In a recent tweet, XRPL dUNL validator Vet highlighted Ripple USD (RLUSD) stablecoin's leadership among other stablecoins in capital efficiency.
RLUSD Efficiency
Vet stated that RLUSD is the most capital-efficient stablecoin in the current crypto market, boasting the highest volume-to-TVL ratio at 37%. It leaves other top stablecoins behind, such as PayPal USD (6.5%), Circle USDC (14.26%), DAI (2.27%), and Ethena USD (2.1%). Tether USDT closely follows with a 34% ratio.
RLUSD Market Cap Growth
According to CoinMarketCap, RLUSD's market capitalization has increased since its launch in December 2024, reaching more than $193.67 million. This surpasses internal projections, as stated by Ripple executive Jack McDonald, who shared an expectation that RLUSD would become one of the top five stablecoins by the end of the year. This aligns with a recent remark by Ripple CEO Brad Garlinghouse.
Cryptomarket Dynamics
The RLUSD stablecoin has seen a 220% increase in trading volumes in the last 24 hours, reaching $81.2 million, according to CoinMarketCap. This increase occurs amidst the broader cryptocurrency market experiencing volatility, with several crypto assets in the red.
Stablecoins like RLUSD are becoming increasingly significant in the crypto space, offering traders and businesses stability amidst market volatility.
