The RLUSD stablecoin from Ripple Labs has shown significant growth on Bullish Exchange, despite a decline in its overall trading volume. Let's take a closer look at its current performance and role in the ecosystem.
RLUSD Market Growth
After RLUSD's launch on top global exchanges, Bullish became a vital platform for the stablecoin. According to CoinMarketCap, its trading pairs RLUSD/USDC and RLUSD/XRP rose significantly in the past 24 hours: RLUSD/USDC increased by 49%, and RLUSD/XRP by 35.88%. The total trading volume stands at approximately $160 million.
RLUSD's Role in Ripple Ecosystem
RLUSD plays a crucial role in Ripple Labs' ecosystem, particularly within the XRP Ledger operations. The stablecoin will support liquidity on the pool’s AMM engines and participate in the tokenization program.
Plans for RLUSD Development
Ripple Labs plans to integrate RLUSD into other ecosystems and develop partnerships, including a collaboration with the Cardano blockchain.
The positive trend of RLUSD on the crypto scene underscores its importance for Ripple Labs and the overall crypto market.
