World Liberty’s USD1 stablecoin sheds $400M in market cap in two weeks
Summary
World Liberty Financial’s USD1 stablecoin market capitalization fell about $401 million, or 9.1%, from Oct. 6 to roughly $4.02 billion. Onchain Benchmark attributed the decline to redemptions totaling $184.6 million on Ethereum and $200.43 million on BNB Chain; nearly $200 million of the latter came from one unidentified address. USD1 remained pegged between $0.998 and $1.000, and transfers between the chains were under $1 million. Supply on Solana was unchanged, leaving the redemptions largely unoffset. Ethereum’s USD1 supply fell 11.45% over the period, more than several other major dollar stablecoins.
