Recent price surge of Bitcoin and the activity in the stablecoin market have captured the attention of investors and traders.
Record High for Bitcoin
Bitcoin reached a new record price of $111,880, which has drawn notable interest in cryptocurrency markets.
Ripple USD Trading Activity
The stablecoin Ripple USD (RLUSD) has shown remarkable increases in activity, doubling its trading volume over the last 24 hours to $150.49 million, representing a 103.47% increase. The market cap of RLUSD sits at $310.45 million.
Comparison with Other Stablecoins
Despite being ranked 15th among USD-pegged stablecoins by market cap, RLUSD's trading volume significantly surpasses that of many more established stablecoins. Only USDT and USDC have higher trading volumes during this period.
The surge in stablecoin activity amid Bitcoin's record may indicate the start of a new phase of interest in cryptocurrencies. The future of such activity will depend on the overall market conditions.
