Coin-Turk 6 minutes ago
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Ripple 
$2 Labs’ newly launched stablecoin, RLUSD, is rapidly gaining traction by surpassing competitors in 24-hour trading volume. Despite being a newcomer in the market, RLUSD has shown remarkable growth, outpacing PayPal’s PYUSD and Circle’s EURC tokens, even though its market capitalization is smaller than those two.
Market Performance of RLUSD
According to CoinMarketCap, the market capitalization of Ripple’s stablecoin has reached $53.1 million. Furthermore, the stablecoin’s 24-hour trading volume increased by 1,566% to $607.58 million. This unexpected surge starkly contrasts with PYUSD’s market value of $491.72 million and its 24-hour volume of $19.74 million. Meanwhile, Circle’s EURC shows a market capitalization of $82.38 million and a trading volume of $10.55 million.
User Growth and Market Position
Ripple Labs indicated that they have broader plans for RLUSD beyond facilitating direct payments. The company is making ambitious strides in Real World Asset (RWA) tokenization through a partnership with Archax, emphasizing that the new stablecoin w…
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