The trading volume of RLUSD skyrocketed in the last 24 hours and surpasses other stablecoins like DAI or PayPal USD.
RLUSD is the fourth most traded stablecoin in the last 24 hours, surpassing PayPal USD.
The adoption of this asset could boost the price of XRP.
The trading volume of RLUSD, Ripple Labs' stablecoin, exceeded 614 million dollars in the last 24 hours, representing an increase in this indicator of over 1,400%.
In this way, it positioned itself as the fourth most traded stablecoin during the last day, above DAI, PayPal USD, or Ethena USDe (USDe).
The performance of Ripple's digital asset demonstrates that it is starting to gain ground in a market dominated by giants like USDT and USDC, the stablecoins issued by Tether and Circle, respectively.
RLUSD is a stablecoin that maintains a 1:1 parity with the dollar, backed by deposits in the U.S. currency, U.S. government bonds, and cash equivalents, to ensure the stability and liquidity of the asset. Additionally, it is worth noting that it operates on the Ethereum and XRP Ledger networks.
According to data from the Etherscan explorer, there are currently 57.6 million RLUSD issued on Ethereum, with 1,672 transfers recorded. Of that total, 70.97% is under the control of the Ripple Deployer address.
These data reflect that the stablecoin is still in an initial acceptance stage and concentrated ownership, so these movements in trading volume may be indications of a strategy by the company to generate interest in the market.
$SOL ○ Solana presents the "Winternitz Vault" to protect digital assets from quantum computing threats with hash-based signatures, enhancing security with quantum-resistant technology.
○ Neon EVM integrates decentralized applications from Ethereum into Solana, improving interoperability between chains despite some occasional downtime, and enhancing functionality and user experience on the Solana network.
In the last 24 hours, the price of Solana moved -0.55 % to $21 and the trading volume moved +3.23% to $2.49b. $SOL
○ The Total Value Locked (TVL) of the XRP Ledger has increased by 14% following the launch of RLUSD, which has improved investor confidence and secured its position as the third largest market.
○ Ripple is redirecting its focus towards the U.S., aiming to boost XRP growth in light of favorable policy expectations in the event of a possible Trump re-election.
○● Ripple predicts an agreement with the SEC by April, which would benefit XRP; however, appeals could delay any potential sanctions related to the sale of unregistered securities.
○ In the last 24 hours, the price of XRP moved +0.12% to $2.3 and the trading volume moved +12.2% to $4.22b. $XRP
○● Ethereum's Layer 2 solutions improve the network's scalability, but present challenges such as the fragmentation of its ecosystem and potential impacts on ETH's deflationary model, which implies strategic considerations for its long-term evolution.
○● Lido dominates liquid staking with 69.96% of ETH facing a competitive landscape that includes Binance and Rocket Pool, reflecting its influential but vulnerable position in the market.
○ In the last 24 hours, the price of Ethereum moved +0.63% to $3.64k and the trading volume moved +4.23% to $16.19b. $ETH
$TON ○ The NFT function of Telegram enriches the Toncoin ecosystem by integrating tools like TON Space and a blockchain browser, thereby promoting its adoption.
○ The collaboration between Toncoin and Dune Analytics, along with a $5 million acceleration program, facilitates transparency and encourages interactions between different blockchains.
○ The partnership between Toncoin and Jupiter elevates DeFi potential by optimizing liquidity and functionalities across chains within the TON Blockchain. $TON
$ETH ○ Ethereum spot ETFs attracted inflows of $2.1 billion in December, maintaining a dominance of 81.5% since their introduction in July.
○ Ethereum is capitalizing on the surge in Decentralized Finance (DeFi), NFTs, the growing institutional interest, and expected improvements in scalability, along with competitive ETFs.
○ Significant regulatory scrutiny is looming for Ethereum, with calls from industry leaders for policies that promote transparency and support innovation.
In the last 24 hours, the price of Ethereum moved +0.75% to $3.62k and the trading volume moved -27.78% to $15.53b. $ETH
$BTC ○ The increase in Bitcoin's hashrate indicates strong confidence from miners and solid network security, despite ongoing challenges of Proof-of-Work.
○ MicroStrategy plans a perpetual preferred stock offering worth $2 billion to increase its Bitcoin holdings.
○ Bitcoin reached $19 trillion in transactions and a record hash rate, with significant contributions from U.S. mining groups, indicating strong momentum in the market.
○ The Bitcoin ETF market is recovering with inflows of $908 million, backed by political support and growing institutional interest, indicating significant financial interest and confidence in digital assets.
○ In the last 24 hours, the price of Bitcoin moved -0.35% to $97.89k and the trading volume moved -42.22% to $20.24b. January 5, 2025 at 2:36 PM $BTC
$XRP ○ The approval odds for an ETF for XRP increase to 70%, driven by positive changes in the direction of the U.S. SEC and a more favorable regulatory environment for cryptocurrencies.
○ XRP secures its position as the third largest cryptocurrency thanks to favorable regulations from the EU and the introduction of the USD-backed stablecoin from Ripple, RLUSD.
○ XRP is experiencing significant accumulation by large investors and positive market sentiment due to developments related to ETFs, highlighting the potential for institutional support and future price growth. $XRP
$XLM > Stellar's partnership with MoneyGram strengthens its position in cross-border payment solutions by enhancing the efficiency of cash-to-cryptocurrency transactions.
In the last 24 hours, the price of Stellar moved +2.12% to $0.45 and the trading volume moved -0.36% to $1.38b. $XLM
$SOL Solana rises like foam ◦ Solana aims for new highs with possible ETF approvals and strong network activity boosting investor confidence.
○ The Solana ecosystem is experiencing significant growth, with DEX volume approaching that of Ethereum and the ecosystem expanding through major airdrops like the 2.4 billion tokens of Sonic and the $625 million Jupiter campaign.
In the last 24 hours, the price of Solana moved +1.29% to $209 and trading volume moved -7.17% to $3.40b sol$SOL
○ Stellar partners with Fonbnk to enable prepaid SIM card users in Africa to convert airtime into USDC via blockchain technology offering an innovative financial solution in a region with limited financial infrastructure.
○ Highlighted advancements with MoneyGram partnership facilitating cash to crypto transactions and strengthening cross-border payment solutions, thus improving financial accessibility for global users.
In the past 24 hours, Stellar price moved +5.56% to $0.44 and trading volume moved -51.11% to $1.39b. $XLM
$ETH > Ethereum ETFs receive $2 billion inflows by December 2024, signaling a surge in institutional interest and integration with decentralized finance, despite the IRS delaying new tax rules for cryptocurrencies until 2026.
Myria's adoption of StarkWare's ZK-Rollup technology improves Ethereum's scalability up to 9,000 TPS without gas fees, demonstrating a significant technological advancement.
Over the past 24 hours, the price of Ethereum moved -0.21% to $3.43k and trading volume moved +14.14% to $20.08b. $ETH
TODAY'S NEWS $BTC ○ Bitcoin ETFs hold nearly $110 billion, representing 5.7% of the total Bitcoin supply, reflecting broader market integration and significant institutional interest.
○ BlackRock's iShares Bitcoin Trust saw its largest capital outflow to date at $332.6 million, indicating significant investor movement despite previous inflows since the ETF's launch.
Over the past 24 hours, Bitcoin price moved +0.44% to $96.06k and trading volume moved +33.42% to $41.22b. Btc$BTC
◦ Binance Labs expands the BNB Chain, enhancing the blockchain's scalability with AI and ZK technology, incubating various DeFi projects and improving the user experience.$BNB