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The market performance of stablecoin U has attracted attention. According to data, the market capitalization of this stablecoin has exceeded $400 million. Notably, on January 4th, the coin experienced a large-scale minting of hundreds of millions of dollars in a single day, indicating that market demand remains strong.
More in-depth data comes from the distribution of holdings. Currently, the Top 10 holders of U account for 97.93% of the total circulating supply, a very high concentration. The largest holder, Huobi: Recovery, holds 30.6% of the total, indicating a significantly high concentration of holdings.
This highly concentrated holding structure reflects institutional confidence in the stablecoin, but it also means there is some market risk exposure. The future trend will depend on the ongoing development of this stablecoin ecosystem.