Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In a recent tweet, Vet, an XRPL dUNL validator, highlighted Ripple USD stablecoin RLUSD's lead over other stablecoins.
In a tweet, Vet stated that "RLUSD is the most capital-efficient stablecoin in the entire crypto market currently. It has the highest volume-to-TVL ratio at 37%. Leaving the other top stablecoins far behind."
Utilizing CoinMarketCap's volume/market cap (24-hour) index, Ripple USD (RLUSD) recorded 39.49%, outperforming other stablecoins; Tether reported 36.45%, while USDC and PayPalUSD showed 15.02% and 6.76%, respectively.
RLUSD's market capitalization has increased since launching in December 2024, reaching more than $193.67 million, according to CoinMarketCap.
Tomiwabold OlajideThis is outpacing internal projections, according to Ripple executive Jack McDonald, who shared a general expectation by the Ripple team that RLUSD would become one of the top five stablecoins by the end of the year, reiterating the prediction made earlier this month by Ripple CEO Brad Garlinghouse.
RLUSD skyrockets 220% in volumes
RLUSD stablecoin has seen a 220% increase in trading volumes in the last 24 hours, reaching $81.2 million, according to CoinMarketCap, as interest in the digital asset grows. The increase comes as the broader cryptocurrency market experiences volatility, with several crypto assets in the red.
Godfrey BenjaminBitcoin was down 1.81% in the previous 24 hours to $81,985 in early Monday session; XRP and Cardano's ADA led big losses, dropping more than 7% in the last 24 hours, while Solana's SOL, Dogecoin (DOGE) and Ether (ETH) plummeted 2% to 3%.
Stablecoins are cryptocurrencies that aim to maintain a one-to-one value with a less volatile asset, usually the dollar, and are primarily utilized by crypto traders to enter and exit positions. They have also grown more beneficial for businesses looking to move money across borders, enabling faster and cheaper digital payments.
Vladislav Sopov
Dan Burgin