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In a shocking turn of events, the Ripple stablecoin, RLUSD, has seen a massive surge in activity over the past 24 hours. According to recent data, the trading volume of RLUSD has skyrocketed by an astonishing 80%, surpassing $156.3 billion.
This unprecedented growth has led to RLUSD overtaking DAI, one of the major stablecoins on the market, with a trading volume of $133 million in the same time frame. This sudden influx of activity is a clear indication that investors are increasingly looking towards alternative stablecoin options.
The surge in demand for RLUSD comes as no surprise, given the recent trend of cryptocurrency markets experiencing extreme volatility. As a result, many traders and investors have been forced to re-evaluate their investment strategies and explore more secure alternatives.
RLUSD’s rapid growth has significant implications not only for the Ripple community but also for the broader stablecoin market as a whole.
Source: u.today
