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Highlights:
- RLUSD’s supply has risen to over 100 million tokens across two blockchains.
- Ethereum hosts the majority of RLUSD’s circulation, with XRP Ledger holding a smaller share.
- The token’s distribution remains highly concentrated among a few holders.
RLUSD, a cryptocurrency stablecoin launched by Ripple Labs in late 2024, continues to gain traction within the broader stablecoin market, which boasts a total valuation of over $200 billion. Despite its modest share, RLUSD’s supply is experiencing notable growth.
RLUSD Supply Expands Significantly
As of February 12, 2025, the RLUSD stablecoin has seen its total supply reach more than 100 million tokens, with a 51% increase in circulation since late December 2024. The coin was initially launched with the goal of simplifying cross-border transactions by pegging its value to the U.S. dollar.
A significant portion of RLUSD’s supply, approximately 83 million tokens, resides on the Ethereum blockchain, while the XRP Ledger hosts a smaller share of around 25 million tokens. This distribution across two blockchains reflects an expanding reach, albeit one still in the early stages.
Activity on Ethereum and XRP Ledger
Ethereum remains the dominant blockchain for RLUSD, with over 1,400 addresses currently holding the token. However, its transfer volume is relatively low, with just over 5,000 transactions recorded on this chain. The concentration of ownership is noteworthy, as the top 100 wallets hold nearly all of the RLUSD tokens circulating on Ethereum.
On the XRP Ledger, the distribution of RLUSD is even more limited, with a significantly smaller amount of tokens minted on this blockchain. Despite the lower volume on XRP Ledger, its blockchain-specific data is available through the Ripple Stablecoin Tracker X, offering real-time transparency into its activity.
Distribution and Ownership Patterns
The high concentration of RLUSD tokens within a few wallets on Ethereum points to an early stage of market development. While the token’s overall growth is encouraging, the distribution pattern reflects the dominance of a few large holders, which may affect its widespread adoption in the future. The activity on both blockchains indicates that while RLUSD is gaining in circulation, it is still in the early stages of its broader market integration.
With steady growth in supply and continued activity on multiple blockchains, RLUSD is positioning itself as a notable player within the digital asset ecosystem, even though its distribution and usage remain concentrated.
