Bitcoin hit an all-time high of $111,880, and the stablecoin market saw a significant jump in activity — with Ripple USD (RLUSD) being a standout. In the last 24 hours, RLUSD saw its trading volume more than double, jumping by 103.47% to reach $150.49 million, according to CoinMarketCap.
Even though it is ranked 15th among USD-pegged stablecoins by market cap, the token's volume puts it far ahead of many more well-known names in the field.
Holding its peg, Ripple USD's market cap sits at $310.45 million, with no major price movement. The market cap dropped a bit, but trading activity went through the roof. RLUSD's 24-hour volume is now almost half of its total valuation, with a volume-to-market cap ratio of 48.27%, reflecting strong interest for its size.
There are a lot of stablecoins on the market, but not many of them moved the same amount during the same period. Out of over a dozen USD-pegged stablecoins with big market caps, RLUSD was ranked 15th by size, but only Tether and USDC had higher volumes. There are currently 310.54 million tokens in circulation, and around 2,700 people have wallets for them. There is no set maximum supply either.
The spike in volume happened right when Bitcoin's price surge brought increased attention and liquidity to crypto markets in general. As traders reposition and manage exposure after Bitcoin's new high, the demand for stablecoin pairs — including RLUSD — seems to be part of that shift.
Whether this trend keeps going depends on the overall market, but the sudden jump suggests Ripple USD is becoming important as crypto activity increases again.
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