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Ripple’s RLUSD stablecoin crosses $3 trillion in trading within a month

Press Releases Crypto News CryptoSlate Ripple’s RLUSD stablecoin crosses $3 trillion in trading within a month

The stablecoin Ripple USD (RLUSD) surpassed $3.02 trillion in total trading activity just over a month after its debut on centralized exchanges, according to a CCData report.

In January alone, RLUSD recorded $2.84 trillion in trading volume as of Jan. 23, establishing itself as the fourth-largest stablecoin by trading volume. Jan. 4 saw the most RLUSD trading activity, reaching $400 million.

The report highlighted that RLUSD had a circulating supply of $97.5 million as of Jan. 23, backed by reserve funds exceeding $104 million. The stablecoin’s trading has been predominantly driven by activity on the Bullish exchange, which accounts for 85.7% of its volume, totaling $2.42 billion.

Bitstamp is the second-most active exchange, processing $398 million in RLUSD trades. Other exchanges, including Independent Reserve, Bitso, and Mercado Bitcoin, have also listed the asset, broadening its market reach.

RLUSD’s official launch was on Dec. 17, 2024, one week after Ripple received approval from the New York State Department of Financial Services (NYDFS).

Stablecoins surge to new heights

The broader stablecoin market experienced a notable expansion in January, with total market capitalization increasing by 5.68% to reach a record $215 billion. This marks the sixteenth consecutive monthly increase in stablecoin market capitalization.

Stablecoin dominance in the broader crypto market also climbed to 6.31%, up from 6.19% in December, reaching its highest since October.

The surge in stablecoin dominance coincided with a period of market consolidation following President Donald Trump’s inauguration.

However, despite the strong start to the year, stablecoin trading volumes on centralized exchanges appear to be on a downward trajectory. As of Jan. 26, these platforms recorded $1.71 trillion in stablecoin trading activity, suggesting that January’s total volume may fall short of December’s $2.66 trillion.

The report attributes the decline

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Author: Gino Matos

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