Ripple, the well-known San Francisco-based blockchain company associated with $XRP, has recorded substantial growth in its stablecoin market over the past month.
Along with that growth, Ripple has gained ground in the sector, outperforming several major stablecoin issuers.
Ripple leads stablecoin market growth
Known for its growth and development, Ripple has consistently maintained a leading position in the stablecoin sector. However, over the past week, Ethena challenged its position, taking the top spot for a 24-hour period.
However, the latest data from Token Terminal shows that Ripple has led the stablecoin market over the past month.
According to the data, Ripple was the biggest contributor to stablecoin market growth over the past 30 days, with market capitalization rising by $258.2 million.
This indicates that although Ripple-associated crypto token $XRP has continued to face persistent volatility over the period, Ripple has maintained strong momentum in the stablecoin market.
Ripple outperforms Ethena and others
Further data shows that over the past month, Ripple also outpaced several other major stablecoin issuers.
Ripple ranked first in monthly stablecoin market growth, while Open Standard came second, with an increase of $165.1 million over the same period.
Ethena has frequently ranked just behind Ripple, but this time it placed third, recording a market capitalization increase of only $78 million.
