11h05 ▪
4
min read ▪ by
Ripple never lags behind when it comes to innovation. Between XRP, its historic asset, and RLUSD, the new stablecoin in full expansion, the ecosystem is buzzing. The blockchain platform has just crossed an impressive milestone, propelling its RLUSD to a jaw-dropping trading volume. But beyond the staggering numbers, a major announcement is in the works that could well shake up the crypto market.
Ripple: an avalanche of RLUSD and a well-oiled strategy
The Ripple news: this crypto giant has just made a big move by issuing 1.79 million RLUSD on the Ethereum blockchain. This operation, led by Ripple Treasury, is just one step in a well-orchestrated strategy: in less than 24 hours, 6.7 million of these stablecoins have moved between anonymous wallets and key players like Bitstamp.
RLUSD, which operates on Ethereum and XRP Ledger, comes with strong guarantees. To date, Ripple has a reserve of 83 million dollars to cover the 80 million RLUSD in circulation.
An attestation, expected by the end of the month, promises to shed light on the exact composition of these assets.
Here are some key figures to remember:
- 607.9 million dollars in volume over 24 hours;
- A position in the top 4 of the most traded stablecoins;
- More than 1.5 million RLUSD transferred by Bitstamp.
Paul Barron, on X, summed up the feat in an enthusiastic tweet:
« Ripple Stablecoin $RLUSD has surpassed 600 million to become the 4th stablecoin in volume over 24 hours!»
The crypto market facing a rising power of Ripple
With over 100 billion dollars in XRP held, Ripple not only has a war chest but also a clear vision. CEO Brad Garlinghouse, while dismissing IPO rumors, emphasizes that the company’s actual valuation far exceeds the estimated 11 billion dollars.
This rise does not go unnoticed. This is evidenced by the impact of RLUSD on the stablecoin market, where it competes with giants like Tether (USDT) and USD Coin (USDC).
Fox Business, during a recent report, reminded that Ripple once had the second-largest market capitalization before its troubles with the SEC.
A reminder that the story of Ripple is far from over.
In conclusion, RLUSD establishes itself as a significant ally for Ripple, allowing XRP to ride this positive wave and reach new heights. A new era opens for the Ripple ecosystem, ready to conquer even uncharted heights.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
