Ripple Labs' stablecoin RLUSD continued to gain traction in the cryptocurrency market, with its circulation surpassing the $100 million mark.
This milestone comes after the asset was introduced in late 2024 as a means to facilitate smoother cross-border transactions by linking digital finance with the stability of traditional currency.
RLUSD operates on both Ethereum and the XRP Ledger, aiming to accelerate its adoption within the decentralized finance (defi) sector. As of the latest figures, the stablecoin has achieved a distribution of 108.66 million tokens across these two blockchains. Ethereum hosts the majority of the supply, with 83.33 million RLUSD tokens, while the XRP Ledger accounts for 24.67 million tokens.
The token's circulation has seen a significant 51% increase since late December 2024, when 72 million tokens were in circulation. The Ripple Stablecoin Tracker X account provides detailed analytics, offering transparency into the distribution and transfer activities on both chains. Despite Ethereum's dominance in the number of RLUSD tokens issued, the XRP Ledger's role is still notable, albeit smaller in comparison.
On the Ethereum blockchain, RLUSD is held by 1,451 addresses and has been involved in 5,267 transfers. Notably, the top 100 wallets have a combined ownership of 99.88% of the RLUSD tokens on Ethereum, indicating a high concentration of ownership.
This suggests that while the stablecoin's growth is promising, its distribution is still in the early stages, with a significant portion held by a small number of investors.
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