FDUSD Market Growth and Ranking
In the span of two weeks, from December 2 to December 17, 2023, the stablecoin asset known as first digital usd (FDUSD) has experienced a significant expansion. Its supply has increased by 690 million coins, resulting in a market capitalization of $1.61 billion. This surge has propelled FDUSD to become the fifth-largest fiat-pegged cryptocurrency in the market.
FDUSD's Activity on Binance
Binance, the centralized crypto exchange, plays a crucial role in FDUSD's market activity. A substantial portion of FDUSD's onchain movements and trading volume can be attributed to Binance. In the last 24 hours alone, FDUSD has witnessed a global trade volume of $2.2 billion, with USDT and BTC pairs driving the majority of the trading activity on Binance.
FDUSD's Supply and Wallet Distribution
As of December 17, FDUSD's supply stands at 1.611 billion coins, marking a significant increase of 74.92% from its supply of 921 million coins on December 2. In terms of supply distribution, FDUSD is more concentrated compared to other leading stablecoins, with only 255 wallets holding FDUSD. Among these wallets, the top three are under Binance's control, with the largest wallet alone holding 1.533 billion FDUSD, accounting for 95.1450% of the total supply.
Binance's Dominance in Stablecoin Holdings
Binance's control over stablecoins extends beyond FDUSD. The exchange also holds a substantial portion of TUSD, with 2.17 billion coins out of TUSD's circulating supply of 2.43 billion. In addition, Binance has a significant hold on the tether (USDT) supply, amounting to 21.54%. Binance dominates the fourth and fifth largest stablecoins and commands the two largest BUSD addresses, as it holds the majority of the 1.2 billion BUSD stablecoins in circulation.
What are your thoughts on the impressive growth of FDUSD in the past two weeks? Share your opinions in the comments section below.
Frequently Asked Questions
Should You Purchase Gold?
In the past, gold was considered a haven for investors during economic turmoil. Many people today are moving away from stocks and bonds to look at precious metals, such as gold, as a way to diversify their investments.
The gold price has been in an upward trend for the past few years, but it remains relatively low compared with other commodities like silver or oil.
Experts believe this could change soon. They believe gold prices could increase dramatically if there is another global financial crises.
They also pointed out that gold is gaining popularity due to its perceived value, and potential return.
Here are some things to consider if you're considering investing in gold.
- First, consider whether or not you need the money you're saving for retirement. You can save for retirement and not invest your savings in gold. The added protection that gold provides when you retire is a good option.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each offer varying degrees of security and flexibility.
- Keep in mind that gold may not be as secure as a bank deposit. Losing your gold coins could result in you never being able to retrieve them.
You should do your research before buying gold. Make sure to protect any gold you already own.
Can the government steal your gold?
The government cannot take your gold because you own it. You have earned it by working hard for it. It belongs to your. But, this rule is not universal. You could lose your gold if convicted of fraud against a federal government agency. Also, if you owe taxes to the IRS, you can lose your precious metals. However, even if taxes are not paid, gold is still your property.
What are the fees associated with an IRA for gold?
The Individual Retirement Account (IRA), fee is $6 per monthly. This fee includes account maintenance fees as well as any investment costs related to your selected investments.
Diversifying your portfolio may require you to pay additional fees. These fees vary depending on what type of IRA you choose. Some companies offer free check accounts, but charge monthly fee for IRA accounts.
Many providers also charge annual management fees. These fees are usually between 0% and 1%. The average rate is.25% annually. These rates can be waived if the broker is TD Ameritrade.
Who owns the gold in a Gold IRA?
The IRS considers anyone who owns gold to be “a form money” and therefore subject to taxation.
You must have at least $10,000 in gold and keep it for at most five years to qualify for this tax-free status.
Gold can be used to protect against inflation and price volatility. However, it is not a good idea to own gold if you don't intend to use it.
If you plan on selling the gold someday, you'll need to report its value, which could affect how much capital gains taxes you owe when you cash in your investments.
Consult a financial advisor or accountant to determine your options.
What precious metals do you have that you can invest in for your retirement?
Gold and silver are the best precious metal investments. They're both easy to buy and sell and have been around forever. Consider adding them to the list if you're looking to diversify and expand your portfolio.
Gold: One of the oldest forms of currency, gold, is one of mankind's most valuable. It's also very safe and stable. It is a good way for wealth preservation during uncertain times.
Silver: Silver has been a favorite among investors for years. It's a good choice for those who want to avoid volatility. Silver tends to move up, not down, unlike gold.
Platinium: Platinum is another form of precious metal that's becoming increasingly popular. It is very durable and resistant against corrosion, much like silver and gold. It's also more expensive than the other two.
Rhodium: Rhodium can be used in catalytic convertors. It is also used as a jewelry material. It's also relatively inexpensive compared to other precious metals.
Palladium: Palladium, which is a form of platinum, is less common than platinum. It's also more affordable. It's a popular choice for investors who want to add precious metals into their portfolios.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
investopedia.com
- Do You Need a Gold IRA to Get Retirement?
- What are the Options? Types, Spreads, Example and Risk Metrics
law.cornell.edu
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
forbes.com
finance.yahoo.com
How To
The growing trend of gold IRAs
Investors are increasingly turning to gold IRAs as a way to diversify and protect their portfolios from inflation.
Gold IRA owners can now invest in physical gold bullion or bars. This IRA can be used to grow your wealth tax-free and is an alternative option to stocks and bonds.
An investor can use a gold IRA to manage their assets and not worry about market volatility. They can use the gold IRA to protect themselves against inflation and other potential problems.
Investors also benefit from physical gold's unique properties, such as durability and portability.
Additional benefits of the gold IRA include the ability to quickly pass ownership to heirs. Additionally, the IRS does not consider gold a money or a commodity.
Investors who seek financial stability and a safe haven are finding the gold IRA increasingly attractive.
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By: Jamie Redman
Title: FDUSD Supply Surges by 74% in Two Weeks
Sourced From: news.bitcoin.com/fdusd-rockets-to-1-6b-market-cap-becoming-fifth-largest-fiat-pegged-crypto-amid-binance-concentration/
Published Date: Sun, 17 Dec 2023 21:30:34 +0000
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