According to Coinmarketcap data, Ripple USD (RLUSD) has lost more than 50% of its trading volume in the last 24 hours, with Stablecoin, developed by the San Francisco Crypto Company Ripple.
The logical question is, what is going on? The answer has an interesting perspective.
As things stand, Ripple Stablecoin’s market capitalization remains at $294 million, but its current trading volume is $35.8 million. This comes after a 56% decrease from the previous day.
Prior to that, it was $11.43 million. This was about a third of Stablecoin’s total market capitalization, and it was a considerable amount. If the market capitalization and volume ratio are around 30%, that’s a lot. Furthermore, this ratio remains at 12.7%, a sign of increased activity due to assets.
From this perspective, a decrease of over 50% in stubcoin is like a decrease from the peak of activity, rather than an overall abandonment of assets.
Interestingly, analyzing historical volume data in RLUSD revealed that Stablecoin is indeed capable of such volume spikes. For example, just three days ago, the daily volume was $49.7 million, and three days ago it was just $13 million.
Ripple USD has been heavily boosted after Kraken, a leading US cryptocurrency exchange, announced its list last week. With BitStamp among the top concentrated platforms offering RLUSD trading, Stablecoin still has a massive list trigger to further increase both market capitalization and volume.
Needless to say, there’s already a lot of $100 million each day.
