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RLUSD Stablecoin Surpasses Rivals in 24-Hour Trading Volume
RLUSD, the stablecoin floated by American blockchain payments firm Ripple Labs, is growing at a fast pace, currently flipping its core rivals in 24-hour trading volume. Despite the stablecoin’s young age, it has printed a sustained growth track to beat PayPal’s PYUSD and Circle’s EURC tokens. This milestone comes despite Ripple USD showcasing a much smaller market capitalization than the duo.
RLUSD Stablecoin and the Performance Metrics
According to data from CoinMarketCap, the Ripple stablecoin boasts a self-reported market cap of $53.1 million. Atop this, the stablecoin saw its trading volume jump by 1,566% in 24 hours to $607.58 million. This unexpected boost contrasts sharply with PayPal’s PYUSD, which has a $491.72 million capitalization and a 24-hour volume of $19.74 million. Circle’s EURC, a MiCA-compliant token, has a market cap of $82.38 million and a 24-hour volume of $10.55 million.
Reasons behind the Growth
While it remains unclear the reasons for the RLUSD stablecoin’s growth, the current outlook positions it as the 3rd most traded token after Tether (USDT) and Circle’s USDC. A related growth is seen across the board for Ripple coin, with data insights from XPMarkets indicating a total user base of 7,600, up from 1,000 recorded 24 hours after Ripple launched the stablecoin in December 2024.
Ripple, XRP Ledger, and RWA Agenda
Beyond its direct role in facilitating payments, Ripple Labs has a bigger plan for the RLUSD stablecoin. The firm is making ambitious moves in the Real World Tokenization (RWA) world through its partnership with Archax. Ultimately, the firm hopes to integrate the stablecoin as a primary liquidity layer in driving this use case. The firm recently launched its first tokenized money market fund on XRP Ledger, establishing its foothold in this industry.
Ripple Executives’ Outlook
Ripple executives have reiterated how the stablecoin, XRP Ledger, and XRP will form a complementary bond across its product suite. The liquidity boost of the stablecoin might account for the latest rally in the price of XRP, as reported earlier by Coingape. As of writing, the coin was changing hands for $2.432, up by 2.6% in the past 24 hours. In an earlier XRP price analysis, the coin is projected to hit $3.5.
Conclusion
In conclusion, the RLUSD stablecoin’s rapid growth is a significant development in the cryptocurrency market. With its market capitalization and trading volume surpassing those of its rivals, the stablecoin is poised to play a major role in the future of digital payments. As Ripple Labs continues to expand its product suite and partnerships, the stablecoin’s growth is likely to be sustained.
FAQs
Q: What is the RLUSD stablecoin?
A: The RLUSD stablecoin is a digital currency floated by American blockchain payments firm Ripple Labs.
Q: What is the current market capitalization of the RLUSD stablecoin?
A: The current market capitalization of the RLUSD stablecoin is $53.1 million.
Q: What is the current trading volume of the RLUSD stablecoin?
A: The current trading volume of the RLUSD stablecoin is $607.58 million.
Q: How does the RLUSD stablecoin compare to its rivals?
A: The RLUSD stablecoin has surpassed its rivals in 24-hour trading volume, despite having a smaller market capitalization.
Q: What is the future outlook for the RLUSD stablecoin?
A: The future outlook for the RLUSD stablecoin is promising, with Ripple Labs planning to integrate it as a primary liquidity layer in driving its Real World Tokenization (RWA) agenda.
