Ethereum Now Holds Larger Portion of RLUSD Supply After Recent Growth

RLUSD supply growth shows a clear preference for Ethereum infrastructure over the past two months. Trackers place the stablecoin’s circulating total at roughly 2.42 billion dollars on September 14, with a weekly peak near 2.442 billion dollars reported by Bitcoin.com News and DeFiLlama.

Supply Path and Chain Split

The increase followed a steady climb from 1.72 billion dollars recorded one month earlier. That represents roughly 41 percent growth in a single month. Of the new supply added since July, the larger share landed on Ethereum, which now accounts for about 1.37 billion dollars. The XRP Ledger holds around 1.05 billion dollars.

This distribution reverses the July picture, when the XRP Ledger held the majority at approximately 907 million dollars, or 58.9 percent. Ethereum stood at 632 million dollars at that time. The recent shift places more than half the total on Ethereum rails.

Capital Structure Lens

The expansion appears self-funded through organic issuance rather than external capital raises. No new investor rounds or debt instruments are tied to the supply increase in the reported data. The chain allocation itself reflects where issuers and users choose to hold and transfer the stablecoin, without additional fundraising attached.

Comparison to VeeFriends

VeeFriends relied on a paid mint that generated upfront capital for the founder. RLUSD supply growth carries no comparable entry fee for holders and shows no presale or allocation to insiders. Price action on the stablecoin remains near parity by design, with no meaningful candles away from one dollar. VeeFriends collection prices moved with broader NFT market swings after the initial mint, reflecting typical secondary-market volatility.

Community energy around RLUSD centers on utility for transfers and settlements, while VeeFriends drew attention through founder-led storytelling and event tie-ins. Founder presence in the RLUSD case stays with Ripple’s existing operations, without new public capital calls. VeeFriends maintained a more visible founder role in both pricing and narrative updates.

Market Context

Spot prices on the same date showed Bitcoin near 79,120 dollars, up 2.46 percent over 24 hours, and Ethereum near 2,543 dollars, up 1.55 percent. The stablecoin supply figures stand apart from those price moves, tracking only the amount in circulation across chains.

The data remain limited to on-chain allocation and total supply. No daily volume figures or holder counts beyond the chain split appear in the reports. The story centers on where the added supply settled rather than any single trading session.

Takeaway

RLUSD supply reached its latest mark through measured issuance that favored Ethereum infrastructure. The capital structure shows no external raise, and the chain split supplies the clearest signal of current preference.