RLUSD, Ripple’s recently launched stablecoin, has achieved a significant milestone just weeks after its launch in mid-December 2024. Staticcoin has surpassed PayPal USD (PYUSD) and EURC in 24-hour trading volume, marking a notable achievement in the stablecoin market.
According to data shared on X by the Paul Barron Network (@paulbarrontv), RLUSD recorded a daily trading volume of $34.7 million, eclipsing PYUSD’s $19.7 million and EURC’s $12.4 million. This surge in volume reflects the strong reception of RLUSD in the decentralized finance (DeFi) and banking sectors.
Ripple launched RLUSD as part of its broader strategy to expand into the DeFi space and strengthen its position in the banking ecosystem. According to Adam Cochran, Managing Partner at Cinneamhain Ventures, RLUSD acts as a Trojan Horse for Ripple, enabling it to bridge traditional finance with decentralized solutions.
The stablecoin is fully backed and designed to operate seamlessly on the XRP Ledger, offering users fast and low-cost transactions. It is also available on the Ethereum network, allowing a broad range of users to enjoy its benefits, and introducing them to the XRP ecosystem.
This achievement comes as Ripple continues to solidify its presence in the financial industry. RLUSD represents a critical component of Ripple’s expansion, serving as a gateway for financial institutions and retail users seeking efficient cross-border payment solutions.
The rapid adoption of RLUSD has drawn attention from the crypto community and industry experts alike. Popular crypto influencer Ben “BitBoy” Armstrong recently emphasized the importance of RLUSD in Ripple’s ecosystem, describing stablecoins as the backbone of the crypto industry.
The stablecoin market has become increasingly competitive. RLUSD’s ability to outperform established players like PYUSD in daily volume shows the strength of Ripple’s stablecoin. While PYUSD benefits from PayPal’s extensive user base, RLUSD’s integration with the XRP Ledger and its focus on cross-border payments provide unique value propositions.
At press time, RLUSD had far surpassed PYUSD and EURC. It is now ranked 4th by trading volume with a 24-hour volume of $417.8 million. It sits behind FDUSD, USDC, and USDT.
With RLUSD growing rapidly, many new investors are entering the XRP ecosystem, creating a big opportunity for XRP as both assets are complementary. Many in the community believe RLUSD is coming for USDT’s top position, and if it keeps showing at this rate, it might dominate the stablecoin market sooner than many expect.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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