JAKARTA - Since its release on December 17, 2024, the Ripple USD (RLUSD) stablecoin has started to produce positive results. The USDT and USDC competitors have experienced an increase in transactions in the last 24 hours.
Based on data from the Ripple Stablecoin Tracker, more than 15 million RLUSD (equivalent to Rp255 billion) were transferred in various transactions. This shows the high interest of investors in stablecoin RLUSD amid the recovery of the crypto market ahead of Donald Trump's inauguration.
There were two major transactions on January 14 yesterday, each of which amounted to 1.8 million RLUSD which was transferred to a private crypto wallet. Further data shows that RLUSD was also transferred from RLUSD cash to an unidentified crypto wallet, as well as several other transactions involving large amounts of RLUSD.
SEE ALSO:
The increase in the volume of RLUSD transactions has skyrocketed by 123% according to data from CoinMarketCap. The surge in trading volume shows higher trading activity than the previous day. The increase in RLUSD trading volume occurred when the crypto market collapsed on January 13, 2025.
At a time when the crypto market was down a few days ago, there was a massive liquidation that removed nearly $700 million in trading. This condition prompted many traders to switch to stablecoins as a step to protect their assets from further losses.
In the last 24 hours, RLUSD recorded a trading volume of 175 million US dollars (Rp 2.8 trillion), surpassing the DAI, one of the main stablecoins in the market, which recorded only a volume of 133 million US dollars (Rp 2.1 trillion) in the same period. The success of this RLUSD was also driven by the registration of this new stablecoin on global exchanges such as Bitstamp on December 17, 2024.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)