RLUSD Dominance Grows as XRP Ledger Sees Surge in Stablecoin Activity

The XRP Ledger has seen a significant increase in stablecoin activity over the past month, with $4.28 billion worth of RLUSD stablecoins being transferred on the network.

This represents a 10.8% rise in transfer volume compared to the same period last year and suggests that more people and businesses are using the network for transactions.

The growth in transfer volume is likely due to Ripple's strategy of reducing RLUSD supply on Ethereum and increasing it on the XRP Ledger, which has allowed the network to overtake Ethereum in RLUSD supply.

As a result, the XRP Ledger now holds 55% of RLUSD's total supply, with the stablecoin having a market capitalization of $872 million on the network.