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First Digital USD priceFDUSD

Name: First Digital USD
Brand: Bitget
Price: 0.9977417 USD
Availability: InStock
Rating: 4.5 (100 reviews)

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FDUSD

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1 FDUSD = 0.9977 USD

Last updated 2024-11-21 11:53:29（UTC-0）

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First Digital USD price live data summary

The live price of First Digital USD is $0.9977 per (FDUSD / USD) today with a current market cap of $2.30B USD. The 24-hour trading volume is $10.05B USD. FDUSD to USD price is updated in real time. First Digital USD is -0.12% in the last 24 hours. It has a circulating supply of 2,308,094,000 .

What is the highest price of FDUSD?

FDUSD has an all-time high (ATH) of $1.06, recorded on 2023-07-29.

What is the lowest price of FDUSD?

FDUSD has an all-time low (ATL) of $0.9120, recorded on 2023-07-31.

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First Digital USD price prediction

What will the price of FDUSD be in 2025?

Based on FDUSD's historical price performance prediction model, the price of FDUSD is projected to reach $1.22 in 2025.

What will the price of FDUSD be in 2030?

In 2030, the FDUSD price is expected to change by -4.00%. By the end of 2030, the FDUSD price is projected to reach $2.39, with a cumulative ROI of +139.85%.

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First Digital USD technical analysis

First Digital USD price prediction

First Digital USD ratings

Average ratings from the community

4.6

100 ratings

This content is for informational purposes only.

About First Digital USD (FDUSD)

What Is First Digital USD?

First Digital USD (FDUSD) is a 1:1 USD-backed stablecoin launched in June 2023. It is issued by FD121 Limited, a subsidiary of the Hong Kong-based financial firm First Digital Limited. FDUSD is designed to provide stability and trust within the volatile cryptocurrency market. Each FDUSD is backed by one U.S. dollar or an equivalent asset held in reserve, ensuring a stable value that mitigates the risks associated with price fluctuations common in other cryptocurrencies.

The introduction of First Digital USD aims to bridge the gap between traditional financial systems and the digital currency ecosystem. By leveraging the transparency and efficiency of blockchain technology, FDUSD offers users a reliable digital currency for everyday transactions, remittances, and participation in decentralized finance (DeFi) applications. The stablecoin is initially available on Ethereum and BNB Chain, with plans to expand to other blockchain networks in the future.

Resources

Official Documents: https://firstdigitallabs.com/workspace/uploads/FDUSD-Whitepaper-25216064ca0cc8.pdf

Official Website: https://firstdigitallabs.com/

How Does First Digital USD Work?

First Digital USD operates on the Ethereum and BNB Chain networks, adhering to the ERC-20 and BEP-20 token standards. This ensures compatibility with a wide range of decentralized applications and cryptocurrency exchanges. The stablecoin's reserves are held in segregated accounts by First Digital Trust Limited, a registered trust company in Hong Kong. This structure ensures that FDUSD reserves are not commingled with other assets, maintaining the integrity and security of the 1:1 backing.

Transparency is a key feature of FDUSD. The issuer provides an "attestation of reserve" report, audited by independent auditors, to demonstrate that the circulating supply of FDUSD is fully supported by an equivalent value in cash or cash equivalents. This rigorous auditing process helps build trust and confidence among users, ensuring that FDUSD can be redeemed at any time for its equivalent value in U.S. dollars.

FDUSD's programmability allows for integration with smart contracts, enabling automated and efficient transactions within the blockchain ecosystem. Users can utilize FDUSD for various DeFi activities such as yield farming, lending, and staking. The stablecoin's fast transaction speeds and low fees make it an attractive option for cross-border payments and everyday financial transactions, providing a seamless and cost-effective alternative to traditional banking methods.

What Are the Use Cases of First Digital USD?

1. Remittances

FDUSD offers a fast, cost-efficient solution for cross-border transactions. Traditional remittance services can be slow and expensive, often involving high fees and lengthy processing times. With FDUSD, users can transfer funds internationally at a fraction of the cost and in significantly less time. The stability of FDUSD ensures that the value transferred remains consistent, making it an attractive option for remittance services.

2. Payment Solutions

FDUSD can be used by businesses and individuals for processing payments with lower fees and faster transaction times compared to traditional payment methods. This is particularly valuable for international transactions, which often incur additional currency conversion and cross-border transfer fees. By accepting FDUSD, merchants can reduce transaction costs and improve the efficiency of their payment systems.

3. Hedging Against Price Volatility

In the volatile cryptocurrency market, FDUSD serves as a reliable hedge. Investors can convert other cryptocurrencies into FDUSD to lock in gains or protect their investments from extreme market swings. This ability to quickly and easily move assets into a stable, USD-backed token provides a secure way to manage market volatility.

4. Decentralized Finance (DeFi) Applications

FDUSD can be used throughout various DeFi platforms for activities such as yield farming, lending, borrowing, and staking. As a stable and widely accepted stablecoin, FDUSD enables users to participate in DeFi protocols with reduced risk of price volatility, ensuring more predictable returns on their investments.

5. Stable Store of Value

For individuals and businesses looking for a stable store of value, FDUSD provides a reliable alternative to other cryptocurrencies that can experience significant price fluctuations. Holding FDUSD allows users to maintain their assets in a digital form without exposure to the volatility of other digital assets.

6. Programmable Money

FDUSD's programmability allows it to be integrated into smart contracts, enabling automated and efficient transactions within the blockchain ecosystem. This can be particularly useful for creating automated payment systems, escrow services, and other financial agreements that benefit from the transparency and security of blockchain technology.

What Are the Risks of FDUSD?

1. Depegging Risks

FDUSD's value is pegged to the U.S. dollar at a 1:1 ratio, meaning each FDUSD token should always be worth one U.S. dollar. However, this pegging mechanism relies on the reserves backing FDUSD being sufficient to meet all redemption demands. If the reserves are insufficient or illiquid, FDUSD could depeg from the U.S. dollar, causing its value to fluctuate.

2. Operational Risks

FDUSD is subject to operational risks, including fraud and cyber risks. As with any digital asset, the risk of hacking, technical failures, and fraud exists. These risks can affect exchanges, custody services, and other third-party services that FDUSD relies on. A significant operational failure could impact the stability and usability of FDUSD.

3. Regulatory Risks

The regulatory environment for stablecoins is rapidly evolving and can vary significantly between jurisdictions. Changes in regulations could impact the operation of FDUSD, including its issuance, trading, and use. Regulatory actions against stablecoin issuers or related entities could also affect the stability and value of FDUSD.

4. Counterparty Risks

FDUSD involves third-party financial intermediaries, such as exchanges, market makers, and banks. These intermediaries introduce counterparty risks, where the failure or financial instability of one party could impact FDUSD's operations. For example, delays in redemptions or additional costs could arise from these dependencies.

5. Market Risks

The stablecoin market is highly competitive, with numerous alternatives available. New entrants and changes in market preferences could affect the demand and liquidity for FDUSD. Additionally, macroeconomic factors and changes in market sentiment towards stablecoins could impact FDUSD's acceptance and stability.

6. Technology Risks

FDUSD operates on blockchain networks (Ethereum and BNB Chain), which come with their own set of technological risks. These include potential vulnerabilities in the blockchain's consensus mechanisms, smart contract bugs, and network congestion. Any significant technological issue could affect FDUSD's performance and reliability.

7. Custody Risks

The reserves backing FDUSD are held by First Digital Trust Limited in segregated accounts. While this structure enhances security, there are still risks associated with the custody of assets. Any mismanagement or failure of the custodian could impact the backing of FDUSD.

First Digital USD price performance in USD

24h7 days30 days90 days1 yearAll-time

-0.12%-0.23%-0.11%-0.31%-0.13%+0.16%

First Digital USD price history in USD

The price of First Digital USD is -0.13% over the last year. The highest price of FDUSD in USD in the last year was $1.01 and the lowest price of FDUSD in USD in the last year was $0.9854.

TimeLowHigh

24h$0.9964$1

7d$0.9960$1

30d$0.9954$1

90d$0.9954$1

1y$0.9854$1.01

All-time$0.9120(2023-07-31, 1 years ago )$1.06(2023-07-29, 1 years ago )

Historical data

First Digital USD market information

Market cap

$2,302,881,650.45

-0.12%

Fully diluted market cap

$2,302,881,650.45

-0.12%

Volume (24h)

$10,054,552,685.81

+15.00%

Market rankings

#48

Circulation rate

+99.00%

24h volume / market cap

4.366

Circulating supply

2,308,094,000 FDUSD

Total supply / Max supply

2.31B FDUSD

-- FDUSD

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First Digital USD news

FDUSD stablecoin launches on Sui blockchain with $1.5B TVL

Grafa•2024-11-21 10:37

First Digital introduces its stablecoin FDUSD as a native token in Sui

Bitget•2024-11-20 14:45

Hoth Therapeutics Allocates $1M to Bitcoin Amid Rising Institutional Adoption

Newscrypto•2024-11-19 16:00

First Digital’s FDUSD Stablecoin Is Officially Live on Sui

Daily Hodl•2024-11-19 16:00

Binance Launchpool Adds New Stablecoin, USUAL

Binance is to launch the USUAL token on November 19 with pre-market access. Users can farm USUAL tokens via BNB and FDUSD pools starting November 15. Pre-market access is limited to eligible users with a 40,000 USUAL max holding.

CoinEdition•2024-11-13 16:00

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FAQ

What is the current price of First Digital USD?

The live price of First Digital USD is $1 per (FDUSD/USD) with a current market cap of $2,302,881,650.45 USD. First Digital USD's value undergoes frequent fluctuations due to the continuous 24/7 activity in the crypto market. First Digital USD's current price in real-time and its historical data is available on Bitget.

What is the 24 hour trading volume of First Digital USD?

Over the last 24 hours, the trading volume of First Digital USD is $10.05B.

What is the all-time high of First Digital USD?

The all-time high of First Digital USD is $1.06. This all-time high is highest price for First Digital USD since it was launched.

Can I buy First Digital USD on Bitget?

Yes, First Digital USD is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy First Digital USD guide.

Can I get a steady income from investing in First Digital USD?

Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

Where can I buy First Digital USD with the lowest fee?

Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders. You can trade on the Bitget exchange.

Where can I buy First Digital USD (FDUSD)?

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1. Log in to your Bitget account.

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3. Hover over your profile icon, click on “Unverified”, and hit “Verify”.

4. Choose your issuing country or region and ID type, and follow the instructions.

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Cryptocurrency investments, including buying First Digital USD online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy First Digital USD, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your First Digital USD purchase. This page and any information included are not an endorsement of any particular cryptocurrency. Any price and other information on this page is collected from the public internet and can not be consider as an offer from Bitget.

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