Ripple USD (RLUSD), a stablecoin tied to the Ripple ecosystem, has achieved a significant milestone by entering the top 100 largest cryptocurrencies. Its current market cap stands at $687.7 million.
Ripple USD Market Achievements
Launched this year, RLUSD has achieved a market capitalization of $687.7 million with a circulating supply of 687.95 million tokens. The stablecoin aims to maintain a 1 dollar peg and has shown stability in this regard.
Trading and Liquidity of RLUSD
With a current trading volume of $84 million over 24 hours, RLUSD is beginning to demonstrate daily flows comparable to some mid-tier altcoins despite being launched only a few months ago. It is actively traded on both centralized and decentralized exchanges.
Comparison with Other Stablecoins
According to CoinMarketCap, RLUSD is already positioned alongside other well-known stablecoins. It ranks just below PayPal’s PYUSD, which has a market cap of around $1.15 billion, and above projects like FDUSD and World Liberty USD.
The rapid ascent of Ripple USD into the top 100 cryptocurrencies highlights Ripple's effective strategy in bolstering its position in the stablecoin market and enhancing the utility of its token.
