First Digital USD PriceFDUSD

As of June 10, 2025, the cryptocurrency market is experiencing significant developments, with notable price movements and strategic initiatives by major financial institutions. This report provides an in-depth analysis of the current market trends and key events shaping the crypto landscape.

Market Overview

The cryptocurrency market is witnessing substantial activity, with leading digital assets showing notable price movements.

• Bitcoin (BTC): Currently trading at $109,471, Bitcoin has seen an increase of $2,754 (2.58%) from the previous close. The intraday high reached $110,290, while the low was $106,639.

• Ethereum (ETH): Ethereum is priced at $2,690.48, marking a rise of $178.74 (7.12%). The day's high and low are $2,720.30 and $2,511.07, respectively.

• BNB (BNB): Trading at $661.29, BNB has increased by $9.17 (1.41%), with an intraday high of $668.51 and a low of $652.12.

• XRP (XRP): XRP stands at $2.29, up by $0.03 (1.33%). The highest and lowest prices today are $2.33 and $2.24, respectively.

• Cardano (ADA): ADA is valued at $0.69458, reflecting a gain of $0.02551 (3.81%). The intraday high is $0.714501, with a low of $0.666908.

• Dogecoin (DOGE): DOGE is trading at $0.192008, up by $0.00722 (3.91%). The day's high and low are $0.196017 and $0.183082, respectively.

• Polkadot (DOT): DOT is priced at $4.14, marking an increase of $0.09 (2.22%). The intraday high reached $4.21, with a low of $3.99.

• Litecoin (LTC): LTC stands at $90.07, up by $2.02 (2.29%). The highest and lowest prices today are $91.39 and $87.80, respectively.

• Bitcoin Cash (BCH): BCH is trading at $422.72, reflecting a gain of $3.91 (0.93%). The intraday high is $429.36, with a low of $417.45.

• Chainlink (LINK): LINK is valued at $14.57, up by $0.80 (5.81%). The day's high and low are $14.61 and $13.76, respectively.

Societe Generale's Entry into Stablecoins

In a significant development, French banking giant Societe Generale has announced the launch of a dollar-backed stablecoin named "USD CoinVertible" through its crypto subsidiary, SG-FORGE. This initiative positions Societe Generale as the first major European lender to introduce a dollar-pegged cryptocurrency.

The USD CoinVertible will operate on the Ethereum and Solana blockchains and is slated for public trading starting in July. BNY Mellon will serve as the custodian for its reserves, ensuring robust backing for the stablecoin.

This move follows SG-FORGE's earlier launch of a euro-denominated stablecoin in 2023, which has seen limited adoption with €41.8 million in circulation. Stablecoins, cryptocurrencies pegged to traditional currencies like the dollar, facilitate seamless large-scale money transfers without relying on traditional banking systems.

SG-FORGE aims to utilize USD CoinVertible for various applications, including crypto trading, cross-border payments, foreign exchange transactions, and collateral management. The token is also expected to be listed on multiple crypto exchanges, enhancing its accessibility and liquidity.

Implications for the Crypto Market

Societe Generale's foray into the stablecoin market signifies a growing acceptance and integration of cryptocurrencies within traditional financial institutions. By launching a dollar-pegged stablecoin, the bank aims to provide a secure and regulated digital asset that can be used for a variety of financial operations.

This development could potentially influence other major banks to explore similar ventures, further bridging the gap between conventional banking and the crypto ecosystem. Moreover, the introduction of USD CoinVertible may contribute to increased stability and trust in the cryptocurrency market, attracting more institutional investors.

Conclusion

The cryptocurrency market on June 10, 2025, is marked by notable price movements among leading digital assets and strategic initiatives by established financial institutions. Societe Generale's launch of the USD CoinVertible stablecoin underscores the evolving landscape of digital finance, where traditional banks are increasingly embracing blockchain technology and cryptocurrencies.

As the market continues to mature, such developments are likely to play a pivotal role in shaping the future of global finance, offering new opportunities and challenges for investors and institutions alike.

First Digital USD (FDUSD) is a stablecoin introduced in June 2023 by FD121 Limited, a subsidiary of First Digital Limited, a Hong Kong-based financial firm. Designed to maintain a 1:1 peg with the US dollar, FDUSD aims to provide stability and reliability within the volatile cryptocurrency market. Each FDUSD token is backed by one US dollar or an equivalent asset held in reserve, ensuring its value remains steady and minimizing the risks associated with price fluctuations common in other cryptocurrencies.

Technical Overview

FDUSD operates on both the Ethereum and BNB Chain networks, adhering to the ERC-20 and BEP-20 token standards. This dual-network functionality enhances its compatibility with a wide range of decentralized applications and cryptocurrency exchanges. The reserves backing FDUSD are held in segregated accounts by First Digital Trust Limited in Hong Kong, ensuring the integrity and security of the 1:1 backing. Transparency is a cornerstone of FDUSD's operations, with independent auditors regularly publishing attestation reports to confirm that the circulating supply is fully supported by reserves. The programmability of FDUSD allows for seamless integration with smart contracts, facilitating various decentralized finance (DeFi) activities. Additionally, its fast transaction speeds and low fees make it suitable for cross-border payments and everyday transactions.

Market Performance

As of June 11, 2025, FDUSD is trading at approximately $0.998656, with a slight decrease of 0.00031% from the previous close. The intraday high reached $1.011, while the low was $0.988791. The 24-hour trading volume stands at $8.47 billion, indicating robust market activity. The total supply and circulating supply of FDUSD are both 2,934,157,267 tokens, reflecting a substantial presence in the stablecoin market.

Listing on Bitget Exchange

FDUSD was listed on the Bitget Exchange on May 24, 2024. The listing schedule was as follows:

• Deposit Available: Opened
• Trading Available: May 24, 2024, 11:00 (UTC)
• Withdrawal Available: May 25, 2024, 12:00 (UTC)

Bitget offers a secure and efficient platform for trading FDUSD, providing users with high liquidity and low trading fees. The exchange supports various trading pairs for FDUSD, enabling seamless transactions for traders.

Use Cases and Applications

FDUSD serves multiple purposes within the cryptocurrency ecosystem:

• Trading: Traders can use FDUSD as a stable medium of exchange to hedge against market volatility.
• Payments: Businesses and individuals can utilize FDUSD for transactions, benefiting from its stability and fast processing times.
• DeFi Integration: FDUSD's compatibility with smart contracts allows it to be used in various DeFi applications, such as lending, borrowing, and yield farming.
• Cross-Border Transactions: The low fees and quick transaction times make FDUSD an attractive option for international remittances.

Security and Compliance

First Digital Trust Limited, the custodian of FDUSD's reserves, ensures that the assets backing the stablecoin are held in segregated accounts, providing an additional layer of security. Regular audits by independent firms offer transparency and build trust among users. By adhering to regulatory standards and maintaining transparent operations, FDUSD positions itself as a reliable and compliant stablecoin in the market.

Conclusion

First Digital USD (FDUSD) has established itself as a significant player in the stablecoin market since its launch in 2023. Its dual-network functionality, transparent reserve management, and integration with major exchanges like Bitget contribute to its growing adoption. As the cryptocurrency landscape continues to evolve, FDUSD's commitment to stability, security, and compliance positions it as a valuable asset for traders, businesses, and individuals seeking a dependable digital currency.