A $1.34 billion stablecoin base on the XRP Ledger sounds bullish for XRP. The math is more modest.
Per CryptoSlate, tracked stablecoins on XRPL reached about $1.34 billion as of October 7, with Ripple's RLUSD making up about 93% of it. But fees and reserves are what require $XRP : a base fee of 0.00001 XRP, 1 XRP per account and about 0.2 XRP per extra ledger object. Those costs grow with the number of users and objects, not with the dollar value moved.
My view: stablecoin growth helps the ledger's relevance more than it helps direct XRP demand. Liquidity and routing choices matter more.
💬 Do you think stablecoin growth moves the XRP price at all?
#XRPL #Stablecoins
Per CryptoSlate, tracked stablecoins on XRPL reached about $1.34 billion as of October 7, with Ripple's RLUSD making up about 93% of it. But fees and reserves are what require $XRP : a base fee of 0.00001 XRP, 1 XRP per account and about 0.2 XRP per extra ledger object. Those costs grow with the number of users and objects, not with the dollar value moved.
My view: stablecoin growth helps the ledger's relevance more than it helps direct XRP demand. Liquidity and routing choices matter more.
💬 Do you think stablecoin growth moves the XRP price at all?
#XRPL #Stablecoins