Having achieved a major victory in its legal battle with the SEC, Ripple (XRP) continues to achieve new victories.
At this point, the weekly RLUSD transfer volume of Ripple USD (RLUSD), a stablecoin released by Ripple, on the Ethereum (ETH) network has exceeded $1 billion.
According to data from on-chain analytics firm Token Terminal, RLUSD's volume on Ethereum (ETH) has surpassed $1 billion as of today.
This comes a year after Ripple launched RLUSD at the end of last year.
“The fact that a stablecoin has maintained its supply less than a year after its launch suggests that RLUSD is providing stable usage.”
The analytics firm, which noted that the number of RLUSD holders is approximately 6,000, has increased eightfold since the beginning of the year. “The fact that the increase in the number of holders is keeping pace with the increase in supply means that the supply is not concentrated in a few addresses but is distributed,” Token Terminal said.
As you may recall, Ripple USD (RLUSD) reached a significant milestone by surpassing the $1 billion market capitalization less than a year after its launch in early November.
While this is a major achievement for RLUSD, which has a market capitalization of $1 billion, it still lags far behind stablecoin giants like Tether (USDT) with a market capitalization of $184.5 billion and Circle (USDC) with a market capitalization of $76 billion.
*This is not investment advice.
