Ripple Pushes for Stablecoin Market Share

Ripple Pushes for Stablecoin

 Market ShareWith this latest mint, RLUSD’s circulating supply has grown significantly. Market analysts now estimate the total supply is approaching $500 million in value. This could be a key step for Ripple in the stablecoin race.

Ripple launched RLUSD to compete with Tether’s USDT and Circle-issued USDC stablecoins. It is designed for payments, trading, and on-chain liquidity. Ripple also hopes it will become a preferred asset for DeFi apps. The growing supply shows rising demand for RLUSD across crypto platforms.

These 13 million mint shows Ripple’s commitment to scaling its ecosystem. On-chain data shows that the stablecoin’s market cap right now is $428.7 million.

However, Traders and investors are watching closely for how fast RLUSD can reach the $500 million mark. If the current trends continue, that milestone could be hit within weeks.

In addition, on-chain data shows healthy wallet distribution for RLUSD. No single address holds too large a share, which is a good sign. It also supports the view that RLUSD is gaining adoption in different sectors.