- Ripple minted 12 million RLUSD tokens as Ethereum logs the transaction through the RLUSD Treasury.
- The total stablecoin supply surpassed $252 billion, rising twentyfold in the past five years, driven by user demand and DeFi utility.
- DeFi platforms like PancakeSwap and Hyperliquid generated millions from fees, reflecting a stablecoin sector shifting toward profitability.
Ripple has minted 12 million RLUSD tokens at its RLUSD Treasury, with the transaction registered on Ethereum’s blockchain. The update was confirmed by Ripple Stablecoin Tracker, which monitors RLUSD issuance. This minting places Ripple in a growing field of stablecoin issuers responding to increased market demand.
According to data from DeFiLlama, the total circulating supply of stablecoins has now reached $252 billion. This marks a 20-fold increase over the past five years. The latest weekly data also reflects a net addition of over $740 million, signaling continued capital inflows.
Tether Maintains Lead as Most Used and Most Profitable Stablecoin
Tether’s USDT maintains dominance with a 62.5% market share. Over the past 30 days, Tether earned more than $593 million in revenue from U.S. Treasury interest tied to its reserves. Circle, issuer of USDC, follows with $191 million in earnings.
With the recent minting of RLUSD, Ripple joins an ecosystem where stablecoins not only offer utility but also deliver significant earnings. If Ripple adopts a reserve strategy similar to those of USDT and USDC, RLUSD could emerge as a substantial revenue contributor for the company.
DeFi Protocols See Millions in Revenue as Sector Matures
Decentralized protocols have shown notable earnings. Hyperliquid generated over $64 million in swap fees, while PancakeSwap earned nearly $57 million. Smaller platforms, including Axiom, Pump, and Phantom, each crossed $10 million in earnings in the same 30-day window.
Lending and infrastructure-focused platforms such as AAVE and Sky are increasingly capturing value through interest and fee collection. This shift points to a maturing DeFi landscape where income generation stems from consistent user activity.
The recent passage of the Genesis Act has contributed to renewed confidence across the stablecoin market. Regulatory clarity continues to attract capital and participation, encouraging further development and investment in the sector.
