XRP Ledger Stablecoin Supply Surges 14.57% to $1.3 Billion

XRP Ledger's stablecoin supply has experienced a significant increase, rising 14.57% in a week to more than $1.3 billion, according to a recent report. This growth has brought the network's stablecoin market closer to Plasma in the ranking, with XRP Ledger approaching the No. 11 position.

The increase in stablecoin market capitalization is notable, given that the network's stablecoin supply had already surpassed $1.3 billion before the latest growth. Stablecoin market capitalization tracks the value of stablecoins circulating within a blockchain ecosystem, and changes in this metric can reflect movements in the supply of stablecoins on a network.

The ranking referenced by the report is based on stablecoin supply rather than the overall value of native blockchain tokens or other measures of network activity. According to the report, overtaking Plasma would put XRP Ledger at No. 11 in the cited ranking, while the next threshold is Avalanche, represented by its AVAX ecosystem.