Ripple's Stablecoin RLUSD Surpasses $2.5 Billion Valuation Mark

Ripple's stablecoin, RLUSD, has reached a significant milestone, surpassing $2.5 billion in valuation.

This growth comes despite the overall crypto market struggling this year, with Ripple minting $790 million worth of the stablecoin over the past 30 days on both the Ethereum network and the XRP Ledger.

The majority of this supply activity started last week, with minting picking up on September 17th. Since then, Ripple has deployed $419 million worth of RLUSD on these networks, accounting for over 53% of the total minted in the past month.

Ripple has also burned a substantial amount of RLUSD in the same period, netting $152 million. The Ethereum network still maintains its lead over the XRP Ledger as the platform with the larger RLUSD supply, boasting a value of $1.396 billion, which is $272 million more than the XRPL.