As I watch the WLFI market cap increase almost daily, I want to be sure I understand what I’m seeing. Market cap should be the total number of USD1 stablecoins x its value ($1). So, a 5 Billion market cap means there are 5 Billion USD1 stablecoins. That also means there are $5 Billion in assets backing them. If this is correct, then at the rate the market cap has been increasing over the last 2 weeks ($4 Billion to $5 Billion), WLFI will generate $24 Billion by the end of this year. Is this correct? Would love to hear everyones perspective on this.
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