USD1 Price: Live Chart & Peg Tracker

Live USD1 price right now

The chart above shows USD1 trading against the dollar (typically via the USD1/USDT pair) in real time. Resist the instinct to read it like a crypto chart. For a stablecoin, a healthy chart is a boring one — a near-flat line hugging $1.00, with the occasional fractional-cent ripple. There is no breakout to wait for, no support level to defend, no trend to ride. If the line is flat, the system is working.

Spikes or dips of a fraction of a cent — say a print at $0.9991 or $1.0007 — are entirely normal. They reflect short-term order-book imbalances on individual exchanges at a single moment, not a change in what stands behind each token. A large market sell into a thin book will momentarily push the last trade below par; a burst of buying will nudge it above. Neither is a depeg. The number that would actually matter is a sustained deviation that persists across multiple venues for hours, not seconds — and we’ll get to how to spot that below.

If you’re here to actually buy rather than watch, our where to buy USD1 page compares venues and our how to buy USD1 guide walks the steps. Buy USD1 on CEX.io →

Why the USD1 price should equal $1.00

USD1’s price stability is not magic and it is not a promise scribbled in a whitepaper. It is the product of a specific, mechanical mint-and-redeem arbitrage loop. Understand that loop and you understand everything about why USD1 trades where it does.

Start with the foundation: USD1 is fiat-collateralised, not algorithmic. World Liberty Financial states that every token is “100% backed by short-term US government treasuries, US dollar deposits and other cash equivalents,” with a meaningful share held in 1–3 month US Treasury bills managed through BlackRock’s institutional money-market products, and cash held at the custodian. That backing is what gives the redemption promise teeth. Without real dollars on the other side, the peg would be a hope rather than a constraint.

Market-cap figure per CoinDesk reporting, April 2026; reserve and backing claims per the official USD1 site. Verify current data on CoinGecko, CoinMarketCap, DeFiLlama or the latest attestation before relying on it.

The mechanism, step by step

Three operations govern the entire float — mint, circulate, redeem — and the first and third are where the peg is enforced.

1. Mint at par

   An approved client wires dollars to BitGo, the regulated custodian and issuer of record. BitGo verifies the deposit and mints an equal quantity of USD1 on-chain. Supply only grows when new dollars actually arrive — one token, one dollar, no IOUs.

2. Circulate on the secondary market

   Once issued, USD1 trades peer-to-peer, on exchanges and across DeFi. This is where ordinary users buy it; you almost never mint directly. The market price here is set by supply and demand, which is why it can drift a hair off $1.00.

3. Redeem 1:1

   An eligible BitGo customer returns USD1 and receives one dollar per token; the returned tokens are burned and the reserve shrinks in step. This 1:1 redemption is the anchor that the whole arbitrage hangs from.

How arbitrage closes the gap

Now the loop. Suppose USD1 dips to $0.995 on an exchange because someone dumped a large position into a thin book. An approved participant can buy those discounted tokens on the open market and redeem them with BitGo for a full dollar each — pocketing half a cent per token, risk-free, minus fees. That buying pressure lifts the market price back toward $1.00. Run the logic in reverse: if USD1 trades at $1.004, a participant can mint fresh tokens at par for a dollar and sell them above par, and that selling pressure pushes the price back down. The peg is held not by belief but by the simple fact that any meaningful deviation is a free profit waiting to be harvested.

The critical caveat — and it is the whole ballgame — is that this arbitrage only works while the redemption channel stays open, fast and honest. Because USD1 uses an authorised-participant model (only KYC’d, approved clients can mint and redeem; everyone else trades the existing float), the peg’s defence rests on a relatively small set of institutions being able and willing to act. If redemptions slow, freeze, or come into doubt, the arbitrage weakens and the price can drift. That dependency is the single most important thing to understand about every fiat stablecoin, USD1 included.

What makes a stablecoin price wobble

Even a fully-backed coin can deviate from a dollar, sometimes sharply. The mechanism above describes how the peg recovers; it doesn’t mean deviations never happen. Here are the forces that move a stablecoin price, roughly in order of how much they should worry you.

• Liquidity crunches. The most common and least alarming cause. Thin order books amplify the price impact of any large trade. A $5 million market sell into a venue with only $2 million of bids near par will print a visible dip — even though nothing about the backing changed. USD1, as a newer coin with thinner liquidity than USDT or USDC, is more exposed to this than the incumbents.
• Reserve scares. The dangerous kind. If holders doubt that the reserves exist, are liquid, or are held somewhere safe, they rush to sell or redeem, and the price can crater faster than arbitrage can respond. The textbook example: USDC briefly traded around $0.87 during the March 2023 collapse of Silicon Valley Bank, when roughly $3.3 billion of Circle’s reserves were stuck at the failed bank over a weekend. The dollars were ultimately fine and USDC repegged within days — but the episode is the canonical lesson that where reserves sit matters as much as whether they exist.
• Exchange-specific imbalances. One venue can trade meaningfully off-peg while every other venue sits at $1.00, simply because that exchange has a lopsided book or a withdrawal issue. This is why you should never judge a depeg from a single exchange’s last-trade price.
• Redemption friction. If the mint-redeem pipe slows — operational backlog, custodian issue, compliance hold — the arbitrage that restores the peg loses its force. A coin that can’t be redeemed at par quickly is a coin whose peg is only as good as market sentiment.

How USD1’s price stability compares to USDT and USDC

USD1 plays in a market dominated by two incumbents that together account for the overwhelming majority of stablecoin supply. Comparing the three on the dimensions that actually drive peg stability — track record, reserve transparency, and liquidity depth — is more useful than comparing their prices, which are all supposed to be a dollar anyway.

The honest read: USD1 sits on the same structural side as USDC and USDT — it’s a real-reserve coin, not an algorithmic experiment — which is the most important thing for peg safety. But it trades a long track record and deep liquidity for a one-year history and thinner books. The incumbents have been stress-tested by years of market chaos; USD1 has not yet faced its own SVB-style weekend. That isn’t a knock on its design so much as an acknowledgement that track record is itself a feature, and it’s the one feature no new entrant can buy. For a fuller breakdown of what stands behind the token, see what is USD1.

Market cap matters more than the USD1 price

Here is the mental flip that separates someone who understands stablecoins from someone watching the price chart waiting for green candles: for a stablecoin, the price is fixed by design, so it tells you almost nothing. The metric that actually moves is market capitalisation — the total dollar value of USD1 in circulation. Market cap is the real signal of adoption, because the supply only grows when someone deposits genuine dollars to mint new tokens, and only shrinks when someone redeems and burns them. Rising market cap means net new dollars are choosing to sit in USD1; falling market cap means net redemptions. That is the story worth following.

By that measure, USD1’s growth has been remarkable. It launched in March 2025 on Ethereum and BNB Chain, reached roughly $3 billion in circulating supply by December 2025, and stood at around $4.6 billion by April 2026 — placing it among the fastest-growing stablecoins ever launched. Few tokens have scaled to multiple billions this quickly.

Circulating-supply / market-cap trajectory (≈$3B Dec 2025, ≈$4.6B Apr 2026) per CoinDesk reporting; some sources cite figures in the $2–4B range at various points in 2025. Confirm the latest on CoinGecko, CoinMarketCap or DeFiLlama.

And to be unambiguous, because the framing of this entire page depends on it: a growing market cap does not mean your USD1 is worth more. Each token is still one dollar. Market-cap growth is a measure of the network’s adoption, not your return. USD1 is not a growth asset, and it pays no yield. We keep our USD1 price prediction page deliberately boring for exactly this reason.

On-chain and market metrics to watch

If you want to monitor USD1’s health rather than just glance at the price, these are the dials that matter. None of them is the price chart — they’re the inputs that determine whether that chart stays flat.

Read together, these metrics let you do something the price line alone can’t: distinguish a momentary order-book blip from the early stages of a genuine stress event. A one-cent dip with stable supply, normal redemption flow and healthy liquidity is a non-event. The same dip alongside falling supply, a spike in burns and thinning exchange books is a story.

Historical peg performance and stress-testing USD1

USD1 is young enough that its “historical peg performance” is a short chapter — and that brevity is itself the most honest thing one can say about it. Since its March 2025 launch it has, by available data, tracked close to $1.00 through normal conditions, with the usual fractional-cent ripples that every fiat stablecoin shows. What it has not yet had is a true stress test: it has not lived through its own equivalent of a banking-partner failure, a coordinated bank-run dynamic, or a sudden mass redemption from one of its large early holders.

This is where an analyst should be candid rather than reassuring. The right way to think about a new stablecoin’s peg is not “has it held so far?” (most do, in calm markets) but “what happens when it’s tested?” The framework is to interrogate each pressure point against USD1’s known structure:

None of these are predictions that USD1 will break — they are the questions a careful holder keeps in view. The reassuring half of the picture is that USD1’s design (real reserves, short-dated Treasuries, a regulated custodian, GENIUS Act alignment, monthly attestations) is genuinely conservative and puts it in the same category as the coins that have survived stress. The sober half is that conservative design and a survived crisis are not the same thing, and only time supplies the second. Treat the flat chart as encouraging, not as proof.

Stress framing is analytical, drawing on USD1’s disclosed structure and on the well-documented USDC/SVB (2023) and TerraUSD (2022) episodes; it is not a forecast.

Tools and dashboards to track the USD1 price

No single source deserves your full trust. Triangulating a few — each good at a different thing — is how you get an accurate read and how you’d catch trouble before a headline does.

• CoinGecko & CoinMarketCap — cross-exchange average price, market cap, volume, and a list of where USD1 actually trades. Best for a quick, venue-agnostic snapshot of the price and cap.
• DeFiLlama — the standout for stablecoin health specifically: circulating supply over time, chain-by-chain breakdown, and peg-deviation views. This is the dashboard to watch supply trends on.
• Block explorers — Etherscan for the Ethereum (ERC-20) contract, BscScan for BNB Chain (BEP-20), Tronscan for Tron, and so on. Use them to inspect top-holder concentration, total supply, and mint/burn activity directly on-chain. Always verify you’re looking at the official contract — confirm the address against the WLFI docs before trusting any explorer page.
• Official attestation reports — published via the official USD1 site, these are the point-in-time third-party checks on reserves (prepared to AICPA criteria). Remember an attestation is a snapshot, not a continuous audit; the trend across many reports is more telling than any single one.
• The chart above — for the live, second-by-second market price, the embedded chart on this page is your fastest read. Pair it with one of the aggregators to confirm a move isn’t just one exchange.

Frequently asked questions