USD1 Stablecoin Records $44 Million In Daily Trading Volume

According to data from Coingecko, USD1 stablecoin has recorded frenetic activity levels over the last 24 hours.

World Liberty Financial (WLFI) is a blockchain and cryptocurrency company that is developing a new stablecoin called USD1. The token is a USD pegged stablecoin that is being launched on the Ethereum and BNB Chain.

According to a report by Benzinga, the stablecoin has already recorded $44 million in daily trading volume. It is available on PancakeSwap V3 for trading and the most active pair is USD1/WBNB with volumes of nearly $22 million.

The stablecoin is still in its early stages of development, but it has already generated a lot of interest among investors. In the last 24 hours, the token price has remained relatively stable, with a slight decrease of 0.2%.

Earlier in the week, there was an airdrop proposal for WLFI holders in an attempt to drive adoption metrics.

"The stablecoin USD1, created by the WLFI ecosystem, has recorded $45 million in volume within its first 24 hours live," wrote the pseudonymous Notaz.Sol.

"Now available on BNB Chain and Ethereum, the strong debut signals growing interest and demand for USD1."

When Will WLFI Announce An Official Exchange Listing?

Weeks after WLFI percolated the ecosystem with the announcement of USD1, the stablecoin is yet to make its debut on centralized exchanges.

The delay in listing continues to stump investors but recent on-chain transaction volume indicates a major listing announcement is imminent.

A previous listing date prediction for USD1 fell through but enthusiasm is still running high for community members. Since the April 1 prediction did not pan out, eyes are fixed for a listing announcement before the end of April.

However, pseudonymous crypto analyst xHuai.eth opines that the listing will likely coincide with the passing of a new stablecoin bill in the US.

"Expecting the listing of USD1 on major exchanges as a new stablecoin bill passes in the U.S.,” stated xHuai.eth.

Following the official announcement for the USD1 stablecoin, the technical aspect for the listing is covered with Ethereum and BNB Chain being tapped for launch, hinting at a possibility of a listing.

In the race against other industry firstmovers like USDC and USDT, an early listing will give USD1 an edge to snag a slice of the market share.