Ripple’s RLUSD stablecoin has passed the $2B in market cap.
The surge started from 14th August when RLUSD sat at around 1.5B in supply. In the following days, its circulation grew to just over 2B per DefiLlama stablecoin metrics.
It marks the biggest increase in the last 30 days across all of the top major stablecoins.
RLUSD Grows Onchain
RLUSD improved its supply across its 2 main chains.
RLUSD circulation on the Ethereum network increased by nearly 63% to 1.132B. Its native XRP Ledger network saw a more modest 10% gain, now at 975.45M.
This comes after its Q2 attestation report in June showed a slowdown in net new assets and reserves, mirroring broader stablecoin market conditions.
Volume wise, there was a very big spike in the middle of August.
Between 17th August and 23rd August, RLUSD saw $364.8M in stablecoin transactions.
This is the second largest week for RLUSD volume. The first was back in late April with $518.6M in recorded transactions.
