Introduction to New Trading Pairs
In a notable development within the cryptocurrency market, Bitget, a prominent trading platform based in Hong Kong, has expanded its offering with the addition of new trading pairs involving the recently launched Ripple USD (RLUSD) stablecoin. This follows the integration of RLUSD, which occurred approximately one week ago. The debut of this dollar-pegged stablecoin was on May 29, when Bitget first initiated trading pairs RLUSD/USDT and RLUSD/USDC, allowing users to trade Ripple’s stablecoin against Tether’s and Circle’s counterparts.
Expansion of Trading Options
Now, Bitget is enhancing its services further by introducing additional trading options: BTC/RLUSD, ETH/RLUSD, and XRP/RLUSD are now accessible to traders, expanding the market’s scope. Users are encouraged to explore these new pairs, as highlighted in a recent update from the platform on social media.
Market Overview
According to the latest data from CoinMarketCap, RLUSD, which first appeared in December 2024, holds a market capitalization of $369.68 million, ranking it 205th among cryptocurrencies. The stablecoin’s total available supply is reported to be approximately 369.74 million RLUSD. This level of supply appears to meet market demand adequately, especially since Ripple Labs has not conducted any RLUSD transactions since May 14, when they burned nearly 4 million units.
Notably, the last issuance of new RLUSD took place on April 25, when the company minted 38 million tokens and burned 15 million, illustrating Ripple’s ongoing management of the stablecoin’s supply.
