RLUSD Surpasses $2 Billion as Ethereum Takes the Lead

Ripple's RLUSD stablecoin has reached an all-time high of $2.442 billion in supply, according to data aggregators.

The token, which is designed to maintain a peg to the US dollar, saw a 41% increase in circulation over the past month, from $1.72 billion on August 14 to $2.42 billion on September 14.

A closer look at the data reveals that while RLUSD is still largely held on the XRP Ledger, with $1.05 billion in circulation, Ethereum has taken the lead, holding $1.37 billion of the stablecoin.

This shift represents a reversal from July's split, when the XRP Ledger held 58.9% of RLUSD supply and Ethereum held 41.1%. The data does not indicate who is minting the new tokens or where they are being stored.