RLUSD Approaches PYUSD as Stablecoin Market Shifts
- RLUSD reached a record $2.941 billion on September 28, marking an increase of over 86% since the start of the year.
- PayPal’s PYUSD decreased by about $1.5 billion from its March peak, now sitting at $2.74 billion, a decline of approximately 35%.
- The XRP Ledger added $63 million in RLUSD this week, increasing its share to around 44%, while Ethereum’s balance grew by $49 million.
- Token Terminal data shows PYUSD leading with a new supply of $82.7 million, closely followed by RLUSD at $82.1 million.
- The stablecoin market is dominated by Tether and USDC with a combined value of approximately $75.3 billion within a total market cap of $306 billion.
RLUSD has shown significant growth in the stablecoin sector this year, nearing PayPal’s PYUSD in market size despite overall declines for PYUSD since March.
With RLUSD gaining ground on multiple platforms such as the XRP Ledger and Ethereum, it reflects shifting dynamics in the stablecoin landscape where dollar tokens continue to expand faster than other cryptocurrencies like Bitcoin and XRP.
