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.
đŹ 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.
đŹ Do you think stablecoin growth moves the XRP price at all?
#XRPL #Stablecoins