Data shows that Ripple’s stablecoin RLUSD has crossed the 300 million threshold in total issuance. By the close of April, RLUSD’s circulating supply expanded from 294 million to its present total of 312 million coins.
RLUSD Supply Jumps Past 300M Coins
Ripple’s dollar-linked stablecoin RLUSD has expanded its supply by 61.66% since March 31. Following April 25, the token crossed the 300 million mark and currently totals 312 million RLUSD in circulation. Of this amount, more than 78%—or 246.14 million tokens—have been minted on the Ethereum network.
In contrast, a much smaller portion, just over 21% or 66.91 million RLUSD, exists on Ripple’s distributed ledger technology (DLT) protocol. Despite exceeding 300 million in total issuance, the token’s distribution remains heavily concentrated. On Ethereum, for example, 99.91% of the RLUSD supply is held by the top 100 wallets out of 2,646 total holders.
Aave holds the top Ethereum-based RLUSD wallet, controlling 29.68% of the supply with 73 million tokens. Ripple occupies the second spot with 12.71%, amounting to 31.29 million RLUSD. The third-largest wallet belongs to an unidentified whale managing 25.29 million tokens, representing 10.27% of the total. Another anonymous holder commands the fourth-largest wallet with 24.79 million RLUSD and also possesses 32.69 million units of Circle’s USDC.
The fifth-largest stash is housed in a Curve Finance wallet, which accounts for 9.66% of the Ethereum-based RLUSD, or 23.79 million coins. In sixth place, an undisclosed whale maintains a balance of 21.74 million tokens, equal to 8.83% of the supply. The seventh-largest address holds 8.6 million RLUSD—3.49% of the total—and is tagged by Arkham as belonging to the liquidity provider B2C2, though this attribution has not been definitively confirmed.
Crypto exchange Bullish ranks eighth, with slightly over 4 million RLUSD, or 1.65% of the supply. The ninth-largest wallet contains 3.75 million tokens and is tentatively associated with Revolut, according to Arkham’s block explorer. Rounding out the top ten, another unnamed whale holds 3.38 million RLUSD, representing 1.37% of the total supply.
This means a whopping 89.27% of the current RLUSD supply issued on ETH—equivalent to 219.63 million tokens—is concentrated in the hands of just ten entities. Collectively, these ten wallets account for roughly 70.46% of all RLUSD in circulation.
