Latest figures position USD1, the stablecoin linked to the Trump-aligned World Liberty Financial (WLFI), as the seventh-largest stablecoin by market cap—an impressive feat given its rapid rise. With a current valuation of $2.125 billion, USD1 now sits squarely between Blackrock’s BUIDL and Ethena’s USDTB, predominantly issued on Binance Smart Chain (BSC).
Supply Dominance on BSC
A decisive 2.113 billion USD1 tokens—accounting for over 99% of total issuance—are currently active on Binance Smart Chain, while Ethereum’s share comprises just 14.49 million coins. Trading volume concentrates primarily on Pancakeswap v3 and Uniswap v3, with 24-hour swap activity totaling $26,565,282, reflecting relatively modest liquidity.
Extreme Concentration: Single Address Holds 94.6%
The BSC allocation reveals extraordinary supply concentration: address “0x2087” maintains a commanding position with $2 billion in USD1 tokens, representing 94.6303% of the circulating supply. Secondary holder “0xAC3E” possesses 23,990,000 coins (1.1351%), followed by “0x415f” with 19,986,009.79 of WLFI’s stablecoin tokens (0.9456%). On Ethereum, the supply distribution shows interesting characteristics—the leading wallet contains 5 million USD1. It initially held 10 million but reduced its supply by 50%.
Address “0x041c” maintains a dual-chain presence, securing 2,499,000 USD1 on Ethereum while commanding a far more substantial 12.49 million tokens on BSC. Uniswap v3 emerges as a notable custodian, hosting the third and fourth largest Ethereum-based USD1 wallets with balances of 2,242,886.31 and 1,460,686.88, respectively. Meanwhile, Ethereum wallet “0xeEa8” splits its holdings evenly across both chains, retaining 1 million USD1 on Ethereum and an identical sum on BSC.
Market Activity: BSC Dominates, Ethereum Quiet
While a single BSC address hoards a staggering 2 billion USD1, the remaining 113 million are dispersed across 2,666 wallets. Transaction activity further highlights the chain’s dominance, with 136,644 transfers recorded to date. Ethereum, by contrast, shows more modest engagement—490 unique wallets currently hold USD1, facilitating 5,188 transfers since launch.
The rapid ascent of USD1 underscores the growing influence of Trump-linked projects in the stablecoin space, though extreme supply concentration and low liquidity warrant caution among investors.