EddieJayonCrypto

 1 Apr 25

tl;dr

Ripple, a San Francisco-based blockchain company, has minted a record-breaking 50 million tokens on Ethereum, making it the largest single-batch mint to date by a large margin. In addition, the company minted a total of 61.3 million tokens in March, with more than 28 million RLUSD issued on March 17...

Ripple has minted a record-breaking 50 million RLUSD tokens on Ethereum, aiming to secure a top five placement in stablecoins by the end of the year with a market cap target of over $3 billion. The total market cap of RLUSD has reached $243 million, boasting a high volume-to-market cap ratio and witnessing significant trading activity on Peter Thiel-backed cryptocurrency exchange Bullish.


Ripple's SVP of Stablecoin has disclosed RLUSD's rapid growth, expanding beyond DeFi liquidity pools to NGOs like Mercy Corps Ventures, positioning it to become a major player in the stablecoin space. The company's CEO aims to place RLUSD among the top five stablecoins by the end of the year, necessitating a market cap of over $3 billion. RLUSD has the highest volume-to-market cap ratio and is experiencing notable growth, utilized in DeFi liquidity pools and by organizations like Mercy Corps Ventures. Analytics firm IntoTheBlock indicates that RLUSD is positioned to become a major player in the stablecoin space.

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