Ripple never lags when it comes to innovation. Between XRP, its historic asset, and RLUSD, a new stablecoin in full expansion, the ecosystem is in turmoil. The blockchain platform has just reached an impressive milestone, propelling its RLUSD to breathtaking trading volume. But beyond the dizzying figures, a big announcement is brewing, which could well shake the crypto market.
Ripple: an avalanche of RLUSD and a well-oiled strategy
Ripple news: this crypto giant has just struck a major blow by issuing 1.79 million RLUSD on the Ethereum blockchain. This operationled by Ripple Treasury, is just one step in a well-orchestrated strategy: in less than 24 hours, 6.7 million of these stablecoins moved between anonymous wallets and key players like Bitstamp.
RLUSD, which evolves on Ethereum and XRP Ledger, is accompanied solid guarantees. To date, Ripple has a reserve of $83 million to cover the 80 million RLUSD in circulation.
A certificate, expected by the end of the month, promises to lift the veil on the exact composition of these assets.
Some key figures to remember:
- $607.9 million in 24-hour volume;
- A position in the top 4 most traded stablecoins;
- Over 1.5 million RLUSD transferred through Bitstamp.
Paul Barronon X, summed up the feat in an enthusiastic tweet:
“ Ripple Stablecoin $RLUSD surpassed 600 million to become the 4th stablecoin by 24-hour volume! »
The crypto market faces a rise in power from Ripple
With over $100 billion in XRP held, Ripple not only has a war chest, but also a clear vision. CEO Brad Garlinghouse, while brushing aside rumors of an IPO, emphasizes that company's actual valuation far exceeds estimates of $11 billion.
This rise in power has not gone unnoticed. As evidence the impact of RLUSD in the stablecoin market, where it competes with behemoths like Tether (USDT) and USD Coin (USDC).
Fox Business, during a recent report, recalled that Ripple once had the second largest capitalization before its troubles with the SEC.
A reminder that Ripple's story is far from over.
In conclusion, RLUSD stands out as a major ally for Ripple, allowing XRP to ride this positive dynamic and reach new highs. A new era is dawning for the Ripple ecosystem, ready to conquer still unexplored heights.
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