The First Digital USD (FDUSD) stablecoin is on a meteoric rise, with its market capitalization soaring by a whopping 51% in a mere 30 days. That’s right, you heard it correctly! FDUSD has now firmly secured its spot among the top stablecoins, claiming the 11th position in terms of market capitalization, according to the fine folks over at Coingecko.
The Journey of FDUSD: From Inception to Stardom
Hong Kong’s very own First Digital Group gave birth to FDUSD back in June of 2023. And boy, has it been a whirlwind romance with success ever since! Shortly after its grand debut, this dynamic stablecoin found its way onto Binance, the crypto exchange juggernaut known for its colossal daily trading volume.
Binance: The Catalyst for FDUSD’s Soaring Success
Binance didn’t just casually embrace FDUSD; it practically rolled out the red carpet. On July 26, it listed FDUSD, and here’s the kicker: they waved goodbye to those pesky trading fees when users wanted to convert their tokens into other stablecoins. Talk about a power move!
Binance’s Love Affair with Stablecoins
But that’s not all, folks! In a surprising turn of events, Binance made a heartwarming announcement in March. They pledged their love and support for the True USD (TUSD) stablecoin, and things got even cozier. They added trading pairs with TUSD for Bitcoin, Ethereum, BNB, and USDT. And yes, you guessed it – zero trading fees!
However, like a fickle lover, they eventually left those sweet, feeless days exclusively for TUSD. A month later, TUSD skyrocketed to become the belle of the ball, the most traded asset paired with Bitcoin on centralized crypto exchanges, all thanks to the unwavering support from Binance.
So, there you have it, a thrilling tale of FDUSD’s rapid rise to fame in the world of stablecoins. From a humble beginning to rubbing shoulders with the biggest names in the crypto scene, FDUSD has certainly made its mark. Who knows what the future holds for this digital darling, but one thing’s for sure – it’s a stablecoin worth keeping an eye on!
