Ripple's RLUSD stablecoin has shown impressive performance in the cryptocurrency market, standing out with high capital efficiency.
RLUSD Achievements
XRPL dUNL validator Vet noted that RLUSD enjoys a 37% volume-to-total value locked (TVL) ratio compared to other top stablecoins.
Financial Indicators
CoinMarketCap data shows RLUSD with a 24-hour volume-to-market capitalization ratio of 39.49%, while Tether (USDT) is at 36.45%, USD Coin (USDC) at 15.02%, and PayPalUSD at 6.76%.
Current State of the Crypto Market
Amidst market instability, RLUSD has seen its trading volume increase by 220% in the last 24 hours to $81.2 million, contrasting with Bitcoin's 1.81% drop and significant losses in XRP and ADA.
RLUSD's high efficiency allows Ripple to strengthen its position in the stablecoin market despite general price fluctuations in other cryptocurrencies.
