The post Ripple’s RLUSD Stablecoin Explodes With 106% Growth in Volumes: Details appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a noteworthy development, the RLUSD stablecoin has seen an increase in trading volumes, rising by 106% in the past 24 hours. According to data from CoinMarketCap, RLUSD’s trading volume has reached $39 million in the previous 24 hours, highlighting the growing traction of this stablecoin in the market. The bulk of the trading volume comes from the RLUSD/USDC pair on the Bullish exchange, which is about 55.02%, reflecting strong demand for RLUSD among users transacting between these two stablecoins. The BTC/RLUSD pair on Bullish contributed 23.15%, while the XRP/RLUSD pair contributed 12% to the overall trading volume. Related RLUSD, a stablecoin pegged one-to-one with the U.S. dollar, is issued natively on both XRP Ledger and Ethereum networks and may be utilized for a variety of applications and use cases, including cross-border payments and decentralized banking. Ripple stablecoin debuts on crypto exchanges Ripple USD (RLUSD) went live globally Dec. 17, initially on platforms such as Uphold, MoonPay, CoinMENA, Archax and Bitso, with further listings likely in the following weeks. On Dec. 24, RLUSD went live on Bullish, allowing eligible regions to be able to trade the following markets: RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD and SOL/RLUSD. Related On the same day, RLUSD made its debut on Independent Reserve, Singapore’s first cryptocurrency exchange to list the stablecoin. The…

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Filed under: News - @ December 28, 2024 5:27 pm