Ripple USD (RLUSD), Ripple's recently launched stablecoin product for enterprise blockchain, has been launched It has been registered A massive 2,000% increase in trading volume, according to data provided by cryptocurrency ranking site CoinMarketCap.

The token has a total trading volume of $611 million, making it the fourth most traded stablecoin product despite having a market capitalization of only $53 million.

Some social media users questioned the accuracy of the data because it is unlikely that RLUSD could gain that much attention in a short period of time.

In fact, Bullish, the cryptocurrency trading platform backed by PayPal co-founder Peter Thiel, accounts for more than 96% of the total 24-hour trading volume. like Reported by U. TodayThe exchange listed six pairs of this stablecoin last week.

Vet, the validator on the XRP Ledger (XRPL), has male The volume recorded by the RLUSD/USD pair appears excessively high in a bullish market. Moreover, the pair has low liquidity, which means that only a few big players are responsible for these amazing numbers.

However, it has also been suggested that this incredible trading volume may be driven by Ripple products rather than regular users. “It's a fact that it's hard to differentiate between what Ripple products are driving and what regular users are,” he said.

As reported by U.Today, Ripple Shut up Another 600,000 tokens on Friday.

In January this year, the company is also expected to release a certification report that will detail the assets backing the RLUSD stablecoin.