According to Nansen data, the supply of the First Digital USD (FDUSD) stablecoin has increased by 51% in the past 30 days, with a market capitalization approaching $394 million.
According to CoinGecko's data, based on this market capitalization, FDUSD is currently the eleventh-largest USD stablecoin by market value.
Nansen analyst Martin Lee stated, “Over 90% of FDUSD's supply is on the Binance platform, and there is currently no real use case in DeFi or any on-chain applications, so there is nothing really exciting happening with it at the moment.”