Open USD supply reaches 666 million, 10 wallets hold 74%

Open USD had 666.3 million outstanding on October 5, with most of the supply in launch and custody wallets, according to a wallet study by Crystal Intelligence published on October 6. The study indicates significant launch inventory but limited circulation. Open Standard launched the OUSD token on September 30 across Base, Ethereum, Solana, and Tempo, backed by companies including Coinbase and Mastercard. Crystal identified 396 million in eight Tempo wallets that had not moved funds by the snapshot, and traced 200 million sent to Coinbase on October 1, which remained in custody. Ten wallets held 74% of OUSD supply, with Tempo accounting for 71%. During the first week, decentralized exchange trading volume was about 4.1 million, with Solana contributing 3.4 million. Crystal noted that 73% of OUSD transfers were network-fee payments, totaling 3.33. The study highlights that high transaction counts do not necessarily indicate active trading. Future indicators to monitor include mints beyond initial allocations, transfers from staged wallets, and Tempo exchange activity.

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