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Donald Trump-Backed World Liberty Financial’s (WLFI) Stablecoin’s Value Hits Record Highs in a Short Time! Here’s Why
By: cryptosheadlines|2025/05/08 23:00:07
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Launched by World Liberty Financial (WLFI), an organization with ties to US President Donald Trump, the new stablecoin USD1 has seen its supply explode, rising from under $130 million on April 27 to over $2.1 billion in early May.Trump-Linked USD1 Stablecoin Surpasses $2 Billion Market Cap in a Few DaysAccording to data from CoinGecko, CoinMarketCap, and DefiLlama, the market cap of USD1 had increased by over $720 million by April 28 and surpassed $2 billion just two days later.Blockchain scanner BscScan, which tracks the Binance Smart Chain where the token was first launched, showed multiple large print runs ranging from $50 million to $99 million during this period.MGX Deal Triggers Massive Supply SurgeThe dramatic increase in supply appears to be directly linked to the May 1 announcement by Abu Dhabi-based investment firm MGX that it would invest $2 billion in the world’s largest cryptocurrency exchange, Binance, using USD1.Brandon Kae, research analyst at The Block, said the MGX-Binance deal could explain the latest minting activity. WLFI has not publicly commented on the minting activity or the details of the MGX transaction.USD1 was officially launched in April 2025 after its development was announced by WLFI in March. Like other fiat-linked tokens, this stablecoin is backed by short-term U.S. Treasury bonds, cash reserves, and bank deposits, aiming to provide a transparent and fully collateralized digital dollar infrastructure.As part of its launch, WLFI plans to airdrop a portion of USD1 to token holders, positioning the move as both a promotional effort and a way to test its on-chain distribution capabilities.Despite being a new player, USD1 enters a mature and highly competitive $231 billion stablecoin market that is currently dominated by Tether (USDT) with $149 billion and Circle’s USDC with a market cap of $60 billion. Together, USDT and USDC account for more than 90% of the US dollar stablecoin market.*This is not investment advice.Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!Source link
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