Ripple USD (RLUSD) Volume Explodes 33%, Here’s Possible Impact
The post Ripple USD (RLUSD) Volume Explodes 33%, Here’s Possible Impact appeared on BitcoinEthereumNews.com.
Earlier, the Ripple USD stablecoin (RLUSD) recorded a surge of up to 33% in trading volume. This suggests that investors and traders are significantly engaging with the two-month-old stablecoin. Ripple Stablecoin RLUSD Statistics Amid the broad fluctuations in the crypto market, at the time of this writing, the trading volume of RLUSD recorded a 33.24% increase. According to CoinMarketCap data, the Ripple stablecoin now has a 24-hour trading volume of $266.57 million. Per the growth rate, the crypto sector is seeing growing interest in and adopting RLUSD. This also proves the stability and growing utility of the stablecoin, among other factors. In January, the New York Department of Financial Services (NYDFS)-regulated stablecoin saw several capital inflows from whales into RLUSD. Data from the Ethereum network confirmed that tiny transactions are less common, while transfers worth over $100,000 keep getting more frequent. On January 7 and January 15, RLUSD moves of over $100,000 were observed. – Advertisement – This is a show of increasing whale activity. The increasing use of RLUSD in diverse financial activities reflects its role in more extensive OTC trading, liquidity boost, or role payment processing. RLUSD Fuels Liquidity Boost for XRP The increasing adoption and growth of RLUSD could be good for XRP. However, some in the community believe the Ripple stablecoin could outcompete XRP as a payment asset. By leveraging the XRP Ledger, RLUSD holders are promised reduced volatility, which is usually associated with interacting with digital assets. With such features, these users, including institutional investors, would be more inclined to perform a large percentage of their transactions with RLUSD. This use case may lead to more cases of XRP being shoved to the side. However, adopting RLUSD might imply more investors in the community can participate in XRP-based DeFi transactions. This is a positive boost for…
Filed under: News - @ February 19, 2025 5:25 pm