Ripple's US dollar stablecoin RLUSD accounts for less than 0.04% of the market value of stablecoins

Ripple's USD stablecoin Ripple USD (RLUSD) has failed to gain widespread attention since its launch in mid-December last year. CoinGecko data shows that RLUSD's market value is still less than $75 million ($72,146,715), accounting for less than 0.04% of the overall stablecoin market value. In contrast, the market value of the leading stablecoin USDT exceeds $137 billion. Currently, only a few exchanges have launched RLUSD trading, and a large part of its trading volume comes from exchanges previously invested by Ripple, such as Bitstamp and Bitso, while Bullish provides the vast majority of RLUSD liquidity. Analysis points out that the failure to be listed on multiple major cryptocurrency exchanges may make it difficult for the stablecoin to attract user interest, and the thin liquidity of its trading pairs has also caused its price to fluctuate slightly. Since December 17, when CoinGecko began tracking its price history, RLUSD has been as low as $0.97 and as high as $1.07. Earlier news, Jack McDonald, senior vice president of Ripple stablecoin, revealed that the company is planning to list its dollar-pegged stablecoin RLUSD on more exchanges, including Coinbase in the United States. McDonald said that promoting RLUSD to be listed on exchanges involves complex technical processes, including supporting different blockchains and their assets. In addition, he mentioned that some exchanges have economic partnerships with specific stablecoins, such as Coinbase and USDC, Binance and FDUSD, but he believes that Coinbase may gradually expand the range of stablecoins it supports. Currently, Coinbase already supports multiple stablecoins such as USDC, PAX, GUSD, PYUSD and USDT.