Ripple Stablecoin RLUSD Reaches Stunning $120 Million Milestone as Adoption Grows

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Ripple Stablecoin RLUSD Reaches Huge $120 Million Milestone Amid Growing Adoption
Ripple Stablecoin RLUSD Reaches Huge $120 Million Milestone Amid Growing Adoption
February 18, 2025


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Ripple’s dollar-pegged stablecoin RLUSD has reached “a huge milestone,” according to a recent report. This is according to a new report from leading crypto analytics platform CryptoQuant. Written by lead analyst JA Maartunn, the report highlights that RLUSD reached a total supply of $1.2 billion within the first two months of its launch, citing its growing adoption. Specifically, the total supply of the stablecoin currently stands at approximately $120.8 million.

As the analyst highlights, the majority of the supply, or about 83.3 million RLUSD, is located on Ethereum, while only about 37.4 million RLUSD is located on the XRPL Ledger. However, he noted that XRPL has dominated supply growth in recent weeks. On the other hand, the supply of stablecoins on Ethereum has remained largely stable after accelerating in the initial weeks, highlighting the change in demand dynamics.

RLUSD supply by network Source: CryptoQuant
Maartunn attributed the change in demand to lower fees on XRPL compared to Ethereum. Another possible contributing factor is the asset’s rapid integration within the XRPL’s DeFi ecosystem. At the time of writing, xpmarketdata shows that there are 80 liquidity pools denominated in the stablecoin.

The supply achievement comes after the stablecoin hit a milestone of 100,000 transactions earlier this month. Based on the growth in demand on XRPL, 95% of RLUSD transactions were recorded on the network at that time.

Despite these achievements, RLUSD is still a long way from offering any real competition to established players like Tether and Circle, whose flagship products USDT and USDC have market caps of $142 billion and $56 billion, respectively. However, many expect that this may change after major exchanges like Binance and Coinbase increase support for RLUSD. Meanwhile, Ripple has yet to integrate the asset into its leading payments business.

RLUSD is predicted to boost XRP liquidity and DeFi activity by providing market participants with easy on-ramp and a stable unit of value, which is critical for products such as lending.

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