Ripple USD (RLUSD) Trading Volume Increases 27% Following Gemini Listing
Ripple USD (RLUSD) has experienced a significant increase in trading volume following its listing on Gemini, leading to a 27% jump to $50.96 million. The stablecoin is now available to a broader audience of traders and institutions.
Key Developments
- Gemini's listing introduces RLUSD to new markets, enhancing exposure.
- Over 317 million RLUSD tokens are currently circulating, maintaining a $1 peg to the US Dollar.
- No new RLUSD has been minted since April 25, indicating stable investor interest.
- Ripple Labs recently unlocked 1 billion XRP from escrow, suggesting strategic supply management.
- A $25 million donation in RLUSD was made to educational nonprofits as part of Teacher Appreciation Week.
- Speculation surrounds Ripple’s potential acquisition of brokerage firm Hidden Road and interest in Circle.
Ripple aims to promote widespread usage of RLUSD while contributing to community initiatives.