As an analyst with over two decades of experience in the finance and technology sectors, I have witnessed the evolution of digital currencies from their infancy to becoming a significant part of our global economy. The launch of Ripple‘s USD-pegged stablecoin, RLUSD, is yet another milestone in this journey.
Users within the XRP community are currently able to monitor the newly introduced Ripple USD (RLUSD) stablecoin across numerous cryptocurrency ranking sites, including CoinGecko, CoinPaprika, and CoinMarketCap.
Based on the information from CoinMarketCap, a total of approximately 53.18 million RLUSD tokens are available for use at present.
The stablecoin recorded $549,820 in trading volume on its debut day.
According to U.Today’s report, the stablecoin started operating on several platforms like Uphold, MoonPay, Keyrock, and Bitso yesterday. Soon, it is expected to be available for trade on other prominent exchanges such as Bitstamp and Bullish.
Following its initial release, I observed a surge in demand and a scarcity of supply that temporarily drove the stablecoin’s value up to approximately $1.68. Yet, as anticipated, it quickly returned to its stabilized state within a reasonable timeframe.
It seems that RLUSD has not shown up on CoinGecko’s stablecoin list as of now, and it might take some time before this new product can climb its way up the rankings.
Among all stablecoins, Tether (USDT) leads significantly with a market capitalization of $140 billion, followed closely by Circle’s USDC which holds $42.8 billion. Coming in third is Ethena’s USDe, a synthetic stablecoin built on the Ethereum network, with a market cap of approximately $5.9 billion.
To make it into the list of the top ten most significant stablecoins, the market capitalization of RLUSD must exceed $500 million.
RLUSD is being marketed as a completely regulated digital currency that maintains its value, differentiating it from certain competing stablecoins.
Lately, experienced professional Andre Casterman labeled RLUSD as a disruptor within the cross-border payment industry.
Read More
- USD PHP PREDICTION
- POL PREDICTION. POL cryptocurrency
- Hunter x Hunter: Togashi Reveals the Rarest Nen Type In The Series
- Brent Oil Forecast
- ZIG PREDICTION. ZIG cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- Bitcoin (BTC) on Verge of Losing $60,000, Is Shiba Inu (SHIB) Ready for It? Solana (SOL) Forms Reversal Pattern
- Pokemon Is Collaborating With Dua Lipa
- Final Fantasy 7 Gets Switch Update
- HBOs The Last of Us Used Heavy Make-up To Cover One Characters Real-Life Injury
2024-12-18 18:58