$RLUSD Surpasses $2 Billion Market Cap Amid Explosive Supply Growth

Ripple's stablecoin, $RLUSD, has seen an explosive growth in supply over the past few days. The San Francisco-based blockchain firm has been ramping up the issuance of its dollar-pegged asset across both the XRP Ledger and Ethereum networks.

According to data from the Ripple Stablecoin Tracker account on X, 11 million $RLUSD was minted at the $RLUSD Treasury over the past two hours on August 31. This follows a series of large $RLUSD treasury operations over the past several days, highlighting the pace at which Ripple has been adjusting the stablecoin's supply.

The latest activity brings the total circulating supply of $RLUSD to around $2.35 billion, with approximately $1.31 billion on Ethereum and $1.04 billion on the XRP Ledger. This marks a significant milestone for the stablecoin, surpassing the $2 billion market-cap threshold.