Blockworks: Q2 XRP spot trading volume fell 53%, RLUSD stablecoin supply increased 257% month-on-month

In comparison, Blockworks released the XRP Q2 report. At the end of the quarter, XRP closed at $1.04, down 19.9%, with a market capitalization of $65.8 billion, and is still the fourth largest non-stablecoin asset. The net inflow of XRP ETP was $253.6 million, the third consecutive quarter of positive inflows, with a cumulative total of over $1.9 billion. CEX's spot trading volume was $57.6 billion, down 53.5% from the previous month, and perpetual contract trading volume decreased by 44%.

XRPL native stablecoin supply increased 195.4% to $8255 million, of which RLUSD supply was $676.9 million, up 257% from month to month. OKX has listed over 280 RLUSD spot trading pairs, and the Financial Services Agency of Japan approved RLUSD as an electronic payment tool and distributed through SBI VC Trade. The total value of XRPL tokenized RWA increased 102.5% month-on-month to US$4.46 billion, a quarterly high, with Justoken's energy class JMWH accounting for about half. Stablecoin transfers increased 207.5% month-on-month to around $10 billion, with RLUSD accounting for about 90%.

In terms of online activity, the total transaction volume was 222.4 million (down 6.5% month-on-month), the average daily active addresses were 16,800 (down 10.7%), DEX trading volume was 482.9 million US dollars (down 35.9%), and transaction costs fell to $0.00024 (five consecutive quarters of decline). The loan agreement XLS-65/66 was supported by 9/35 and 8/35 validators, respectively. There is still a gap between the activation threshold of 29 votes, and a revised version will be submitted in Q3. In terms of institutional cooperation, Ondo, J.P. Morgan Kinexys, Mastercard and Ripple completed cross-chain redemption of tokenized US bonds, and Aviva Investors launched tokenized fund shares on XRPL after the season.