Ripple-backed stablecoin RLUSD climbed to a record supply of $2.442 billion this week, according to Bitcoin.com News, rising about 41% from $1.72 billion a month earlier. The latest expansion was concentrated on Ethereum rather than the XRP Ledger, shifting the token’s on-chain balance in a notable way.
Ethereum now holds $1.37 billion worth of RLUSD, ahead of the XRP Ledger at $1.05 billion. That marks a reversal from July, when the XRP Ledger accounted for 58.9% of total RLUSD supply. The report said that of the roughly $840 million added since July, Ethereum absorbed most of the increase.
The latest figures point to a sharp change in where RLUSD issuance is landing, with Ethereum now the larger network by outstanding supply.
Ripple-backed stablecoin RLUSD reached a record supply of $2.442 billion this week, according to Bitcoin.com News, up about 41% from $1.72 billion a month earlier.
Most of the new supply went to Ethereum rather than the XRP Ledger. Ethereum now holds $1.37 billion in RLUSD, while the XRP Ledger holds $1.05 billion.
That is a full reversal from July, when the XRP Ledger accounted for 58.9% of RLUSD supply. Of the roughly $840 million added since July, Ethereum absorbed most of the increase.
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