In a bewildering twist of fate, Ripple USD (RLUSD) has claimed a fresh crown, overtaking the much-fabled Bitcoin SV (BSV) at the esteemed podium of CoinMarketCap. Once an approximation of Satoshi Nakamoto’s original mission — a lofty ideal that has disintegrated like mist in the morning sun — RLUSD now lounges comfortably at 116th place, brandishing a market capitalization of $557.7 million.
Meanwhile, BSV, now stranded at 117, grapples with a hefty 4.45% plunge in the past day. Oh, the tragedy! Poor BSV has become the sad clown in this carnival we call crypto. But fear not, for RLUSD marches on, persisting at the serene price of $1.00, as is the call of any self-respecting dollar-backed stablecoin. However, it’s not just about the numbers; it’s about the sheer grandeur of contrast — Ripple has dazzled with a mind-boggling $512 million in 24-hour trading volume — nearly nine times the forlorn $58 million of its rival.
With a market cap embracing $557.7 million, one could muse that a ratio of 91.9% to volume is an entirely unnatural level of market enthusiasm. Who knew the crypto world could be so… passionate?
Just a fort-night ago, RLUSD tipped the scales past the hallowed territory of half-a-billion market cap. Now, it basks as the eighth largest stablecoin overall, claiming a dignified seat among its $227 billion stable brethren, ranked eighth among USD-pegged stalwarts. Such glamour in the depths of finance, one could almost laugh! 😂
The fervor surrounding Ripple USD is as palpable as the scent of fresh bread in the morning. The venerable BNY Mellon, the oldest bank in the United States with more assets than one knows what to do with — over $2 trillion, no less — is now tasked with the guardianship of the reserves backing this audacious coin.
Yet, like any good tale, caution lurks in the wings. Bloomberg chimes in with their conservative forecast, suggesting that JPMorgan finds the grand prospect of a $2 trillion stablecoin market by 2028 to be more fantasy than reality. They assert that the infrastructure lies in tatters and expect growth to merely double or triple from today’s whimsical realms.
For Ripple and its enigmatic stablecoin, even these tempered expectations might just sprinkle enough magic dust to expand their market presence, claiming a more substantial slice of the stablecoin “pie.” 🍰
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2025-07-24 19:23