First Digital USD Launches on Solana Network with $6.69 Billion Trading Volume
First Digital USD (FDUSD), a multi-chain stablecoin backed 1:1 by the US dollar, has launched on the Solana network. Key points include:
- Integration of FDUSD into major DeFi protocols such as Raydium, Kamino Finance, Meteora, and Phantom Wallet.
- The Solana network features over $9 billion in total value locked and approximately $6 billion market cap in stablecoins.
- FDUSD aims to provide reliable digital US dollars amidst crypto volatility.
- Expected listing on major cryptocurrency exchanges for deposits and withdrawals, enhancing transfer speed and reducing fees.
Market Impact
- FDUSD recorded a 24-hour average trading volume of $6.69 billion and a total market cap of $1.8 billion, indicating high demand.
- The launch supports mainstream adoption of SOL and related DeFi projects.
- SOL price increased by over 8% recently, trading at about $203, following a two-month correction.