I’ve watched enough crypto cycles to know a candle like this can make people forget their questions. USUAL is up roughly 100% on the chart, with 24h volume showing about $219M. I keep noticing how quickly a move becomes a narrative, while nobody asks what sits underneath.
What interests me is that Usual isn’t just an empty ticker. Its core product is USD0, a dollar-pegged stablecoin backed by short-duration Treasury assets. Usual has also pushed V2, EUR0 and yield products. That part is real. DefiLlama shows around $87M TVL and about $323K in protocol revenue over 30 days. There is actual activity here.
But I’ve seen this before. A real product doesn’t automatically mean the token captures its value. Revenue has cooled from earlier quarters, while $USUAL remains about 99% below its $1.61 ATH. That gap matters. A token can reprice in hours; durable demand takes longer.
I’m not sure yet what this move means. I don’t fully trust a 100% candle by itself. Something feels different only if the next few weeks show rising TVL, sustained fees, real USD0 usage and stronger token demand after the excitement fades. Otherwise, it’s another fast move asking everyone to explain it later.
What interests me is that Usual isn’t just an empty ticker. Its core product is USD0, a dollar-pegged stablecoin backed by short-duration Treasury assets. Usual has also pushed V2, EUR0 and yield products. That part is real. DefiLlama shows around $87M TVL and about $323K in protocol revenue over 30 days. There is actual activity here.
But I’ve seen this before. A real product doesn’t automatically mean the token captures its value. Revenue has cooled from earlier quarters, while $USUAL remains about 99% below its $1.61 ATH. That gap matters. A token can reprice in hours; durable demand takes longer.
I’m not sure yet what this move means. I don’t fully trust a 100% candle by itself. Something feels different only if the next few weeks show rising TVL, sustained fees, real USD0 usage and stronger token demand after the excitement fades. Otherwise, it’s another fast move asking everyone to explain it later.