A wallet study released on Oct. 6 found that $666.3 million of Open USD (OUSD) was outstanding as of Oct. 5, but most of that amount stayed within launch and custody wallets. Crystal Intelligence’s analysis showed that eight Tempo wallets funded directly by Bridge held $396 million that had not moved by the snapshot, while $200 million sent to Coinbase on Oct. 1 across four chains remained in Coinbase custody. Ten wallets controlled 74% of the total supply, with Tempo alone accounting for 71% of balances. The study recorded about $4.1 million in decentralized exchange trading during the first week, though Solana drove $3.4 million of that volume and Tempo contributed only $17,000 despite hosting the majority of tokens. Transaction counts included 8,377 network-fee transfers worth $3.33 in total, which Crystal noted could inflate activity metrics without reflecting real economic use. Bridge has said it will not charge minting or redemption fees and will allow qualifying businesses to earn rewards on OUSD balances held through its platform. The study did not identify all beneficial owners behind custody accounts, nor did it assess off-chain spending or redemption patterns. Crystal said future signals to watch include mints beyond founder or partner wallets, transfers out of staged wallets, redemptions and Tempo exchange activity. It emphasized that concentrated holdings do not yet indicate failure, but wider circulation would provide clearer evidence of adoption.