Ripple believes that newly acquired prime broker Hidden Road will boost your confidence in the small Stablecoin, RLUSD. The $1.2 billion cash, equity and XRP token transactions quadruple the market capitalization of RLUSD.
Unlike the $1 RLUSD, the value of XRP is supposed to be gathered in response to positive developments.
Unfortunately, since CEO Bradgaringhouse’s morning company announcement, XRP has fallen in value today Most expensive acquisitions ever.
XRP price since Brad Garlinghouse’s 8:06am NYC timezone tweet.
Read more: Despite “Stablecoin Gold Rush”, PayPal and Ripple Stablecoins are still 1% sub 1%
According to Garlinghouse, Hidden Road will use Ripple’s RLUSD as collateral, “including cross-asset (crypto and traditional instruments) transactions” and major intermediaries.
It was not clear from the press release why Hidden Road could not simply use another Stablecoin to serve the same purpose.
Despite many other marginable stub coins, “efficient cross-merging”
According to Ripple, RLUSD is “the first Stablecoin to enable efficient cross-merging between the digital asset space and traditional markets,” despite years of Stablecoin-based margins across digital and traditional assets.
Certainly, various stubcoins are very bordered and have denounced leveraged contracts for various traditional assets over the years.
CoinMarketCap found Volumes under $50 million It was traded on RLUSD in the last 24 hours. Coingecko discovered under $7 million.
These estimates compare to over $80 billion from USDT, RLUSD’s biggest competitor at the same time.
Today’s market capitalization of RLUSD is less than 0.04% of the Stablecoin industry.
