RLUSD Circulation Hits Record High, Shifts Towards Ethereum
- RLUSD circulation reached $2.42 billion on September 14, up from $1.72 billion a month earlier.
- Ethereum now holds $1.37 billion of RLUSD, surpassing the XRP Ledger’s $1.05 billion.
- The XRP Ledger previously held a majority share with $907.2 million in July.
- U.S. spot XRP ETFs have accumulated inflows totaling $1.68 billion since November.
- RLUSD has expanded to multiple chains including Optimism and Unichain through Wormhole.
RLUSD’s supply saw a significant increase, largely attributed to its expansion across various platforms and increased activity on major Korean exchanges in late July. The shift in holdings from the XRP Ledger to Ethereum marks a notable change in distribution dynamics.
The RLUSD circulation surge highlights its growing traction beyond its initial platforms, with Ethereum now holding the majority of the supply compared to the XRP Ledger’s previous dominance.( Source )
