Recently, Ripple USD (RLUSD) has shown growth in the cryptocurrency market, surpassing Zcash (ZEC) in market capitalization due to the passing of the GENIUS Act, which has improved sentiment in the sector.
RLUSD Surpasses Zcash in Market Capitalization
Ripple USD (RLUSD) has become the 104th largest crypto asset with a market capitalization of $602.6 million, overtaking Zcash by $32 million. As a stablecoin, RLUSD maintains a pegged value of $1.
Zcash Loses Ground Amid Challenges
Zcash has slipped to 106th place after a decline of 11% in the last week, currently trading at approximately $35.20. The coin trades below key moving averages and exhibits prolonged bearish momentum, having lost 99% from its all-time high.
Future of RLUSD in the Stablecoin Market
RLUSD ranks 8th among stablecoins, boosted by institutional support and a trading volume of $35.8 million. Analysts predict that RLUSD may soon enter the top 100 if current market conditions persist.
Overall, the rise of Ripple USD (RLUSD) and the decline of Zcash highlight the dynamics in the cryptocurrency market, where stablecoins find support in uncertain conditions.
