Ripple's RLUSD Achieves $1.65 Billion Market Cap..."PYUSD and USD1 Will Eventually Bow Down"

▲ U.S. Securities and Exchange Commission (SEC), RLUSD/ChatGPT generated image

Ripple's stablecoin RLUSD has achieved a significant milestone, with its circulating supply surpassing figures from late April. As adoption continues to grow, its market presence is rapidly expanding.

According to CoinMarketCap data cited by crypto media outlet U.Today on May 20 (local time), RLUSD's market capitalization increased by approximately 3% over 24 hours, exceeding $1.65 billion. Considering that Ripple's stablecoin was launched less than two years ago, this achievement demonstrates the rapid asset adoption in line with Ripple's aggressive expansion efforts.

The current supply level of $1.65 billion is an increase of approximately 2.9% from the previous high of $1.603 billion recorded at the end of last month. This suggests that the integration of RLUSD by businesses is increasing amidst fierce competition in the stablecoin market, and new funds are consistently flowing into Ripple's stablecoin.

Despite achieving a new milestone, RLUSD still lags behind the supply of major competitors such as PYUSD and USD1. However, the surge in market capitalization and rapid growth since its launch are further strengthening its market position and credibility, continuously boosting its utility. Market participants believe that as Ripple's stablecoin rapidly gains traction among users and institutions, it is on track to surpass competitors and dominate the stablecoin market in the future.

Ripple has consistently maintained a 1:1 pegged market value with the dollar while driving supply expansion. Ripple has deployed essential mechanisms to maintain consistent demand through continuous issuance and burning activities. As evidenced by this milestone, Ripple has secured increased demand and deep liquidity for RLUSD. Furthermore, it has promoted the broader use of the stablecoin across trading, payment, and institutional settlement platforms.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*