**[World Liberty Financial's USD1 Market Cap Shrinks by Over $400 Million in Two Weeks, Dropping to Approximately $4.02 Billion]** Odaily Planet Daily reports that the market cap of World Liberty Financial's stablecoin USD1 has decreased by over $400 million in the past two weeks, primarily due to large-scale redemptions on Ethereum and BNB Chain. As of Monday, USD1's market cap stands at approximately $4.02 billion, down about 9.1% from $4.43 billion on October 6. On-chain data shows that between October 6 and October 15, Ethereum recorded a cumulative net redemption of $184.6 million, involving 63 token burns, while BNB Chain saw a cumulative redemption of $200.43 million, involving 12 burns. Notably, nearly $200 million in redemptions on BNB Chain originated from an unidentified address, with the controlling party and reasons for redemption yet to be determined. During the same period, USD1's supply on Solana remained stable at approximately $1.42 billion, failing to offset the contraction in supply on other networks. USD1's price remained between $0.998 and $1, without sustained depegging. Its Ethereum supply decreased by 11.45%, a drop larger than that of USDe, USDC, and circulating USDT. (Cointelegraph)
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