Ripple's RLUSD Rise and Its Impact on the Crypto Market

user avatar

by Giorgi Kostiuk

2 years ago

Ripple continues to impress the crypto market with its innovations. With the release of the RLUSD stablecoin on the Ethereum platform and active market initiatives, the company has achieved significant success. This article explores Ripple's recent achievements and its market impact.

The Rise of Ripple's RLUSD

Ripple recently announced the issuance of 1.79 million RLUSD on the Ethereum blockchain. This move, along with the active transfer of 6.7 million RLUSD between anonymous wallets and key players like Bitstamp, demonstrates the project's steady growth.

Key Figures and Achievements

In the last 24 hours, the trading volume reached 607.9 million dollars. RLUSD secured a position in the top four most traded stablecoins. More than 1.5 million RLUSD were transferred by Bitstamp. Paul Barron tweeted: «Ripple Stablecoin $RLUSD has surpassed 600 million to become the 4th stablecoin in volume over 24 hours!».

RLUSD's Impact on the Crypto Market

Holding over 100 billion dollars in XRP, Ripple has a clear strategy. CEO Brad Garlinghouse emphasized that the company's actual valuation far exceeds the estimated 11 billion dollars. RLUSD's direct impact on the stablecoin market is evident, competing with giants like Tether (USDT) and USD Coin (USDC).

The introduction of RLUSD has become a significant strategic step for Ripple, enhancing its ecosystem. Ripple showcases confident growth and a determined path forward.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Hut 8 Wins Bid for Poolin's Texas Datacenter Sites

Hut 8 has successfully bid $140 million for two datacenter sites owned by the bankrupt mining company Poolin.

user avatarLucas Weissmann

Senate Banking Committee Democrats Request Hearing on Prediction Markets

Democratic members of the Senate Banking Committee request a public hearing to examine the growing issue of prediction markets and their regulatory implications.

user avatarFilippo Romano

Crypto Economic Activity Remains Strong Despite Market Downturn

Crypto economic activity has shown resilience despite a significant drop in market capitalization, indicating a shift in market dynamics.

user avatarEmily Carter

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Galaxy Invests $100 Million in Onchain Credit Infrastructure

Galaxy has invested $100 million in Sky Protocol's yield-bearing sUSDS, integrating it into its corporate treasury and allowing it as collateral for institutional trading.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.