Trump-backed stablecoin USD1 has a market cap of over $1 billion on BNB Chain

PANews reported on April 30 that according to Cryptoslate, the stablecoin USD1, a crypto project under the Trump family, exceeded US$1 billion on BNB Chain. On-chain data shows that the three rapid castings of USD1 have been issued on BNB Chain, and the hundreds of millions of dollars of USD1 have been issued on BNB Chain. Coupled with the existing supply on Ethereum, the total market capitalization of USD1 has now exceeded US$1.02 billion. Analysts believe the move may be part of a broader promotion strategy aimed at expanding USD1's influence in DeFi protocols, cross-chain liquidity pools and trading platforms.