RLUSD stablecoin now sees surge in trading volume which underscores the growing acceptance and utilization of RLUSD in the market.
In a remarkable shift within the cryptocurrency landscape, Ripple’s RLUSD stablecoin has experienced a staggering 106% increase in trading volumes over the past 24 hours.
Highlighted by the latest data from CoinMarketCap.
Significant Volume Growth
The trading volume for RLUSD has reached approximately $39 million in just one day, reflecting a robust demand among users.
This impressive uptick in activity demonstrates the stablecoin’s rising prominence and the confidence traders have in its stability and utility.
Leading Trading Pairs
A substantial portion of the trading volume originates from the RLUSD/USDC pair on the Bullish exchange, accounting for about 55.02% of the total trades.
This indicates a strong interest in RLUSD among traders seeking to transact between these two stablecoins.
Additionally, the BTC/RLUSD pair contributed 23.15% to the overall volume, while the XRP/RLUSD pair made up 12%.
Such diverse trading pairs enhance the liquidity and accessibility of RLUSD across various platforms.
Ripple’s Strategic Launch
Ripple’s RLUSD stablecoin is pegged to the U.S. dollar on a one-to-one basis and is designed for use on both the XRP Ledger and Ethereum networks.
This dual issuance allows RLUSD to be utilized in a wide array of applications, including cross-border payments and decentralized banking solutions.
The stablecoin debuted globally on December 17, 2024, with initial listings on popular platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso.
Trading Expansion
Following its initial launch, RLUSD made a significant step forward by going live on Bullish on December 24, 2024.
This enabled trading across various markets including RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD.
The addition of these trading pairs not only increases RLUSD’s reach but also positions it strategically within the competitive stablecoin market.
Notable Milestones
On the same day as its Bullish launch, RLUSD also debuted on Independent Reserve, Singapore’s first cryptocurrency exchange to list the stablecoin.
This milestone marks a significant chapter not just for the XRP Ledger but for Ripple’s broader payment ecosystem.
As stablecoins have traditionally been utilized for trading, Ripple is keen on exploring additional use cases that can complement its existing business operations.
The recent surge in trading volume for Ripple’s RLUSD stablecoin highlights its growing traction in the cryptocurrency market.
With its strategic launch and broad application potential, RLUSD is poised to become a valuable asset in the evolving landscape of digital currencies.
As Ripple continues to innovate and expand, the future looks promising for this stablecoin and its role in the broader financial ecosystem.
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Also Read: RLUSD Is A Massive Game Changer According To SWIFT Veteran
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