Blockworks’ third-quarter report on Ripple, published today, revealed noteworthy figures regarding XRP investment products and stablecoin usage on the XRP Ledger.
According to the report, global XRP exchange-traded products recorded net inflows of $355.3 million in the third quarter. This represents a 39.6 percent increase compared to the previous quarter. Of these inflows, $316.4 million occurred in August and September.
The total assets managed by these products also increased from $2.01 billion to $3.32 billion. Excluding futures-based funds, the amount of XRP held in the products increased by 16.7 percent to 2.05 billion coins.
The stablecoin supply on the XRP Ledger has surpassed the $1 billion mark for the first time, reaching $1.03 billion. The main driver of this growth was Ripple’s RLUSD, whose supply on the network increased by 49.7% to approximately $1.01 billion.
Stablecoin transaction volume also increased by 39.5%, reaching $14.09 billion. However, the report also showed a decrease in the total number of transactions, transaction fees, and the amount of coins burned.
*This is not investment advice.
