The market cap of First Digital USD (#FDUSD ) has skyrocketed by 51% in the last 30 days to $394 million. 📈
#Binance has been a pivotal factor in this growth, and here's why this matters for you.
The Stats Don't Lie: FDUSD's Unprecedented Growth
The First Digital USD (FDUSD) stablecoin has seen a 51% increase in market capitalization over the last month, reaching $394 million. According to CoinGecko, it now ranks as the eleventh largest dollar-based stablecoin.
Did you know?
Stablecoins like FDUSD are critical in the crypto world as they offer a safe haven during market volatility.
The Binance Connection:
Binance, the world's largest #crypto exchange, has played a key role in FDUSD's success. It was quick to list the stablecoin shortly after its launch in June and even eliminated trading fees for FDUSD conversions. 🤝
For those looking to make a quick buck, Binance is offering a 6% annualized percentage yield on FDUSD deposits via its Simple Earn product. 🤑
Binance recently announced its decision to discontinue support for BUSD, a staple on its platform, in favor of FDUSD. This move is set to take place on September 15 and marks a significant endorsement of FDUSD.
"When Binance moves, the crypto world pays attention."
What's Next?
FDUSD is growing fast, primarily due to Binance's endorsement.
So, should you invest in FDUSD?
If you're active on Binance, FDUSD offers a promising investment, especially with a 6% yield. But tread carefully if you're looking for broader market adoption.
While FDUSD is climbing the ranks fast, as always, do your due diligence before jumping in.
