FDUSD's Impressive Growth and Market Value
Recent data reveals that the market capitalization of the newly introduced stablecoin, first digital usd (FDUSD), is rapidly approaching the $1 billion mark. Since its inception on August 4, 2023, FDUSD has experienced an astounding 253% increase in supply, positioning it as one of the most promising USD-pegged tokens in the market. Currently, the circulation of FDUSD tokens stands at approximately 921 million.
Expanding Supply and Monthly Attestations
FDUSD's journey towards the $1 billion milestone has been nothing short of remarkable. Over the course of the past 120 days, its market value has expanded by an impressive 253%. The issuer of FDUSD has released three attestations, with the latest monthly report concluding in October. These attestations provide transparency and assurance to investors.
As of December 2, 2023, the circulation of FDUSD stands at approximately 921,272,192 tokens, an indication of its growing popularity and adoption within the market.
The Dominance of Top Holders
Despite the significant growth of FDUSD, the distribution of the stablecoin remains concentrated among a small number of holders. Out of the 921 million FDUSD in existence, only 224 holders possess the token. Furthermore, these tokens have been transacted onchain a mere 1,471 times.
Binance, a leading cryptocurrency exchange, dominates the FDUSD landscape with its top three addresses. The leading address alone holds a staggering 90.96% of FDUSD's total supply. Binance's second wallet contains 7.65% of the circulating FDUSD, while the third wallet, also under Binance's control, holds 0.81%.
In addition to Binance, Wintermute owns the fourth-largest FDUSD wallet, comprising 0.16% of the total supply, equivalent to 1,502,179 FDUSD. The fifth-largest wallet, whose owner remains unidentified, controls 999,998 FDUSD, or 0.10% of the supply. Collectively, the top 100 holders own 921,269,821.68 FDUSD tokens, nearly the entire circulation.
FDUSD in the Market Landscape
FDUSD's impressive growth has positioned it as the sixth-largest USD-pegged token by market capitalization. While it still trails behind tokens like BUSD, TUSD, and DAI, FDUSD has made a significant impact in the market. It outperforms newer entrants like Paypal's PYUSD, Tron's USDD, and Gemini's GUSD stablecoin in terms of supply.
What are your thoughts on FDUSD's remarkable growth over the past 120 days? Share your opinions and insights in the comments section below.
Frequently Asked Questions
What precious metals do you have that you can invest in for your retirement?
Silver and gold are two of the most valuable precious metals. 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: Gold is one the oldest forms currency known to man. It is very stable and secure. Because of this, it is considered a great way of preserving wealth during times when there are uncertainties.
Silver: Silver has always been popular among investors. This is a great choice for people who want to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinium: Platinum is another form of precious metal that's becoming increasingly popular. Like gold and silver, it's very durable and resistant to corrosion. It's however much more costly than any of its counterparts.
Rhodium – Rhodium is used to make catalytic conversions. It's also used in jewelry making. 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 much more affordable. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
Should You Buy Gold?
Gold was a safe investment option for those who were in financial turmoil. Many people are now turning their backs on traditional investments like stocks and bonds, and instead look to precious metals like Gold.
Gold prices have been on an upward trend over recent years, but they remain relatively low compared to other commodities such as oil and silver.
Experts think this could change quickly. They say that gold prices could rise dramatically with another global financial crisis.
They also mention that gold is becoming more popular due to its perceived worth and potential return.
Here are some things to consider if you're considering investing in gold.
- Consider first whether you will need the money to save for retirement. You can save for retirement and not invest your savings in gold. Gold does offer an extra layer of protection for those who reach retirement age.
- Second, you need to be clear about what you are buying before you decide to buy gold. Each one offers different levels security and flexibility.
- Last but not least, gold doesn't provide the same level security as a savings account. Your gold coins may be lost and you might never get them back.
You should do your research before buying gold. And if you already own gold, ensure you're doing everything possible to protect it.
What Is a Precious Metal IRA?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These rare metals are often called “precious” as they are very difficult to find and highly valuable. They make excellent investments for your money and help you protect your future from inflation and economic instability.
Precious metals are sometimes called “bullion.” Bullion refers actually to the metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. This will ensure that you receive annual dividends.
Precious metal IRAs do not require paperwork nor annual fees, unlike regular IRAs. You pay only a small percentage of your gains tax. Plus, you get free access to your funds whenever you want.
What are the pros & cons of a Gold IRA?
An Individual Retirement Account (IRA), unlike regular savings accounts, doesn't require you to pay tax on interest earned. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. There are some disadvantages to this investment.
If you withdraw too many funds from your IRA at once, you may lose all your accumulated assets. You might also not be able to withdraw from your IRA until the IRS deems you to be 59 1/2. A penalty fee will be charged if you decide to withdraw funds.
You will also need to pay fees for managing your IRA. Most banks charge 0.5% to 2.0% per annum. Other providers may charge monthly management fees, ranging between $10 and $50.
Insurance will be required if you would like to keep your cash out of banks. In order to make a claim, most insurers will require that you have a minimum amount in gold. You may be required by some insurers to purchase insurance that covers losses as high as $500,000.
If you are considering a Gold IRA, you need to first decide how much of it you would like to use. Some providers limit the number of ounces of gold that you can own. Others allow you to pick your weight.
It's also important to decide whether or not to buy gold futures contracts. Futures contracts for gold are less expensive than physical gold. Futures contracts allow you to buy gold with more flexibility. Futures contracts allow you to create a contract with a specified expiration date.
You also need to decide the type and level of insurance coverage you want. The standard policy does NOT include theft protection and loss due to fire or flood. However, it does cover damage caused by natural disasters. Additional coverage may be necessary if you reside in high-risk areas.
You should also consider the cost of storage for your gold. Storage costs will not be covered by insurance. Safekeeping costs can be as high as $25-40 per month at most banks.
Before you can open a gold IRA you need to contact a qualified Custodian. A custodian helps you keep track of your investments, and ensures compliance with federal regulations. Custodians cannot sell your assets. Instead, they must hold them as long as you request.
Once you have chosen the right type of IRA to suit your needs, it is time to fill out paperwork defining your goals. Your plan should include information about the investments you want to make, such as stocks, bonds, mutual funds, or real estate. Your monthly investment goal should be stated.
Once you have completed the forms, you will need to mail them to your provider with a check and a small deposit. Once the company has received your application, they will review it and send you a confirmation email.
If you are thinking of opening a gold IRA for retirement, a financial professional is a great idea. Financial planners are experts at investing and can help you determine which type of IRA is best for you. They can help you find cheaper insurance options to lower your costs.
Is it a good retirement strategy to buy gold?
Although buying gold as an investment might not sound appealing at first, when you look at the average annual gold consumption worldwide, it is worth looking into.
Physical bullion bar is the best way to invest in precious metals. There are many ways to invest your gold. Research all options carefully and make an informed decision about what you desire from your investments.
For example, purchasing shares of companies that extract gold or mining equipment might be a better option if you aren't looking for a safe place to store your wealth. If you require cash flow, gold stocks can work well.
You also can put your money into exchange-traded funds (ETFs), which essentially give you exposure to the price of gold by holding gold-related securities instead of actual gold. These ETFs usually include stocks of precious metals refiners or gold miners.
What are some of the benefits of a gold IRA
The best way to save money for retirement is to place it in an Individual Retirement Account. It will be tax-deferred up until the time you withdraw it. You have total control over how much each year you take out. And there are many different types of IRAs. Some are better for those who want to save money for college. Others are designed for investors looking for higher returns. Roth IRAs permit individuals to contribute after the age 59 1/2. Any earnings earned at retirement are subject to tax. The earnings earned after they withdraw the funds aren't subject to any tax. This type of account might be a good choice if your goal is to retire early.
A gold IRA is similar to other IRAs because it allows you to invest money in various asset classes. Unlike a regular IRA which requires taxes to be paid on gains as you wait to withdraw them, a IRA with gold allows you to invest in multiple asset classes. People who want to invest their money rather than spend it make gold IRA accounts a great option.
Another benefit to owning IRA gold is the ability to withdraw automatically. It means that you don’t have to remember to make deposits every month. To avoid missing a payment, direct debits can be set up.
Finally, gold is one the most secure investment options available. Because it isn’t tied to any specific country, gold’s value tends to stay stable. Even during economic turmoil, gold prices tend to stay relatively stable. Gold is a good option for protecting your savings from inflation.
Statistics
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
cftc.gov
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- Do you want to keep your IRA gold at home? It's not legal – WSJ
bbb.org
irs.gov
How To
The best place online to buy silver and gold
To buy gold, you must first understand how it works. It is a precious metal that is very similar to platinum. Because of its resistance to corrosion and durability, it is very rare. It is very difficult to use and most people prefer to purchase jewelry made of it over actual bars of Gold.
Today, there are two types available in gold coins: one is legal tender and the other is bullion. Legal tender coins are designed for circulation in a country. They often have denominations like $1 or $5 or $10.
Bullion coins can only be used as investment currency. They increase in value due to inflation.
They cannot be used in currency exchanges. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. Each dollar spent earns the buyer 1 gram gold.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. If you want to purchase gold directly from a dealer, then a few options are available. First, you can visit your local coin store. You might also consider going through a reputable online seller like eBay. You can also purchase gold through private online sellers.
Individuals selling gold at wholesale prices and retail prices are known as private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. Private sellers will typically get you less than a coin shop, eBay or other online retailers. This option can be a good choice for investing in gold because it allows you to control the price.
An alternative option to buying gold is to buy physical gold. Physical gold is much easier to store than paper certificates, but you still have to worry about storing it safely. Physical gold must be kept safe in an impassible container, such as a vault.
To purchase gold by yourself, you can visit a bank and a pawnshop. A bank can give you a loan up to the amount you intend to invest in Gold. Small establishments that allow customers to borrow money for items they have brought are called pawnshops. Banks typically charge higher interest rates than pawn shops.
Another way to purchase gold is to ask another person to do it. Selling gold is also easy. A company such as GoldMoney.com can help you set up a simple bank account and get paid immediately.
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By: Jamie Redman
Title: The Rise of FDUSD: Approaching $1 Billion Market Capitalization
Sourced From: news.bitcoin.com/fdusd-nears-1-billion-cap-a-rapid-253-surge-in-supply-since-august/
Published Date: Sat, 02 Dec 2023 18:30:56 +0000
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