Recent data indicates that the market capitalization of the newly introduced stablecoin, first digital usd (FDUSD), is approaching the $1 billion threshold. This growth, a 253% increase in supply, has been recorded since August 4, 2023. Currently, the circulation of FDUSD tokens stands at 921 million.
FDUSD's Market Value Climbs Toward $1 Billion in Just 120 Days
Since its inception, FDUSD's market value is on the brink of reaching $1 billion, having expanded its supply by a substantial 253% over the past 120 days from August 4, 2023. To date, the issuer of FDUSD has released three attestations, with the latest monthly report concluding in October. As of December 2, 2023, the circulation of first digital usd (FDUSD) stands at approximately 921,272,192 tokens.
FDUSD Holders and Transactions
Of the 921 million FDUSD in existence, a mere 224 holders possess the stablecoin, which has been transacted onchain only 1,471 times. Dominating the FDUSD landscape, Binance holds the top three addresses. The leading address alone accounts for a staggering 90.96% of FDUSD's total supply. Following closely, Binance's second wallet contains 7.65% of the circulating FDUSD. The third wallet, also under Binance's control, holds 0.81%.
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 Comparison to Other USD-Pegged Tokens
FDUSD's rising prominence has positioned it as the sixth-largest USD-pegged token by market capitalization. While it closely trails behind BUSD, TUSD, and DAI, FDUSD is 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 about FDUSD's growth over the past 120 days? Share your thoughts and opinions about this subject in the comments section below.
Frequently Asked Questions
What are some of the benefits of a gold IRA
You can save money on retirement by putting your money into an Individual Retirement Account. It's not subject to tax until you withdraw it. You can decide how much money you withdraw each year. And there are many different types of IRAs. Some are better suited for people who want to save for college expenses. Others are designed for investors looking for higher returns. Roth IRAs, for example, allow people to contribute after they turn 59 1/2. They also pay taxes on any earnings when they retire. These earnings don't get taxed if they withdraw funds. This account may be worth considering if you are looking to retire earlier.
Because you can invest money in many asset classes, a gold IRA works similarly to other IRAs. Unlike a regular IRA, you don't have to worry about paying taxes on your gains while you wait to access them. This makes gold IRA accounts a great choice for those who want their money to be invested, not spent.
You can also enjoy automatic withdrawals, which is another benefit of owning your gold through an IRA. This means that you don't need to worry about making monthly deposits. To avoid missing a payment, direct debits can be set up.
Finally, gold is one of the safest investment choices available today. Because it's not tied to any particular country, its value tends to remain steady. Even in times of economic turmoil gold prices tend to remain stable. It is therefore a great choice for protecting your savings against inflation.
What does a gold IRA look like?
Individuals who want to invest with precious metals may use the Gold Ira accounts, which are tax-free.
Physical gold bullion coin can be purchased at any time. You don’t have to wait to begin investing in gold.
An IRA lets you keep your gold for life. Your gold assets will not be subjected tax upon your death.
Your gold is passed to your heirs without capital gains tax. You don't need to include your gold in your final estate report, as it isn't part of the estate.
You'll first have to set up an individual retirement account (IRA) to open a gold IRA. After you have done this, an IRA custodian will be assigned to you. This company acts like a middleman between the IRS and you.
Your gold IRA custodian will handle the paperwork and submit the necessary forms to the IRS. This includes filing annual reports.
Once you've set up your gold IRA, it's possible to buy gold bullion. The minimum deposit is $1,000. The minimum deposit is $1,000. However, you will receive a higher percentage of interest if your deposit is greater.
Taxes will apply to gold that you take out of an IRA. If you take out the whole amount, you'll be subject to income taxes as well as a 10 percent penalty.
If you only take out a very small percentage of your income, you may not need to pay tax. There are some exceptions, though. There are some exceptions. For instance, if you take out 30% or more from your total IRA assets, federal income taxes will apply plus a 20 percent penalty.
It is best to not take out more than 50% annually of your total IRA assets. If you do, you could face severe financial consequences.
Can I own a gold ETF inside a Roth IRA
This option may not be available in a 401(k), but you should look into other options such as an Individual Retirement account (IRA).
An IRA traditional allows both employees and employers to contribute. Another way to invest in publicly traded companies is through an Employee Stock Ownership Plan.
An ESOP provides tax advantages because employees share ownership of company stock and profits the business generates. The money in the ESOP can then be subject to lower tax rates than if the money were in the individual's hands.
A Individual Retirement Annuity (IRA), is also available. An IRA allows for you to make regular income payments during your life. Contributions made to IRAs are not taxable.
What tax is gold subject in an IRA
The fair market value of gold sold is the basis for tax. You don't pay taxes when you buy gold. It is not income. If you sell it after the purchase, you will get a tax-deductible gain if you increase the price.
Loans can be secured with gold. Lenders seek to get the best return when you borrow against your assets. This usually involves selling your gold. The lender might not do this. They may keep it. Or they might decide to resell it themselves. You lose potential profits in either case.
In order to avoid losing your money, only lend against your precious metal if you plan to use it to secure other collateral. If you don't plan to use it as collateral, it is better to let it be.
Is buying gold a good retirement plan?
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 bars are the most popular way to invest in gold. There are other ways to invest gold. It's best to thoroughly research all options before you make a decision.
If you don’t need a safe place for your wealth, then buying shares of mining companies or companies that extract it might be a better alternative. If you need cash flow to finance your investment, then gold stocks could be a good option.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs usually include stocks of precious metals refiners or gold miners.
What are the fees for an IRA that holds gold?
An Individual Retirement Account (IRA) fee is $6 per month. This includes account maintenance fees and investment costs for your chosen investments.
To diversify your portfolio you might need to pay additional charges. These fees vary depending on what type of IRA you choose. Some companies offer free checking, but charge monthly fees for IRAs.
In addition, most providers charge annual management fees. These fees are usually between 0% and 1%. The average rate per year is.25%. These rates can be waived if the broker is TD Ameritrade.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
bbb.org
investopedia.com
irs.gov
How To
Investing in gold vs. investing in stocks
It might seem risky to invest in gold as an investment vehicle these days. The reason behind this is that many people believe that gold is no longer profitable to invest in. This belief is based on the fact that gold prices are being driven down by global economic conditions. They think that they would lose money if they invested in gold. In reality, however, there are still significant benefits that you can get when investing in gold. We'll be looking at some of these benefits below.
One of the oldest currencies known to man is gold. It has been in use for thousands of year. It was used all around the world as a reserve of value. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.
You must first decide how much you are willing and able to pay per gram to decide whether or not gold should be your investment. The first thing you should do when considering buying gold bullion is to decide how much you will spend per gram. You can always ask a local jeweler what the current market rate is if you don't have it.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
Another thing to remember when thinking about whether or not you should buy gold is the amount of gold you plan on purchasing. It makes sense to save any gold you don't need to purchase if your goal is to use it for wedding rings. This is not a wise decision if you're looking to invest in long-term assets. You can profit if you sell your gold at a higher price than you bought it.
We hope our article has given you a better understanding of gold as an investment tool. We strongly recommend that you research all available options before making any decisions. Only then will you be able to make an informed decision.
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By: Jamie Redman
Title: FDUSD Nears $1 Billion Cap — A Rapid 253% Surge in Supply Since August
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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