Ethereum Overtakes XRP Ledger in RLUSD Holdings as Stablecoin Approaches $2 Billion

Ripple's dollar-backed stablecoin RLUSD has reached a combined circulation near $2 billion. The Ethereum network now holds a larger share of RLUSD, surpassing the XRP Ledger in holdings. Data from the Ripple Stablecoin Tracker shows that Ethereum currently holds $989.34 million in RLUSD, while the XRP Ledger holds approximately $941.36 million.

The shift in distribution follows increased minting activity on the Ethereum network. On August 20, Ethereum recorded $73.8 million in RLUSD mints, with another $53.2 million added the following day. In contrast, the XRP Ledger registered $36.1 million in mints on August 20 and $12.5 million on August 21.

Two large transactions contributed to the change, minting 25 million and 20 million RLUSD respectively on Ethereum. The combined circulation of RLUSD now stands near $1.939 billion, with Ripple's stablecoin approaching its $2 billion supply threshold.