RLUSD Total Supply Reaches $120 Million Amid Growing XRP Adoption and XRPL Market Interest
The post RLUSD Total Supply Reaches $120 Million Amid Growing XRP Adoption and XRPL Market Interest appeared on BitcoinEthereumNews.com.
Ripple’s new stablecoin RLUSD has gained remarkable traction in the crypto market, with a total supply now reaching $120 million. The growth trend of RLUSD underscores the increasing popularity of regulated stablecoins, especially within the XRPL ecosystem. As reported by CryptoQuant, XRP’s value surged 12.8% over the past week, illustrating a direct correlation between RLUSD’s performance and XRP’s market movement. Discover how RLUSD’s $120 million supply milestone impacts XRP and the XRPL ecosystem in our in-depth analysis. RLUSD supply hits $120 million According to a report from CryptoQuant, RLUSD has achieved a significant milestone, experiencing exponential growth, with its total supply hitting $120 million. This surge highlights the increasing interest in and adoption of regulated stablecoins within the cryptocurrency market. Source: CryptoQuant As of the latest data, XRPL holds approximately 37.4 million RLUSD, which currently surpasses the holdings of Ethereum (ETH), while the total supply maintains under $83.3 million USD. This trend represents a shift, showing RLUSD’s growth accelerating on the XRP Ledger compared to its earlier days on Ethereum, attributed mainly to lower transaction fees on XRPL. This significant milestone signals a broader acceptance of regulated stablecoins in the crypto marketplace and highlights the XRP community’s ongoing adoption and engagement with Ripple’s native token. What it means for XRPL The rising supply of RLUSD carries important implications for Ripple’s native token, XRP. As the holdings of RLUSD on XRPL continue their upward trajectory, the interconnectedness between RLUSD and XRP becomes increasingly evident. Source: CryptoQuant Recent statistics indicate a substantial rise in XRP adoption, evidenced by an increase of over 300,000 addresses in the past month, bringing the total to 6.6 million. This surge in users signifies heightened interest in the XRPL ecosystem, a crucial factor that could positively influence XRP’s market price. Source: CryptoQuant Moreover, liquidity within XRPL’s decentralized…
Filed under: News - @ February 16, 2025 9:20 am