XRP Ledger Stablecoin Supply Rises 14.57% to More Than $1.3 Billion
BSCN reported the increase in an X post, describing the weekly expansion as notable given the size of XRPL’s existing stablecoin market. The growth has also moved XRP Ledger closer to Plasma in the ranking cited by the post.
XRPL Stablecoin Market Grows More Than 14%
According to the data referenced by BSCN, XRP Ledger’s stablecoin market capitalization increased by 14.57% over the week.
The network’s stablecoin supply had already exceeded $1.3 billion before the latest increase. As a result, the reported weekly growth represents an expansion from an already substantial base rather than an increase from a relatively small starting point.
Stablecoin market capitalization tracks the value of stablecoins circulating within a blockchain ecosystem. Changes in the metric can reflect movements in the supply of stablecoins on a network, although the figure alone does not establish why the supply changed or how the assets are being used.
BSCN did not identify a specific transaction, issuer or event responsible for the weekly increase in its post.
XRP Ledger Nears Plasma in Ranking
The rise has also brought XRP Ledger close to Plasma in the ranking referenced by BSCN. The post said XRPL is approaching the No. 11 position and could move ahead of Plasma based on further changes in the respective stablecoin market capitalizations.
The ranking is based on stablecoin supply rather than the overall value of native blockchain tokens or other measures of network activity. That distinction is important because stablecoin market capitalization represents one specific segment of activity within a blockchain ecosystem.
BSCN described the latest growth as particularly notable because XRPL's stablecoin supply had already surpassed $1.3 billion.
Avalanche Next in the Top-10 Path
According to BSCN, overtaking Plasma would put XRP Ledger at No. 11 in the cited ranking. The next threshold identified in the post is Avalanche, represented by its AVAX ecosystem, which XRPL would need to surpass to enter the top 10.
The post did not provide the stablecoin market capitalization gap between XRP Ledger and either Plasma or Avalanche, nor did it specify a timeframe for any potential changes in the ranking.
For now, the measurable development is the 14.57% weekly increase in XRPL’s stablecoin market capitalization, with the network's stablecoin supply standing above $1.3 billion.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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