Analyst: USD1 has had a dismal start, with limited capital inflows and a lack of real demand

According to CNBC, data shows that the stablecoin USD1 launched by Trump's World Free Finance has had a poor start, with weak capital inflows and a lack of real demand. Kaiko analyst Adam Morgan McCarthy stated that the token has not yet successfully transitioned from a decentralized trading platform to a centralized trading platform serving the mass market. According to Kaiko's research, the daily trading volume of USD1 on PancakeSwap, a decentralized exchange based on Binance Smart Chain, once exceeded $14 million. However, the trading volume on the Binance platform itself is only $8 million. And over half of the liquidity on PancakeSwap comes from three wallets, "these are market making wallets, not real demand," McCarthy said. USD1 has not yet shown widespread market acceptance, for example, Ripple's newly launched RLUSD has an average daily trading volume of about $50 million, far exceeding USD1. One of the main reasons for falling behind is the lack of institutional partners or market promotion incentives, which are often key factors that gain attention in the early stages of the stablecoin market.