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USD1 stablecoin by Trump-affiliated WLFI jumped from $130M to $2.1B in under two weeks.
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Large mints on BNB Chain fueled the surge, likely tied to a $2B Binance investment from MGX.
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USD1 now ranks as the seventh-largest stablecoin by market cap.
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WLFI plans to airdrop tokens and expand its onchain testing.
Massive Growth in Days
World Liberty Financial’s stablecoin USD1 has exploded in market cap, growing from $130 million to over $2.1 billion since April 27. The growth is primarily attributed to the Abu Dhabi-based MGX firm’s $2 billion investment into Binance settled using USD1.
Trump Connection and WLFI’s Ambitions
WLFI, which has ties to Donald Trump, launched USD1 in April. The stablecoin is reportedly backed by short-term U.S. Treasurys and fiat cash equivalents. WLFI also plans to use airdrops to increase adoption and test distribution methods.
Now a Top-10 Stablecoin
USD1 is now the seventh-largest stablecoin in the world. Most of the token's activity is on BNB Chain, where large minting activity has been recorded by BscScan.
