RLUSD has continued to draw attention across the crypto ecosystem after its issuer, Ripple, confirmed that the stablecoin has surpassed a major milestone.
Per data provided by CoinMarketCap, RLUSD has crossed $2 billion in market capitalization, sitting at $2,091,648,295.05 as of August 26, following a modest increase of 0.66% over the last 24 hours.
RLUSD supply on XRP Ledger nears 1 billion
While the stablecoin was only launched in December 2024, RLUSD has continued to gain traction, hitting major milestones within just months of its emergence.
Following this milestone, Ripple further revealed that nearly 1 billion of the total RLUSD supply has been issued on the XRP Ledger. This suggests that its strong network growth has also contributed to the rising activity around the stablecoin.
In a recent post discussing RLUSD's rapid growth, Ripple mentioned that the stablecoin was designed with real-world utility and enterprise use cases in mind, drawing interest from both retail and institutional users.
Nonetheless, the steady expansion in the RLUSD market capitalization is attributable to Ripple's relentless efforts to boost the stablecoin's presence across payments, liquidity, and institutional applications.
RLUSD and XRP gaining market buzz
While the massive RLUSD milestone was reached last week, it has arrived at a time when the broader Ripple ecosystem began to see rising momentum, especially after XRP saw a major price breakout.
When RLUSD reached this major milestone, XRP also saw its price record an explosive surge of nearly 50% by the end of the same week.