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Ripple USD (RLUSD) Trading Volume Soars 2,000% Amid Questions

Debashree Patra6 Jan 20251 min read

Ripple USD (RLUSD), Ripple’s stablecoin, has surged 2,000% in trading volume, reaching $611 million despite a modest $53 million market cap. This rapid growth makes RLUSD the fourth most-traded stablecoin. However, over 96% of the volume originates from Bullish, a platform backed by Peter Thiel, raising concerns about low liquidity and potential manipulation. Validators on the XRP Ledger suggest Ripple products, not retail traders, may drive the volume. Ripple recently minted 600,000 tokens and plans to release an attestation report detailing RLUSD’s asset backing later this month.

#Ripple (XRP)

Debashree Patra

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Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundary…connect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

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