Ripple Mints a Staggering 50 Million RLUSD Tokens in Just One Day

Highlights:

• On March 31, Ripple minted 50 million RLUSD stablecoins in a single day.
• The minting boosted RLUSD’s market cap from $190 million to over $240 million.
• With the latest minting exercise, Ripple minted over 100 million RLUSD in March.

On March 31, the Ripple Stablecoin Tracker reported that the cross-border payment firm Ripple minted 50 million RLUSD on Ethereum. The announcement on X sparked widespread reactions within the crypto community, marking the company’s largest single-batch mint.

Before the most recent minting exercise, Ripple had minted about 61.3 million tokens, bringing its March total to 111.3 million with the additional 50 million coins. Beyond minting, the cross-border payment firm issued 28 million RLUSD in March, according to sources familiar with its tokenomics.

50,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/hf8GfYG3cy

— Ripple Stablecoin Tracker (@RL_Tracker) March 31, 2025

Market Cap Jumps with 50 Million RLUSD Addition

Launched around late December 2024, RLUSD has recorded a gradual expansion in market capitalization. The stablecoin’s enthusiasts and other market observers speculated that the token could become a leading stablecoin. However, the coin still has a long way to reaches such heights.

As a result of the newly minted tokens, RLUSD market capitalization increased from about $190 million to its present $243.7 million valuation. On CoinGecko, the stablecoin ranks as the 230th most valuable crypto. Meanwhile, in the stablecoins ranking, RLUSD occupies the 22nd spot. Its 24-hour trading volume spiked 19.38% to about $84.41 million.

RLUSD’s main competitors, including Tether (USDT), Circle’s USDC, and Sky Protocol’s USDS, boast market caps of about $143.98 billion, $60.09 billion, and $8.01 billion. These market valuations reflect the stablecoins’ longevity and acceptance. To attain similar heights, RLUSD must attract traders’ interest with unique features that differentiate it from its competitors.

RLUSD is Growing at a Fast Pace

In a March 28 tweet, Jack McDonald, SVP of Stablecoin at Ripple, shared RLUSD’s February attestation. He said RLUSD’s market capitalization exceeded $170 million, surpassing internal expectations. The SVP also mentioned that Ripple plans to push RLUSD into the top five stablecoins by the end of this year. To hit the top five, RLUSD market capitalization must exceed DAI’s $3.2 billion.

In addition, McDonald revealed that RLUSD has scored listings on crypto exchanges, including LMAX. He added that the token will debut on more trading platforms to boost RLUSD reach. Beyond listings, RLUSD has gained traction on Decentralized Finance (DeFi) liquidity pools. Non-governmental organizations (NGOs) have also adopted the stablecoin to aid charity donations.

The Feb monthly independent attestation for $RLUSD is live
— Market cap (~$170M) is outpacing our internal projections – we expect to be a top 5 stablecoin by EOY
— RLUSD is available on new exchanges including @LMAX with more to come…
— New use cases are continuing to…

— Jack McDonald (@_JackMcDonald_) March 28, 2025

IntoTheBlock, a renowned on-chain analytical firm, echoed similar claims about Ripple’s RLUSD in a separate tweet. The on-chain platform stated that RLUSD’s expanding circulating supply and the growing number of Ethereum (ETH) mainnet addresses holding the stablecoin will position the token as a leading player in the stablecoin space.

Ripple’s new RLUSD stablecoin is gaining traction.

With a circulating supply reaching $160 million and a growing number of Ethereum mainnet addresses holding it, $RLUSD appears positioned to become a notable player in the stablecoin space. pic.twitter.com/o5ZXpeAcvN

— IntoTheBlock (@intotheblock) March 21, 2025

RLUSD Leads Other Stablecoins in Volume-to-TVL Ratio

Despite ranking significantly lower than most other stablecoins in market valuation, Vet, an XRPL dUNL validator, revealed that RLUSD exceeded its peers in volume-to-TVL ratio. In a March 31 tweet, Vet stated, “RLUSD is the most capital-efficient stablecoin in the whole crypto. It has the highest volume-to-TVL ratio with 37%, leaving other top stablecoins far behind.”

According to Vet’s X post, USDT followed RLUSD in volume-to-TVL ratio with 34%. Other stablecoins that made Vet’s list include Circle’s USDC with 14.26%, PayPal USD with 6.5%, DAI with 2.27%, and Ethena USD with 2.1%.

$RLUSD is the most capital efficient stablecoin in whole crypto currently.

It has the highest volume to TVL ratio with 37%.

Leaving other top stable coins far behind:

Paypal USD – 6.5%
Circle USDC – 14.26%
DAI – 2.27%
Ethena USD – 2.1 %

Tether USDT closely behind with 34%. pic.twitter.com/WzoypucCcs

— Vet (@Vet_X0) March 31, 2025