Ripple’s newly launched stablecoin, RLUSD, has made remarkable strides in the stablecoin market just weeks after its mid-December 2024 debut. In a significant milestone, RLUSD has overtaken PayPal USD (PYUSD) and EURC in 24-hour trading volume, signaling its growing acceptance and utility across decentralized finance (DeFi) and banking sectors.
RLUSD’s Record-Breaking Trading Volume
According to data from the Paul Barron Network, RLUSD recorded a daily trading volume of $34.7 million, far exceeding PYUSD’s $19.7 million and EURC’s $12.4 million. This achievement highlights the strong reception RLUSD has received, fueled by its integration with Ripple’s XRP Ledger and its seamless cross-network functionality, including Ethereum.
🚨BREAKING! Ripple USD stablecoin has flipped both PayPal and Euro stable in 24hr Volume only two weeks after its launch. 👀#XRP @xpmarket @UpholdInc pic.twitter.com/DDOGs9dXpc
— Paul Barron Network (@paulbarrontv) January 4, 2025
Ripple designed RLUSD as a bridge between traditional finance and decentralized solutions. Adam Cochran, Managing Partner at Cinneamhain Ventures, has described it as a “Trojan Horse” for Ripple, enabling efficient cross-border transactions while strengthening Ripple’s foothold in the DeFi ecosystem.
RLUSD’s fully backed model and low-cost, high-speed transactions are key drivers of its adoption. As part of Ripple’s strategy to expand its financial services offerings, RLUSD offers unique value propositions for financial institutions and retail users alike.
Also Read: Ripple’s RLUSD Launch Sparks XRP Commitment Debate: Experts Weigh In
Industry Experts Weigh In
Crypto influencer Ben “BitBoy” Armstrong has underscored RLUSD’s importance, noting that stablecoins form the backbone of the crypto industry. RLUSD’s rapid adoption has not only challenged established players like PYUSD but also drawn attention to its potential as a major player in the stablecoin market.
At press time, RLUSD ranked 4th in trading volume, trailing only FDUSD, USDC, and USDT, with a 24-hour volume of $417.8 million. Analysts suggest that RLUSD’s growing prominence could pose a challenge to USDT’s dominance in the market.
Future Outlook for RLUSD
As RLUSD continues to gain traction, its integration with Ripple’s ecosystem offers new opportunities for XRP. Many in the crypto community believe RLUSD could revolutionize the stablecoin market, setting the stage for Ripple’s broader ambitions in DeFi and traditional finance.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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