Gate News Bot news, July 11, according to CoinMarketCap data, as of the time of writing, FDUSD (First Digital USD) is currently priced at 0.99 USD, with a 24-hour fall of 0.02%, reaching a high of 1.00 USD and a low of 0.99 USD. The current market capitalization is approximately 1.45 billion USD.
FDUSD is a stablecoin pegged to the US dollar at a 1:1 ratio. Each FDUSD is fully backed by 1 US dollar or its equivalent in fair assets, which are securely held by qualified custodians in regulated custody institution accounts. FDUSD aims to provide users with stable, secure, and convenient digital dollar services, which can be used in various scenarios such as global payments, international remittances, and fund management.
Important news about FDUSD recently:
1️⃣ First Digital will take legal action regarding the allegations against Justin Sun
First Digital announced that it will take legal action regarding the allegations involving Justin Sun. This decision was made after the temporary decoupling of FDUSD, aiming to uphold the company’s reputation and the market confidence in the stablecoin.
2️⃣ FDUSD redeems 26 million USD in the short term
After experiencing a brief decoupling event, First Digital quickly took action to redeem approximately 26 million FDUSD. This move helped stabilize the price of FDUSD and reestablish its peg to the US dollar.
3️⃣ FDUSD launches on the Sui network, driving DeFi development
The FDUSD stablecoin, with a total market capitalization of $3 billion, has officially landed on the Sui network. This move aims to promote the development of decentralized finance (DeFi) and bring more liquidity and use cases to the Sui ecosystem.
From a technical perspective, FDUSD is currently maintaining a narrow fluctuation range of 0.99-1.00 USD, demonstrating strong price stability. On the fundamental side, First Digital is actively responding to market challenges and continuously expanding the application scenarios of FDUSD, which is beneficial for enhancing its long-term development prospects.
This message is not intended as investment advice; investors should be aware of market volatility risks.
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