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FIGR_HELOC $1.03 Ripple's RLUSD stablecoin tops $2.5 billion market cap milestone
RLUSD's market cap reached $2.521 billion after Ripple minted $790 million of the stablecoin in 30 days, tracker data shows.
Key takeaways
- Supply grew net. Ripple minted $790 million of RLUSD and burned $638 million in 30 days, a net supply change of $152 million.
- Ethereum still leads. Ethereum holds $1.396 billion in RLUSD supply, $272 million more than the $1.124 billion on the XRP Ledger.
- Volume hit $253.5M. The 24-hour trading volume reached $253.5 million, an increase of 22.72% over the previous day.
What happened
Ripple's RLUSD stablecoin passed the $2.5 billion market cap mark. At press time, the token's market cap was $2.521 billion, up from $2.369 billion a month earlier, according to The Crypto Basic. The milestone came a little over a month after RLUSD crossed $2 billion on Aug. 26.
A community-driven RLUSD supply tracker shows Ripple minted $790 million worth of the stablecoin over the past 30 days across Ethereum and the XRP Ledger. Minting picked up on Sept. 17 and stayed high, and since that date Ripple has deployed $419 million, over 53% of the 30-day total. Before that run, Ripple minted $153.2 million on Sept. 1, the largest single-day mint of the period.
CoinMarketCap data put total supply at 2,520,234,035.02 RLUSD and market capitalization at $2,520,303,254.33, U.Today reported. The 24-hour trading volume reached $253.5 million as of September 30, an increase of 22.72% over the previous day.
Why it matters
The growth is net, not just gross. Ripple burned $638 million of RLUSD in the same 30-day period, leaving a net supply change of $152 million. The report said supply kept rising even as XRP and the broader crypto market struggled this year.
Of the $790 million minted, about $470 million went to the XRP Ledger, The Crypto Basic reported. RLUSD is now the eighth-largest stablecoin by market cap. The XRP Ledger saw more supply activity than Ethereum but also higher burns: $395.7 million on the XRPL against $242.3 million on Ethereum, a net supply change of about +$72 million on each network.
What the data shows
Ethereum remains the larger home for RLUSD, with $1.396 billion in supply, which is $272 million larger than the $1.124 billion on the XRP Ledger.
Intraday minting stayed mostly below $50 million, with occasional spikes such as $76.3 million on Sept. 21 and $130.3 million on Sept. 25, according to the report.
U.Today reported that there are now over 2.52 billion RLUSD tokens in circulation and that the stablecoin has more than 12,650 holders.
Background
RLUSD launched in December 2024. The $2.5 billion milestone came 21 months after that launch, The Crypto Basic reported.
What is still unclear
- The Crypto Basic said RLUSD could cross the $3 billion mark before it clocks two years if it keeps its current pace. That is a projection based on recent supply growth, not a confirmed figure.
Questions readers ask
What is RLUSD?
RLUSD is the stablecoin issued by Ripple. It launched in December 2024 and has grown since then, with more than 12,650 holders, according to U.Today.
How large is RLUSD's total supply?
CoinMarketCap data puts total supply at 2,520,234,035.02 RLUSD, or over 2.52 billion tokens in circulation. Its market capitalization was $2,520,303,254.33.
Which network holds more RLUSD?
Ethereum holds $1.396 billion in RLUSD supply, which is $272 million larger than the $1.124 billion on the XRP Ledger. The XRP Ledger still saw more minting activity over the past 30 days.
How much RLUSD did Ripple mint and burn in the past month?
A community-driven supply tracker shows Ripple minted $790 million of RLUSD over 30 days and burned $638 million. The net supply change over that period was $152 million.
