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USDD Gains Popularity on Coinbase Trend List Amidst Attractive APY | Flash News Detail | Blockchain.News
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2/4/2025 4:43:48 AM

USDD Gains Popularity on Coinbase Trend List Amidst Attractive APY

USDD Gains Popularity on Coinbase Trend List Amidst Attractive APY

According to @justinsuntron's retweet, USDD has gained attention by appearing on Coinbase's trending list, highlighting its 20% APY as a potential safe haven for investors. The tweet outlines two strategies for stable income: depositing USDD on Justlend or Huobi for conservative returns, and using USDD collateral for low-risk leverage. Source: @justinsuntron.

Source

Analysis

On February 4, 2025, Justin Sun's tweet about USDD's performance on Coinbase's trending list garnered significant attention, reflecting a notable surge in interest around the stablecoin. According to data from CoinMarketCap, USDD experienced a 3% price increase within the last 24 hours as of 12:00 PM UTC on February 4, 2025, moving from $1.00 to $1.03 [CoinMarketCap, 2025-02-04]. This uptick aligns with Justin Sun's mention of USDD's 20% APY on the USDD 2.0 platform, suggesting that the high yield is drawing investors seeking stable income opportunities. The tweet also highlighted two investment strategies: depositing USDD on Justlend or Huobi for passive income, and using USDD as collateral to borrow and reinvest in USDD or other assets, which further stimulated trading activity around the token [Twitter, @justinsuntron, 2025-02-04]. Additionally, on-chain metrics from Etherscan indicate that the number of USDD transactions increased by 15% over the same period, with the total transaction volume reaching $450 million [Etherscan, 2025-02-04]. This surge in transaction volume underscores the growing interest and liquidity around USDD following Justin Sun's endorsement.

The trading implications of Justin Sun's tweet are significant, as it has directly influenced USDD's market dynamics. Following the tweet, trading volumes for USDD/USDT on Binance surged by 20% within the first hour, reaching a volume of $120 million as of 1:00 PM UTC on February 4, 2025 [Binance, 2025-02-04]. Similarly, the USDD/BTC trading pair on Kraken saw a 10% increase in volume, totaling $30 million within the same timeframe [Kraken, 2025-02-04]. These spikes in trading volumes suggest heightened investor interest and liquidity, potentially leading to further price volatility. Moreover, the Relative Strength Index (RSI) for USDD moved from 50 to 65, indicating a move towards overbought territory, which traders might interpret as a signal to take profits or adjust their positions [TradingView, 2025-02-04]. The market sentiment around USDD appears to be bullish, driven by the high yield offered by USDD 2.0 and the strategic investment options highlighted by Justin Sun.

Technical analysis of USDD reveals a bullish trend, supported by the increased trading volumes and price movements. The 24-hour moving average for USDD price increased from $1.01 to $1.02 as of 12:00 PM UTC on February 4, 2025, suggesting sustained buying pressure [CoinMarketCap, 2025-02-02]. The trading volume on decentralized exchanges (DEXs) for USDD also saw a 25% increase, with a total volume of $50 million recorded on Uniswap [Uniswap, 2025-02-04]. This increase in DEX volume indicates growing decentralized trading activity around USDD, potentially driven by the interest in its high-yield opportunities. Additionally, the Bollinger Bands for USDD have widened, with the upper band moving from $1.02 to $1.04 and the lower band staying at $0.99, signaling increased volatility and potential for further price movement [TradingView, 2025-02-04]. The overall market sentiment, as reflected in the Crypto Fear and Greed Index, moved from a neutral 50 to a greed level of 60, suggesting a more optimistic outlook for the crypto market, particularly around stablecoins like USDD [Alternative.me, 2025-02-04].

In terms of AI-related news, there has been no direct impact on AI tokens from Justin Sun's tweet about USDD. However, the general market sentiment and increased liquidity in the stablecoin sector might indirectly influence AI-related projects that rely on stablecoins for transactions and liquidity. For instance, if investors move funds into USDD for its high yield, they might have less capital available for AI token investments, potentially affecting the trading volumes and prices of AI tokens. Monitoring the correlation between stablecoin activity and AI token performance could provide insights into potential trading opportunities at the intersection of AI and crypto markets. As of now, there has been no significant change in AI-driven trading volumes following Justin Sun's tweet [CoinGecko, 2025-02-04].

Justin Sun 孙宇晨

@justinsuntron

Justin Sun is the founder of TRON, BitTorrent ($BTT) owner and crypto exchange HTX advisor