As the digital asset markets strive to reach new heights, a crypto enthusiast on the X platform spotted an upcoming altcoin, capturing global attention for its remarkable growth.
Usual (USUAL), a community-focused governance token powered by decentralized fiat stablecoin issuer Usual Labs, is currently witnessing an impressive ride. Over the past day, USUAL price steadily ascended from a low of $0.6672 to a current high of $0.85 at the time of writing. The token recorded an increase of 27.85% in the last 24 hours.
The crypto’s trading volume rose by 39.98% to $101.32 million while its market cap hit $282.66 million after an increase of 24.51% over yesterday. This uptrend has been broadly fueled by robust user interest and a rising Total Value Locked (TVL).
Usual TVL Hit an ATH
According to DeFiLlama, USUAL’s total value locked soared to $772.21 million, as of December 11, climbing to the highest level this year. This new development signals robust user confidence and increasing network activity within the Usual ecosystem, signaling its rising demand and adoption.
Typically, an increase in Total Value Locked is associated with increasing interest and utility for an asset. This establishes positive sentiment leading to price surges as users display buying power.
This activity has been observed with Usual’s TVL skyrocketing and its price ascending. With the token’s TVL continues rising higher over the previous months, this indicates that there’s a sustained capital inflow.
The role of USUAL coin in the Web3 space
The rise of the token’s trading volume is connected with the growth of Usual Labs, a company behind the crypto. Usual Labs, a decentralized fiat stablecoin issuer, is a revolutionary platform that specializes in stablecoins, with its key investment vehicle being USD0. Recently, the multi-chain platform secured $7.5 million in a funding round, led by IOSG Ventures. Contributors like X Ventures, Bing Ventures, Avid3, Flowdesk, Starkware, Mantle, and GSR also participated in the funding.
The platform launched the USUAL coin, serving as a governance token to redefine the revenue distribution and the profit-sharing models within the stablecoin ecosystem. The USUAL token has already garnered incredible traction, with currently a TVL of $772.21 million and an active user base of over 55,000 individuals.
The platform functions as a connection between TradFi (traditional finance) and DeFi (decentralized finance). It strives to make stablecoins more decentralized and accessible by integrating tokenized RWAs (Real-World Assets) such as those from Hashnote, Mountain Protocol, Ondo, and BlackRock. Users can convert these RWAs into an on-chain and permissionless stablecoin called USD0.
The multi-chain platform connects with various tokenized RWAs to make stablecoin transactions more reliable and seamless. Its ecosystem is established on three major products: the community-focused governance token USUAL, the liquidity staking token USD0++, and the stablecoin USD0, creating a strong product trio.
