The RLUSD stablecoin has shown a significant increase in trading volumes, according to CoinMarketCap data.
Increase in Trading Volumes
According to CoinMarketCap, RLUSD's trading volume reached $39 million over the past 24 hours, marking a 106% increase. The bulk of the trading comes from the RLUSD/USDC pair on the Bullish exchange, accounting for about 55.02% of the total volume.
Debut on Crypto Exchanges
RLUSD entered the global market on December 17, initially featuring on platforms such as Uphold, MoonPay, CoinMENA, Archax, and Bitso. On December 24, RLUSD became available on Bullish and debuted on Independent Reserve, Singapore's first cryptocurrency exchange to list the stablecoin, offering multiple trading pairs.
Future Prospects of RLUSD
The introduction of RLUSD marks a new phase for both XRP Ledger and Ripple in payment flows. While stablecoins have primarily been used for trading, other use cases are emerging.
RLUSD is experiencing a significant uptick in market interest, indicating its demand and future potential.
