Ripple's RLUSD is quickly attracting strong attention in the European crypto market.

This MiCA-compliant stablecoin has maximized its advantage from launching at a time when the European Union is undergoing significant regulatory transformation.

RLUSD finds opportunities in the decline of USDT in Europe

According to analysis from CryptoQuant, since the start of testing in June 2024, RLUSD has executed a total of 33,953 transactions on XRP Ledger and 1,690 transactions on Ethereum.

Source: CryptoQuant

This rapid increase in trading volume accurately reflects the design of RLUSD as a compliant asset, providing an advantage as the European Union implements new MiCA regulations.

With Tether's USDT being delisted in Europe for failing to meet compliance requirements, analysts from CryptoQuant believe that RLUSD is seizing the opportunity to become a MiCA-compliant stablecoin to replace Tether, thereby further driving the increase in adoption and trading activity.

This development comes right after USDT experienced the largest drop in market capitalization in the first week of January, falling to its lowest level since the collapse of FTX in November 2022.

This decline primarily stems from MiCA regulations, leading many exchanges in the EU to delist USDT for compliance violations. Although EU traders can still hold USDT in non-custodial wallets, trading on MiCA-compliant exchanges is restricted. However, experts still believe that this delisting will not significantly affect USDT's dominant position.

Launch of the RLUSD strategy

Ripple's RLUSD stablecoin officially launched in mid-December after receiving approval from the New York State Department of Financial Services (NYDFS), following a thorough testing and preparation phase. Pegged to the US dollar at a 1:1 ratio, RLUSD is a crucial part of Ripple's strategy to promote cross-border payments.

This stablecoin has quickly been adopted by major exchanges such as Uphold, Bitstamp, Bitso, Moonpay, and CoinMENA. Recently, Bullish, a cryptocurrency exchange backed by Peter Thiel, has also integrated RLUSD, introducing trading pairs such as RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD.

Meanwhile, Ripple's Chief Technology Officer, David Schwartz, has warned the community about FOMO surrounding the launch of RLUSD. On social media platforms, he pointed out price anomalies, citing an instance when RLUSD was listed at $1.2 on the Xaman platform due to speculative behavior and limited supply during the initial rollout.

However, Schwartz also reassured that these fluctuations will stabilize quickly thanks to price adjustment trades, asserting that the fixed price of $1 for RLUSD will be maintained.



https://tapchibitcoin.io/mica-giup-rlusd-cua-ripple-vuot-33-000-giao-dich-trong-6-thang.html