The stablecoin was integrated into the Sui Blockchain, following Ethereum and BNB Chain, indicating its growing market influence and expanding adoption. Nonetheless, it also experienced fluctuations due to major cryptocurrency market shifts.
BUSD, another stablecoin, is expected to be phased out by Binance, with remaining balances being converted to FDUSD. This indicates Binance's commitment to FDUSD and its belief in the coin's potential.
FDUSD Coin News Analytics from Fri, 22 Apr 2022 07:00:00 GMT to Tue, 03 Sep 2024 11:30:51 GMT - Rating 8 - Innovation 9 - Information 7 - Rumor -8