First Digital USD
- Overall ranking: #73
- Coin
First Digital USD Price (FDUSD)
Market Cap
Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). It's similar to the stock markets' Free-Float Capitalization.
Market Capitalization = Circulating Supply x Current Price.
$1,848,902,355
0.07%
Fully Diluted Market Cap
FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation.
FDMC = Max Supply x Current Price.
Note: if Maximum Supply is not available or limitless, Total Supply is used to calculate the value. FDMC will be undefined and marked as "--" if no form of Supply is available.
$1,848,902,355
0.07%
Trading Volume
$13,401,749,684
26.94%
Volume / Market Cap
7.2485
Circulating Supply
Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly).
Verified Data
Bitcoin project's Circulating Supply has been verified and is equal to:
Circulating Supply
Number
1,850,235,541.09 FDUSD
Max Supply:
The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency's lifetime. Similar to stock market's Fully Diluted Shares.
Note: Max Supply will be undefined and marked as "--" if project owners did not verify / provide any data.
--
Total Supply:
The quantity of all coins/tokens that have ever been issued (even if the coins are locked), minus all coins/tokens that have been removed from circulation (burned). The Total Supply is similar to stock market's Outstanding Shares
Total Supply = All Issued Coins - Burned Coins.
Note: Total Supply will be undefined and marked as "--" if project owners did not verify / provide any data.
1,850,235,541
First Digital USD (FDUSD) to USD Chart
FDUSD to USD Converter
First Digital USD
The current real-time First Digital price is $1.00 . FDUSD price has grew by 0.07% in the last day and increased by 0.04% in the last seven days. It’s important to note that the current First Digital USD market capitalization is $1,848,902,355. The maximum supply is coins, with a circulating supply of 1,850,235,541.09. FDUSD is ranked #73 in terms of market cap.
What is First Digital USD?
First Digital USD (FDUSD) is a US dollar-pegged stablecoin created as an alternative to popular projects like USDT or USDC. The asset was designed to automatically balance to ensure that it can always maintain a 1:1 peg with USD. Being available on the Ethereum and BNB Chain, FDUSD benefits from its parent network's underlying security and decentralization.
The FDUSD token has many uses within the cryptocurrency space. It has potential in the Decentralized Finance (DeFi) space as an alternative stablecoin for crypto loans or yield farming. People can also attain FDUSD to reduce volatility while maintaining crypto exposure, transfer value across the network, and hedge against inflation.
First Digital USD was released in June 2023 by First Digital Limited, a Hong Kong-based company specializing in custodial and treasury services. First Digital is registered as a trust company in Hong Kong, meaning First Digital USD must adhere to regional regulations.
How First Digital USD Works
Algorithmic stablecoins, which automatically mint tokens to maintain a reserve, were popular, but the collapse of Terra and its USTC stablecoin highlighted the system's folly. Instead of relying on an algorithm, First Digital USD maintains its peg by ensuring it always holds cash or cash equivalents equal to or greater than the value of the circulating FDUSD tokens.
Although most stablecoins strive to maintain transparency with users, some, like Tether (USDT), have faced controversy over this topic. However, First Digital USD is open with users regarding its reserves. The stablecoin issuer publishes a monthly attestation of reserves, which a third party audits. Based on the latest report, First Digital USD is slightly over-collateralized.
Proper fund maintenance and security are critical for a company that manages billions of dollars. First Digital USD is registered in Hong Kong and must store all its FDUSD reserves in safe, segregated bank accounts. First Digital USD cannot mix its reserves and other funds. Moreover, the company is mandated to keep its reserves in cash or highly liquid cash equivalents.
What's Unique About First Digital USD
First Digital USD was created with usability in mind. To help the asset carve out its place in the highly competitive stablecoin market, the project's team opted to launch it on two networks: Ethereum and the BNB Chain. While the Ethereum network and BNB Chain already present a user base of millions, First Digital USD plans to expand to other networks in the future.
While First Digital created FDUSD with the goal of expanding to many networks, the project has several unique uses within the Binance ecosystem. The exchange has a long-standing promotion where users can trade FDUSD pairs without paying fees. Moreover, people can stake FDUSD on Binance's Simple Earn program to earn up to 19.9% APR, according to our Binance review.
One of FDUSD's most notable features is its programmability. Developers can build smart contracts on the First Digital USD network, enabling the creation of things like escrow and insurance services. Moreover, FDUSD's programmability grants users greater control over their transactions while reducing costs and improving precision.
First Digital USD Compared to Other Stablecoins
There are many stablecoins on the market, and they all have similar functionality, which can make selecting a particular option challenging. Two of the most popular stablecoins are USDT and USDC, both of which maintain their dollar peg by ensuring cash reserves are always equal to or greater than the number of issued tokens.
- USDT – Tether (USDT) is the world's most popular stablecoin. Like FDUSD, it has never been significantly de-pegged and releases regular reserve reports. However, USDT has found itself at the center of controversy regarding reserve transparency and crypto regulations.
- USDC – USD Coin (USDC) is issued by the payment company Circle. While USDC has never faced trouble regarding transparency or legal issues, the stablecoin has experienced several de-pegging incidents.
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