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$RLUSD has continued to draw attention across the crypto ecosystem after its issuer, Ripple, confirmed that the stablecoin has surpassed a major milestone.
Per data provided by CoinMarketCap, $RLUSD has crossed $2 billion in market capitalization, sitting at $2,091,648,295.05 as of August 26, following a modest increase of 0.66% over the last 24 hours.
$RLUSD supply on $XRP Ledger nears 1 billion
While the stablecoin was only launched in December 2024, $RLUSD has continued to gain traction, hitting major milestones within just months of its emergence.
Following this milestone, Ripple further revealed that nearly 1 billion of the total $RLUSD supply has been issued on the $XRP Ledger. This suggests that its strong network growth has also contributed to the rising activity around the stablecoin.
In a recent post discussing $RLUSD's rapid growth, Ripple mentioned that the stablecoin was designed with real-world utility and enterprise use cases in mind, drawing interest from both retail and institutional users.
Nonetheless, the steady expansion in the $RLUSD market capitalization is attributable to Ripple's relentless efforts to boost the stablecoin's presence across payments, liquidity, and institutional applications.
$RLUSD and $XRP gaining market buzz
While the massive $RLUSD milestone was reached last week, it has arrived at a time when the broader Ripple ecosystem began to see rising momentum, especially after $XRP saw a major price breakout.
When $RLUSD reached this major milestone, $XRP also saw its price record an explosive surge of nearly 50% by the end of the same week.