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Ripple Stablecoin, RLUSD, Skyrockets 102% in Volume as Market Faces Volatility
The market is known for its unpredictability, and the recent volatility has led to some surprising developments. Ripple’s stablecoin, RLUSD, has seen a staggering 102% increase in volume, defying expectations.
RLUSD is a stablecoin linked 1:1 to the U.S. dollar on the XRP Ledger and Ethereum blockchains. It is backed by U.S. dollar deposits, short-term U.S. Treasury securities and cash equivalents, with each token corresponding to an equivalent fiat value.
As the market faces increased uncertainty, RLUSD has seen a surge in volume, indicating growing interest from investors and traders. The stablecoin’s unique features, such as its link to the US dollar and diversified backing, may be contributing factors to its rapid growth.
The 102% increase in volume is a significant development, especially given the market’s turbulent conditions. This growth could be indicative of increased demand for stablecoins, particularly those backed by USD deposits or Treasury securities.
It will be interesting to see how RLUSD performs moving forward and whether this trend continues.
Source: https://u.today/ripple-stablecoin-rlusd-skyrockets-102-in-volume-as-market-faces-volatility
