Recent data reveals that the market capitalization of the recently introduced stablecoin, first digital usd (FDUSD), is rapidly approaching the $1 billion mark. This impressive growth represents a remarkable 253% increase in supply since August 4, 2023. Currently, there are approximately 921 million FDUSD tokens in circulation.
FDUSD's Market Value on the Brink of $1 Billion
Since its inception, FDUSD's market value has been steadily climbing, and it is now on the verge of reaching $1 billion. Over the past 120 days, starting from August 4, 2023, the supply of FDUSD has expanded by an astounding 253%. The issuer of FDUSD has released three attestations so far, with the latest monthly report concluding in October. As of December 2, 2023, there are approximately 921,272,192 FDUSD tokens in circulation.
Token Distribution and Top Holders
Out of the 921 million FDUSD tokens in existence, only 224 holders possess this stablecoin, and it has been transacted onchain a mere 1,471 times. Binance dominates the landscape, holding the top three addresses for FDUSD. The leading address alone accounts for an astonishing 90.96% of FDUSD's total supply. Binance's second wallet holds 7.65% of the circulating FDUSD, while the third wallet, also controlled by Binance, holds 0.81%.
Wintermute owns the fourth-largest FDUSD wallet, which comprises 0.16% of the total supply, equivalent to 1,502,179 FDUSD. The fifth-largest wallet, whose owner remains unidentified, controls 999,998 FDUSD, representing 0.10% of the supply. In total, the top 100 holders collectively own 921,269,821.68 FDUSD tokens, which is nearly the entire circulation.
FDUSD's Position in the Market
FDUSD's rising prominence has positioned it as the sixth-largest USD-pegged token by market capitalization. Although it falls slightly behind BUSD, TUSD, and DAI, FDUSD is still considerably smaller compared to giants like USDC and USDT. However, it boasts a larger supply than newer entrants like Paypal's PYUSD, Tron's USDD, and Gemini's GUSD stablecoin.
What are your thoughts on FDUSD's impressive growth over the past 120 days? Feel free to share your opinions and thoughts about this subject in the comments section below.
Frequently Asked Questions
How does a gold IRA generate interest?
It depends on how many dollars you put into it. If your income is $100,000, then yes. You can't if you have less than $100,000
How much money you place in an IRA will determine how it earns interest.
If your annual retirement savings contributions exceed $100,000, you might want to open a brokerage account.
Although you'll likely earn higher interest, there are greater risks. If the stock market crashes you don't wish to lose your entire investment.
An IRA is better if you have $100,000 to invest per year. At least until the market starts growing again.
Are gold- and silver-IRAs a good idea.
This could be a great way to simultaneously invest in gold and silver. There are other options as well. Contact us anytime if you have questions about these types investment options. We are always here to help!
Can you make money in a gold IRA
If you want to make money on an investment, you need to do two things firstly, understand how the market operates, and secondly, know what kind of products are available.
Trading is not a good idea if you don’t know what you need.
Also, you should find the broker that provides the best service possible for your account type.
There are many account options available, including Roth IRAs (standard IRAs) and Roth IRAs (Roth IRAs).
If you have other investments such as bonds or stocks, you might also consider a rollover.
How does an IRA with gold or silver work?
An IRA that is gold or silver allows you the opportunity to invest in precious metals without paying tax on any gains. These precious metals are an attractive investment for anyone looking to diversify their portfolios.
If you are over 59 1/2, income tax is not due on the interest earned from these accounts. Any appreciation in the account's worth does not attract capital gains tax. However, there are limitations on how much money you can put into this type of account. The minimum amount that you can invest is $10,000. You cannot invest at all if you are under age 59 1/2. Maximum annual contribution is $5,000.
Your beneficiaries could receive less if you die before your retirement. After you have paid all your expenses, your estate should include sufficient assets to cover the balance of your account.
While some banks offer gold and/or silver IRA options to their customers, others require them to open a regular brokerage bank account that allows you to purchase certificates or shares.
What are the pros & con's of a golden IRA?
For those who don't have the ability to access traditional banking services but want to diversify their portfolios, a gold IRA can be a great investment option. You can invest in precious metals like gold, silver, or platinum, without having to pay taxes until the gains are withdrawn.
However, early withdrawals of funds will incur ordinary income tax. These funds are not held in the country so creditors cannot seize them if you default on your loan.
If you are looking to own gold without worrying about taxes, a golden IRA could be for you.
How do I choose the right IRA for me?
The first step to finding an IRA for you is understanding your account type. This will include whether you're looking for a Roth IRA or a traditional IRA. You should also know how much money your have available to invest.
The next step in determining the right provider for your situation is to decide. Some providers offer both accounts and others only specialize in one.
Finally, you should consider the fees associated with each option. There may be annual maintenance fees, as well as other fees. Fees for each provider can vary widely. One example is that some providers charge a monthly subscription based upon the number of shares you hold. Some providers charge only once a quarter.
- Silver must be 99.9% pure • (forbes.com)
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
Precious metals approved by the IRA
IRA-approved precious materials are excellent investments whether you're looking for ways to save money for retirement or to invest in your next business venture. Diversifying your portfolio can protect you from inflation with a variety of options, including silver coins and gold bars.
Precious metal investment products come in two main forms. Physical bullion products such as bars and coins are considered physical assets because they exist in tangible form. Exchange-traded Funds (ETFs), however, are financial instruments that track and report the price movements in an underlying asset. ETFs can track the movement of gold or other metals. ETFs trade just like stocks, and investors can purchase shares from the company that is issuing them.
There are many different types of precious metallics available to purchase. Silver and gold are commonly used for jewellery making and decoration. However, platinum and palladium tend to be associated with luxury goods. Palladium tends to hold its value better than platinum, which makes it ideal for industrial uses. While silver can also be useful in industrial applications, it is often preferred for decorative purposes.
Due to the high cost of refining and mining raw materials, physical bullion products are more expensive. But they are generally safer than traditional paper currencies and provide buyers with more security. In particular, when the U.S. dollar is less powerful than it once was, consumers might lose confidence in the currency. However, physical bullion products don't rely on trust between nations or companies. They are instead backed by central banks and governments, which gives customers security.
Demand and supply affect gold prices. In other words, demand drives the price up. However, supply is greater than demand and prices fall. Investors have the opportunity to profit by fluctuations in gold's price. These fluctuations are good for investors who have physical bullion products as they get a better return on their investment.
Precious metals, unlike other investments, are immune to economic recessions or changes in interest rates. As long as demand remains strong, the price of gold will continue to rise. This is why precious metals are considered safe havens when times are uncertain.
The most widely used precious metals include:
- Gold – It is the oldest form of precious metallic and is sometimes called “yellow material”. Although gold is a common household name, it is a very rare element found naturally underground. Most of the world’s remaining gold reserves are found in South Africa.
- Silver – After gold, silver is the second most precious precious metal. Silver is also mined from natural resources, just like gold. However, silver is more commonly extracted from ore than from rock formations. Silver is widely used in both industry and commerce due to its durability, conductivity and resistance against tarnishing. The United States is responsible for 98% worldwide silver production.
- Platinum – Platinum is the third-most valuable precious metal. It has many industrial uses, including catalytic converters, fuel cells, and high-end medical equipment. It is used in dentistry for dental crowns, fillings and bridges.
- Palladium – Palladium ranks fourth in the list of most valuable precious metals. Its popularity is growing rapidly among manufacturers because of its strength and stability. Palladium can also be used in electronics, military technology, and automobiles.
- Rhodium – Rhodium is the fifth most valuable precious metal. Rhodium is very rare but is highly sought for its use in automotive catalysts.
- Ruthenium, the sixth most precious precious metal, is Ruthenium. While there are only limited supplies of platinum and palladium, ruthenium is plentiful. It is used for steel manufacturing, chemical manufacturing, and aircraft engines.
- Iridium – Iridium ranks seventh in the list of most valuable precious metals. Iridium has a significant role in satellite technology. It is used to construct orbiting satellites that transmit television signals, telephone calls, and other communications.
- Osmium: Osmium is eighth most valuable precious metallic. Osmium is commonly used in nuclear reactors because of its ability to withstand extreme temperatures. It is also used in cutting tools, jewelry, and medicine.
- Rhenium – Rhenium is the ninth most valuable precious metal. Rhenium can be used to refine oil and gas, make semiconductors and rocketry.
- Iodine: Iodine, the tenth highest-valued precious metal, is also known as Iodine. Iodine has been used in radiography, pharmaceuticals, and photography.
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