USD1 in Trouble? $425M Supply Drop But Big Partnership Announced! 🚨

Is World Liberty Financial's USD1 okay? Let's check the latest data! 👇

📉 The Drop:
According to on-chain data, USD1 supply has dropped by over $425 Million in the last 12 days (Oct 7-19). From $4.47B to $4.02B.

Ethereum: $1.61B -> $1.43B
BNB Chain: $1.39B -> $1.19B

This is due to large redemptions before the issuer changes from BitGo to WLFI's own Trust Company.

Don't worry, the peg is still strong at $1.00 and reserves are 100% backed.

📈 The Big News:
USD1 x Mesh Partnership!

World Liberty Financial announced at TOKEN2049 Singapore that USD1 will be spendable at MILLIONS of merchants worldwide via Mesh network.

Mesh connects 300+ wallets including Binance, Coinbase, MetaMask. This is HUGE for real-world adoption!

⚖️ Extra:
Circle shareholder filed a lawsuit regarding the $2B MGX-Binance investment done in USD1.
New 130K WLFI weekly rewards pool live on Aster DEX for USD1 liquidity.

My take: Short-term supply drop is normal before issuer handover. Long-term, merchant adoption is bullish.

What do you think? Is USD1 the next USDC competitor?
$BNB $WLFI $USD1
#USD1 #WLFI #Stablecoin #CryptoNews #WorldLibertyFinancial