Ripple’s RLUSD Records Positive Momentum Across Key Metrics

Ripple’s United States dollar-pegged stablecoin RLUSD is only a few million dollars away from reaching the $500 million market capitalization. Also, the platform has recorded the minting of 16 million new tokens within the last 24 hours. There is a general uptick of momentum from all angles. RLUSD Key Metrics Look Promising The total supply of the RLUSD stablecoin has now reached 485.24 million, and at the current rate, crossing the symbolic half a billion milestone may just be a walk in the park. Its trading volume has also jumped by a few percent to reach $40.71 million. Additionally, the RLUSD market cap increased by 3.39% at the same time, reaching $485.21 million. This confirms that positive momentum is being driven across volume, integrations, and banking support. Meanwhile, its performance brings the RLUSD stablecoin in close competition with TrueUSD. In no time, it may rank amongst the top 100 digital assets. ZachXBT Has Concerns About Ripple USD Real Adoption This market cap had first crossed $400 million a few weeks ago with the minting of new RLUSD. The rate of its growth is a clear indication that users and institutions are seeking alternatives to existing stablecoins, such as USDT and USDC. Gradually, RLUSD is establishing its place within a robust crypto infrastructure. Unfortunately, it is still facing issues with certain entities. Blockchain investigator ZachXBT is worried that the project lacks a genuine user base. He is also concerned that the token relies heavily on paid partnerships to create the illusion of real adoption. Furthermore, he compared the Ripple-backed stablecoin to Circle’s USDC, Paxos’s USDP, and Tether’s USDT, claiming that he trusts those issuers more. RLUSD Sees Wide Adoption Meanwhile, RLUSD adoption is ramping up on a global scale, especially with the new AMINA Bank deal. The Swiss bank is the first regulated financial institution to offer RLUSD custody and trading, targeting institutional clients. Still in sync, Ripple has inked a partnership deal with the payment platform OpenPayd. This collaboration aims to boost the accessibility of the stablecoin and integrate it into more payment systems. Prominent exchanges like Bitstamp and Bullish have also adopted the USD-pegged stablecoin. The post Ripple’s RLUSD Records Positive Momentum Across Key Metrics appeared first on TheCoinrise.com .