USDC's days are getting tougher and tougher. First, there's the OG stablecoin in the crypto world, USDT. Then, there's OUSD, backed by over 140 giant companies. And now, the Trump family's USD1. Lately, I've noticed something interesting— On Binance's BTCUSD1 contract trading pair, sometimes the liquidity depth is even better than USDC's. There are two possible reasons: 1. USD1 and Binance are jointly boosting liquidity. 2. More users and institutions are trading on USD1 due to lower fees. The second scenario seems more likely, because recently, there have been a lot of large trades. With the fee advantage, it's highly likely that big players and institutions are getting involved. USD1 has really stood out during this bear market. A lot of people have made money and are now used to using USD1. USDC's edge is gradually fading away.