In a notable development in the cryptocurrency sector, the decentralized trading platform Bullish has officially included Ripple’s RLUSD stablecoin in its offerings. Although the platform has a global reach, only users from specific regions are currently eligible to trade this new stablecoin.
What Are the Key Features of RLUSD?
Bullish has a limited selection of assets, and RLUSD marks the fourth addition this month, joining MOCA, Ethereum Classic (ETC), and EDU. This stablecoin, formatted as ERC-20, comes with seven available trading pairs, including RLUSD/USDC and BTC/RLUSD, among others.
How Is RLUSD Performing in the Market?
Despite initial market volatility, RLUSD has managed to maintain its peg to the US Dollar, currently trading at $1 with a slight increase of 0.22%. Its market capitalization has surged from $1.3 million to $4 million, while its fully diluted value stands at $19.2 million.
- RLUSD is now held by approximately 6,900 users.
- Adoption rates are expected to rise with new exchange listings.
- Ripple’s stablecoin has received positive feedback from industry figures.
Ripple Labs initially introduced RLUSD on various platforms, including Bitso and Uphold, and it has now expanded to Singapore’s Independent Reserve exchange. The listing on Bullish is a crucial move for Ripple as it aims to enhance its market presence. Regulatory compliance adds a layer of trust for users, and ongoing expansion strategies may lead to RLUSD being listed on additional exchanges. Observers continue to keep a close eye on its long-term stability and market adoption.
