What is First Digital USD?
First Digital USD (FDUSD) is a stablecoin currently ranked 52nd by market capitalization across all crypto assets we track. Stablecoins are designed to track a target value (most often $1). They are the primary on-chain settlement layer for trading, lending, and remittance.
Market position
At the current price of $0.9989, First Digital USD carries a market capitalization of $1.15B. Daily trading volume across exchanges sits at roughly $144.07M. That works out to a 24-hour turnover of about 12.55% of the float — elevated turnover, often a signal of active narrative-driven trading.
Price action across timeframes
Over the past week, First Digital USD has moved ++0.05%; over the past 30 days, First Digital USD has moved -0.09%. Short-term and long-term direction diverge here, which often happens at inflection points where a trend is either reversing or pausing.
Cycle position
First Digital USD is currently trading near all-time high (all-time high of $1.03, -2.8% from peak). Typically the late-cycle distribution phase, where speculators look for euphoric tops. From its all-time low of $0.8510, current pricing represents a +17% recovery.
Supply & dilution
The circulating supply stands at 377,147,454 FDUSD. There is no explicit cap on maximum supply — issuance follows a programmatic schedule defined in the protocol.
Volatility profile
Recent price action puts First Digital USD in the Low-volatility bucket. The asset has been relatively stable, with moves typical of large-cap, mature assets. Over the past 30 days, the 30-day move totals -0.09%, which traders should weigh against position sizing and stop-loss placement.
How to evaluate First Digital USD
A balanced read on FDUSD typically considers three lenses:
- Network & on-chain activity — does usage justify the valuation? Live activity (above) should ideally trend up over time.
- Cycle position — current price relative to ATH (above) sets the risk/reward asymmetry. Closer to ATL is mathematically lower downside; closer to ATH is higher downside.
- Comparable assets — how is FDUSD performing against the broader crypto market (BTC, total market cap) and against peers in the same sector? The benchmarks chart on this page shows this directly.
This page combines live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model so you can answer those three questions in one place. Nothing on this page is investment advice — it's a structured starting point for your own due diligence.