Ripple's RLUSD Stablecoin Trading Volume Surges 106%: Details

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Notably, the trading volume of the RLUSD stablecoin has significantly increased by 106% in the past 24 hours. According to CoinMarketCap data, the trading volume of RLUSD has surpassed $39 million, indicating a sustained rise in the appeal of this stablecoin in the market.

Most of the trading volume comes from the RLUSD/USDC trading pair on the Bullish exchange, accounting for 55.02%, suggesting strong demand for RLUSD among users trading between these two stablecoins. Additionally, the BTC/RLUSD trading pair contributed 23.15%, while the XRP/RLUSD trading pair accounted for 12%.

Background and Application Scenarios of RLUSD

RLUSD is a stablecoin pegged to the US dollar at a 1:1 ratio, designed to provide native support for the XRP Ledger and Ethereum network, widely used in various scenarios such as cross-border payments and decentralized banking. Ripple first launched Ripple USD (RLUSD) globally on December 17 and listed it on platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso, with more platforms expected to support RLUSD trading in the coming weeks.

Support from Bullish and Other Platforms

On December 24, RLUSD was also listed on the Bullish exchange, supporting multiple market trading pairs including RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD. On the same day, RLUSD made its debut on Independent Reserve in Singapore (the first listed stablecoin cryptocurrency exchange in Singapore), further expanding its market presence.

Ripple's Strategic Goals

The launch of RLUSD marks a new chapter in the application of the XRP Ledger and Ripple in the payment sector. While stablecoins are typically used for trading purposes, Ripple's goal is to complement its existing business with RLUSD, expanding the use cases of stablecoins, especially in cross-border payments and decentralized finance (DeFi).

Overall, the strong demand and growth in trading volume for RLUSD reflect the market's high attention to this stablecoin, further enhancing Ripple's influence in the global cryptocurrency payment sector.

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