Ripple's stablecoin, RLUSD, has officially hit a major psychological and economic milestone, surpassing $300 million in market capitalization. The latest numbers show the market cap at $316.98 million, with the stablecoin holding its price at $1.
Right now, according to CoinMarketCap, RLUSD is ranked 12th among all stablecoins. This puts Ripple's asset in a strong position, especially since it is so new and has a pretty small holder base. Another interesting thing to note is the volume-to-market cap ratio of 12.08%, which is quite active for a stablecoin category.
One interesting thing about RLUSD is that it does not have a maximum supply limit. This lets Ripple increase issuance based on market demand without breaking the 1:1 peg with the U.S. dollar.
Ripple's ambitions in the stablecoin sector are well-known. The global stablecoin market is expected to grow to $2.8 trillion by 2030, and the tokenization market could reach $16 trillion in the next 10 years. This means that RLUSD could become a key part of Ripple's long-term strategy.
Also, XRP Ledger-based decentralized financial (DeFi) applications could become an important group to watch. As more and more people start using it on different platforms, it could make the XRP token more popular, which might increase demand and make it used for more things.
This $300 million milestone is seen as both a technical achievement and a signal of Ripple's ambitions in the financial technology world. But this might be just the beginning.
Vladislav Sopov
Dan Burgin