Recent months' growth across the crypto market has touched Ripple's ecosystem, where the RLUSD stablecoin continues to gain traction.
Growth of RLUSD Capitalization
According to Ripple Stablecoin Tracker, on July 2, Ripple minted 14 million RLUSD tokens, boosting its market capitalization to $469.22 million. RLUSD is approaching the half a billion dollar mark.
Minting and Trading Activity
Since its inception in late 2024, RLUSD has amassed a significant total supply of $469.24 million. Recently, RLUSD saw a considerable trading volume surge of 260%, but high volatility led to a 59% drop in volume over the following day.
Ripple's Development and Demand for RLUSD
Ripple's ecosystem continues to evolve, especially following its legal settlement with the SEC. Recently, RLUSD secured key regulatory approval in Dubai, facilitating its legal adoption within the Dubai International Financial Centre.
Ripple's minting of RLUSD and its growth in the stablecoin market highlight the importance of this token among organizations. The Ripple ecosystem is on course for global recognition.
