51% Surge in Market Capitalization of FDUSD Stablecoin
First Digital USD, known as FDUSD, has seen its market valuation swell by 51% in the past month, reaching a solid $394 million. This positions it 11th among dollar-pegged stablecoins.
Binance, the cryptocurrency exchange, is largely credited for this growth as it looks for alternatives to its regulator-troubled stablecoin, BUSD.
Analysts note, however, that the majority of these tokens, more than 90%, are still hoarded on the exchange, with little to no use in decentralized apps.
Analysts note, however, that the majority of these tokens, more than 90%, are still hoarded on the exchange, with little to no use in decentralized apps.
