Stablecoin Issued by Ripple Experiences Significant 37% Volume Surge: Causes Explored
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Wow, Ripple's stablecoin, RLUSD, is on a roll! According to CoinMarketCap, the 24-hour trading volume for this bad boy just freakin' soared by 37.72%, hitting an impressive $68.58 million. That's some serious action, folks!
So, what's got everyone talking? Ripple USD is now one of the most buzzed-about stablecoins out there - rival big-hitters USDT and USDC better watch their backs! But it's not just the excitement - Ripple USD's volume-to-market cap ratio has skyrocketed to a whopping 21.6%, suggesting a major upswing in transaction and trading activity.
And you might've missed this: Coinbase CEO's finally speaking out on critical stablecoin law, Coinbase snagging Deribit for nearly $3 billion, Bitcoin smashing yet another all-time high... yada yada yada. But boom, here we are, focusing on RLUSD!
The volume spike? Down to one key factor - yesterday's listing of RLUSD on none other than Gemini, a frikkin' major U.S. crypto exchange! Listings on these high-profile, regulated platforms bring liquidity boosts and broaden market exposure. So, you can thank Gemini for your new pool of potential trading partners!
With a market cap of approximately $317 million, Ripple USD ain't the biggest kid on the block - Tether, USDC, and DAI still rule the roost. But hey, it's not all lost. Ripple's slowly carving out a space for itself in these rankings.
But wait, there's more! Ripple's been rumored to be trying to muscle in on Circle's USDC stablecoin biz, with offers ranging from $5 billion to $20 billion on the table[1]. No deal? Yet. But it shows ol' Ripple ain't settling for second place!
Will this recent hype translate into something long-term? Looks like RLUSD's the stablecoin to watch in 2025[3]!
[1] Ripple Makes Offer to Acquire Circle's USDC Stablecoin Business (CoinDesk)[2] Gemini Lists Ripple’s RLUSD Stablecoin (Cointelegraph)[3] Ripple's RLUSD Breakout Week: A Stablecoin to Watch in 2025 (The Token Tank)[4] Ripple's RLUSD Listed on Multiple Exchanges, Seeing Growing Adoption (Finance Magnates)[5] Ripple's Q4 Report Shows Strong On-Chain Activity Facilitated by RLUSD (Coin Spectator)
- The trading volume for Ripple's stablecoin, RLUSD, reportedly surged by 37.72% in the past 24 hours, reaching a significant $68.58 million, as per CoinMarketCap.
- Gemini, a leading U.S. crypto exchange, recently listed RLUSD, which is believed to have contributed to the boost in trading activity due to the liquidity and market exposure it offers.
- Despite having a market cap of approximately $317 million, Ripple USD is making a mark in the stablecoin market, slowly carving out a space amidst Tether, USDC, and DAI, the current market leaders.
- Rumors suggest that Ripple is aiming to compete with Circle's USDC stablecoin business, with offer amounts ranging from $5 billion to $20 billion on the table, demonstrating Ripple's ambition to secures a higher position in the market.
- Ripple's Q4 report indicates strong on-chain activity facilitated by RLUSD, according to Coin Spectator.
- In 2025, RLUSD has potential to be a stablecoin to watch, as suggested by The Token Tank.
- Ripple's RLUSD has been listed on multiple exchanges, triggering growing adoption and increasing its standing in the crypto market, as reported by Finance Magnates.
