- The circumferential amount of RLUSD has reached $ 160 million, which shows quick acceptance in the Ethereum and XRPL networks.
- Thousands of wallets now keep Rlusd, a sign of increasing trust in the growing ripple stable system.
Who would have thought that the StableCoin von Ripple, Rlusd, who was initially only part of a limited test, now begins to roll up the market. What initially looked like an ordinary experiment has loudly IntoTheBlock In the meantime, a circulation of $ 160 million.
At the beginning of March, CNF reported that RLUSD exceeded the trading volume of several competing stable coins and entered a wider ecosystem through integration with Revolut and Zero Hash.
Even at this point, the circulating tokens had only reached 120 million. In a short time, several ten million RLUSD tokens have distributed themselves in the network. This is not growth that can be seen as child’s play.
RLUSD wins dynamics over Ethereum and XRPL
Interestingly, the RLUSD is not only concentrated in a network. It moves quickly between Ethereum and the XRP Ledger (XRPL). In January, the sales of the stable coin reached $ 7.35 billion.
This means converted that billions of dollars changed the owner within a few weeks, an activity that shows how great the demand for this stable coin is. In addition, the latest data show an increase in the number of Ethereum addresses that hold RLUSD. Last month there was an increase of around 15 % to 2,345 addresses.
CEO Garlinghouse and RA Deaton support the big vision of Rlusd
Behind Rlusd’s growth is a strong impulse from Ripple CEO Brad Garlinghouse. He predicts that RLUSD has the opportunity to get under the five largest stable coins in the world. This prediction came after the SEC had withdrawn in the Ripple case, which brought a breath of fresh air to further expansion.
On the other hand, John Deaton, a lawyer close to the XRP community, sees the introduction of Rlusd not only as an attempt to make money. He considers this step to be a clever strategy from Ripple to create regulatory clarity.
Since stable coins are increasingly accepted from the market, RLUSD has the potential to strengthen the benefits of the XRP Ledger as a whole. It is like beating a bridge between the old financial world and the growing crypto infrastructure.
Win quick trust in a crowded stablecoin market
If you look at the latest data, RLUSD has a daily trading volume of $ 23 million. Around $ 12.5 million of them came from Uniswap alone. Interestingly, the price of RLUSD was $ 1.004 compared to ETH and thus slightly above its equivalent, while the price compared to USDT was stable at $ 0.9995.
This price stability shows that, despite the high trade activity, RLUSD is able to maintain its value – which is certainly the most important sales argument for a stable coin.
However, it is even more interesting how this project has managed to build trust in a short time, and that in the middle of the hard competition of great players such as Tether and USDC. Rlusd quickly found its place in the cryptosystem.
No Comments