Ethereum Surpasses XRP Ledger as Largest Holder of RLUSD Stablecoin
Ripple's RLUSD stablecoin has reached new heights, but it's Ethereum that now holds the top spot in terms of total supply. According to recent data from Ripple's tracker, Ethereum surpassed the XRP Ledger with $989.34 million in RLUSD, while the XRP Ledger trails behind at $941.36 million.
This shift marks a significant milestone for RLUSD, which has reached an all-time high circulating supply of $1.939 billion and is quickly approaching the $2 billion mark. The surge in Ethereum's supply can be attributed to recent minting activity, with $73.8 million minted on August 20 followed by another $53.2 million on August 21.
The competition between blockchains for RLUSD liquidity continues to heat up, with both platforms vying for dominance. While Ripple officials have yet to comment publicly on the supply shift, market observers are closely monitoring these changes as they may signal broader trends in multi-chain adoption for stablecoins.