Total market capitalization of Ripple USD ($RLUSD) is currently sitting at $1.58 billion, according to CoinGecko data.
This hot stablecoin is currently just a few steps away from reaching the $1.6 billion milestone. Latest 10 million mints About the XRP Ledger that took place earlier today.
$RLUSD It is currently the 52nd largest cryptocurrency in the entire global market. This makes it the 12th largest stablecoin currently in circulation.
Ripple’s current position
While a few established giants continue to rule the roost, new entrants $RLUSD It is rapidly gaining multi-billion dollar market share.
Tether (USDT) remains the undisputed king with a staggering $183.6 billion market capitalization. This is followed by Circle’s USDC at $77 billion. They are responsible for the majority of stablecoin liquidity.
Below the top two, the market is divided into specialized and decentralized options. Sky’s USDS (formerly Maker’s DAI Ecosystem) holds the 12th spot in the overall cryptocurrency spot with an impressive market capitalization of $10.7 billion. Ethena’s yielded USDe is $5.9 billion.
PayPal USD (PYUSD) currently leads the group of highly regulated corporate stablecoins with $4.19 billion. Recently launched assets such as Falcon USD (USDF) and Global Dollar (USDG) sit just above Ripple with approximately $1.73 billion and $1.72 billion, respectively.
For $1.58 billion, $RLUSD has managed to leapfrog several established players and currently surpasses Binance’s BFUSD ($1.31 billion) and Tron’s USDD ($712 million).
tons of mint moon
of $RLUSD The Ministry of Finance embarked on a fairly aggressive minting strategy in February.
The San Francisco-based giant received a new injection of about $75 million. $RLUSD It went into circulation in just three weeks in February.
A huge amount of 30 million $RLUSD Minted at the Ministry of Finance on February 9th. Another 20 million tranches were issued. $RLUSD was minted on February 19th and transferred to Ripple’s primary distribution wallet. This momentum continued into the second half of the month.
as U.Today reportedRipple recently conducted its largest one-day mint in history, issuing a total of 69 million tokens.
