- Usual’s deposits fell 57% in 2025, with stablecoin supply dropping 42% and $USUAL plunging 86%, signaling market challenges.
- Despite setbacks, Usual raised $10M from Binance Labs and Kraken Ventures to expand its DeFi and stablecoin ecosystem.
- Usual aims to boost usability via Base and Solana, while its community-driven model fosters innovation in decentralized finance.
Net deposits into Usual surged to $1.7 billion in early 2025 but have since plunged by 57% year-to-date. At the same time, the circulating supply of its stablecoin, USD0, declined by 42%. Meanwhile, its native token, $USUAL, suffered an 86% drop. The growing competition in the stablecoin market underscores the importance of integrations and usability. Moreover, deploying on Base and shipping on Solana could offer strategic advantages.
Rapid Growth Followed by Market Correction
From June 2024 to November 2024, net deposits into Usual steadily increased, with minimal redemptions. However, Midway through November, deposit growth picked up speed, reaching its zenith in early January 2025. Stablecoin redemptions exceeded $400 million at this time, while net deposits exceeded $1.5 billion.
In January, redemptions spiked. The highest single-day redemption occurred during this phase, signaling a shift in market dynamics. Consequently, net deposits began declining as users converted holdings into stablecoins. By February and March 2025, deposits continued to drop, while stablecoin redemptions remained high but lower than January levels.
Funding Round and Market Strategy
Despite the recent downturn, Usual secured a $10 million Series A funding round. Binance Labs and Kraken Ventures co-led the investment, with participation from key crypto investors. This funding aims to drive Usual’s vision of reshaping the stablecoin market and expanding decentralized finance (DeFi) solutions.
Alex Odagiu, Investment Director at Binance Labs, emphasized stablecoins’ role in onboarding new crypto users. He noted that Usual’s community-driven model sets a new benchmark for inclusivity. Furthermore, Pierre Person, CEO of Usual Labs, stressed ongoing collaboration between Binance Labs and Usual to foster innovation and community-centric stablecoin solutions.
Usual’s Role in the DeFi Ecosystem
Launched in mid-November 2024, Usual was the 61st project featured on Binance Launchpool. Users could stake BNB or FDUSD to earn USUAL tokens. Three hundred million USUAL tokens, or 7.5% of the total supply, were part of the initiative’s overall reward pool.
The main goal of Usual is to develop a decentralized stablecoin supported by tangible assets. Using the USUAL token also encourages openness and community governance. Holders can influence protocol operations and revenue distribution. Moreover, the USUAL token enhances USD0 adoption, serving as a stable, secure asset for transactions, trading, and collateral use.
