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RLUSD Moves $10 Billion Daily, Says Ripple MD Amid Market Cap Questions
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, has sparked a heated debate in the cryptocurrency community by claiming that RLUSD processes $10 billion in daily transaction volume. This staggering figure raises questions regarding its market capitalization of approximately $455 million.
During an interview with Finance World Magazine at the Dubai Fintech Summit, Merrick emphasized RLUSD’s role in enabling instant and low-cost international payments. As a USD-pegged stablecoin, Ripple’s goal is to streamline value transfer without reliance on intermediaries. Since its launch last year, it has reportedly gained traction in markets beyond the United States.
The reported daily volume of $10 billion would translate to an annual volume of $3.65 trillion. This massive figure has sparked debate among crypto analysts and community figures. Some have suggested that Merrick may have intended to state millions instead of billions, which would drastically alter the narrative. The discrepancy between RLUSD’s daily volume and market capitalization has raised skepticism.
A comparison was made by a crypto community validator, “Vet,” between RLUSD’s reported numbers and those of Tether (USDT). Vet pointed out that USDT’s immense market cap ($158 billion) enables it to process enormous transaction volumes. The reference highlighted the difficulty of achieving such high volumes with limited liquidity.
The disparity between Ripple’s stated volume and its market capitalization has led to skepticism within the community, prompting continued monitoring of RLUSD’s activity and evaluation of future developments.
Source: coincentral.com
