The post Ripple’s RLUSD hits $170M market cap, eyes top 5 spot appeared on BitcoinEthereumNews.com.

Ripple’s USD-pegged stablecoin, RLUSD, has hit a market cap of $170 million, eyeing the top five spot among stablecoins in the crypto industry. According to the company’s latest report, the stablecoin outpaced the company’s internal projections when it hit the new market cap record. The token has enjoyed increased institutional interest in the market, providing it with the ingredients it needs for growth. RLUSD witnesses massive growth in February The positive news was shared in a post on X by the Senior Vice President at Ripple, Jack McDonald. He highlighted several aspects of the February attestation, noting that the stablecoin has continued to show strong movements. In the post, he mentioned that RLUSD is now being used in DeFi liquidity pools amid other use cases. McDonald also mentioned that NGOs have now started adopting the token as a means of donation. The Feb monthly independent attestation for $RLUSD is live 👇— Market cap (~$170M) is outpacing our internal projections – we expect to be a top 5 stablecoin by EOY 🔥— RLUSD is available on new exchanges including @LMAX with more to come…— New use cases are continuing to… — Jack McDonald (@_JackMcDonald_) March 28, 2025 The token’s increase in market cap has shown that its demand and utility have grown steadily. Launched in December 2024, the stablecoin made its debut on several exchanges, including Uphold, CoinMENA, Archax, and MoonPay. Since then, it has secured listings on exchanges like Bitso, Bullish, Mercado Bitcoin, Independent Reserve, Zero Hash, and Bitstamp. The token was also recently listed on LMAX. The token has recorded relatively solid numbers since its launch, with RLUSD reaching $120 million in just two months. There have also been talks about moving the stablecoin to different blockchains, with Cardano founder Charles Hoskinson mentioning plans to add RLUSD into the…

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Filed under: News - @ March 30, 2025 3:22 pm