Connect with us
DAPA Banner

Crypto World

Ripple RLUSD Market Cap Nears $1.6B After New XRP Ledger Mint

Published

on

Crypto Breaking News

Ripple’s stablecoin RLUSD is moving closer to a major market capitalization milestone as new token issuance continues to expand its supply. Market data shows the stablecoin currently holds a valuation of $1.58 billion.

The figure places RLUSD only slightly below the $1.6 billion mark following a fresh mint of 10 million tokens on the XRP Ledger earlier today. Consequently, the new issuance has pushed the asset closer to another growth milestone in a short period.

Stablecoin Ranks Among Largest Digital Assets

The rising valuation has strengthened RLUSD’s position within the broader cryptocurrency market. According to current market rankings, the asset now stands as the 52nd largest cryptocurrency by market capitalization.

Additionally, RLUSD has climbed to become the 12th largest stablecoin in circulation. The rapid growth reflects increased activity within Ripple’s stablecoin strategy as the company continues expanding liquidity across its network.

Advertisement

Dominant Stablecoins Continue to Lead Market

Despite RLUSD’s recent growth, the stablecoin market remains heavily concentrated around two major players. Tether’s USDT leads the sector with a market capitalization exceeding $183 billion.

Circle’s USDC follows with roughly $77 billion in circulation. Together, they control a large share of global stablecoin liquidity and maintain a significant lead over newer entrants attempting to build market share.

Corporate Stablecoins Compete for Market Share

Beyond the two largest issuers, several projects compete in a fragmented mid-tier market. PayPal’s PYUSD currently leads regulated corporate stablecoins with a market capitalization of about $4.19 billion.

Newer projects, including Falcon USD and Global Dollar, also sit slightly ahead of RLUSD with valuations around $1.73 billion and $1.72 billion, respectively. Moreover, these tokens highlight increasing competition among corporate-backed digital dollars.

Advertisement

The expansion of RLUSD has allowed the token to move ahead of several established stablecoins. The asset now ranks above Binance’s BFUSD, which holds about $1.31 billion in market value.

Additionally, RLUSD has surpassed Tron’s USDD, which currently stands near $712 million. Consequently, the stablecoin has strengthened its position among mid-tier dollar-pegged assets in the global crypto market.

February Minting Strategy Accelerates Growth

Ripple increased supply aggressively throughout February as the company pushed additional liquidity into circulation. Over roughly three weeks, the RLUSD treasury minted nearly 75 million tokens.

The activity included a 30 million token issuance on February 9, followed by another 20 million minted on February 19. Moreover, Ripple later recorded its largest single-day mint with 69 million RLUSD issued to support expanding distribution channels.

Advertisement

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Bitcoin Traders Bet On Sub-$66K BTC In April Due To Rising Fear

Published

on

Bitcoin Traders Bet On Sub-$66K BTC In April Due To Rising Fear

Key takeaways:

  • Bearish sentiment is rising as Bitcoin options professional traders lose confidence that the $66,000 level will hold for long.

  • The exit of David Sacks as the Crypto and AI czar and a lack of a clear US Strategic Bitcoin Reserve plan added to investors’ doubts.

Bitcoin (BTC) fell to $65,530 on Friday, an 8% decline from the $71,300 level seen on Thursday. This move wiped out over $210 million in leveraged bullish Bitcoin futures and left most call (buy) options worthless during the $18.6 billion monthly expiry. Traders now anticipate a 53% chance that Bitcoin will stay below $66,000 by April 24.

April 24 Bitcoin option prices at Deribit. Source: Deribit

On Friday, the April 24 Bitcoin $66,000 put (sell) options traded at 0.0566 BTC or roughly $3,730. With a 53% implied probability of Bitcoin trading below $66,000 by late April, the mood remains decidedly bearish following the increased uncertainty in the US and Israel-Iran war, pushing traders into a risk-averse mode.

US inflation threats and stalling crypto, Bitcoin legislation

Rising oil prices and a potential $200 billion in extra US military spending led investors to demand higher returns on government bonds and dragged the S&P 500 to its lowest levels since September 2025. West Texas Intermediate (WTI) oil surged to $100 on Friday, while 5-year Treasury yields reached 4.07%, up from 3.72% three weeks prior.

US 5-year Treasury yield (left) vs. S&P 500 (right). Source: TradingView

Inflationary fear and weaker corporate earnings perspectives alone cannot explain Bitcoin’s 20% underperformance against the S&P 500 in 2026. Other factors are likely at play, including investors’ discomfort over the lack of progress on the US Bitcoin Strategic Reserve.

David Sacks has stepped down from his role as the Trump administration’s crypto and AI czar. While Sacks remains an advisor on the President’s Council on Science & Technology, his departure follows earlier comments that inflated Bitcoin investors’ expectations. Sacks had previously hinted that the US could acquire more Bitcoin through budget-neutral methods without raising taxes.

Advertisement

Related: US lawmakers publish crypto tax proposal without Bitcoin tax exemption

Bitcoin 30-day options delta skew (put-call) at Deribit. Source: Laevitas

The Bitcoin options delta skew jumped to 15% on Friday, showing that put options are trading at a significant premium relative to call instruments. In balanced market conditions, this metric usually ranges between -6% and +6%. The current level indicates a lack of conviction among whales that the $66,000 level will hold. Fear has largely dominated the Bitcoin options market since mid-January.

Bitcoin options expiry favored neutral-to-bearish strategies

Friday’s monthly options expiry at $68,610 proved unfavorable for neutral-to-bullish strategies, as 97% of call options became void. Bears gained the upper hand as put options at $69,000 or higher surpassed $2 billion in open interest. Critically, part of Friday’s downward move reflects a growing unwillingness among traders to maintain Bitcoin exposure over the weekend.

Crypto markets cut risk on Friday due to uncertainty. Source: X/WhalePanda

X social platform user WhalePanda, suggested that the crash in risk markets anticipates President Trump making “another dumb escalating move” after US markets close. Consequently, the current fear seen in the options market could reverse if no major geopolitical events occur before Monday.

During bearish cycles, traders often rush for the exits at the mere sight of any event that could be deemed negative. Investors should not take Bitcoin’s implied odds at face value, as these metrics are heavily impacted by recent news and headlines. However, expectations could shift more favorably if Iran effectively releases a counter-offer to the US peace proposal.