Ripple Issues 50 Million RLUSD, Approaching XRPL Scale

Ripple's USD stablecoin RLUSD is accelerating its expansion to Ethereum, having recently minted 50 million RLUSD on the Ethereum network, bringing the total circulation to approximately $1.629 billion. The distribution of RLUSD on XRPL and Ethereum is nearly equal, with about $817.5 million on XRPL, accounting for 50.18%, and approximately $811.7 million on Ethereum, making up 49.82%, with a gap of only about $5.7 million. Over the past 30 days, the amount of RLUSD destroyed on XRPL exceeded the newly issued amount by about $42.3 million, indicating a net outflow, while the balance of RLUSD on Ethereum increased by approximately $173.4 million during the same period, showing that liquidity is shifting towards Ethereum. This change is related to Ethereum's infrastructure advantages in the stablecoin and DeFi sectors, where the ERC-20 system is more mature and stablecoin liquidity is more concentrated. As more RLUSD enters Ethereum, market attention is also turning to whether Ripple is reallocating on-chain liquidity based on demand, with Ripple's stablecoin strategy becoming increasingly oriented towards cross-chain use and external markets, rather than being limited to the internal ecosystem of XRPL.

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