XRP’s massive liquidity, its market capitalization of over $181 billion, and daily trading volumes comfortably above $10 billion now see it ready to take on a new role in the USDe ecosystem.
XRP has cleared all these requirements, which means that it is strong enough from a risk perspective to be considered as part of USDe’s perpetual futures collateral system.
For years, XRP has maintained its status as one of the most liquid digital assets in the market. Its market capitalization, which is at $181.944 billion at the time of writing, has grown massively in the past year. This has seen it climbing in market cap ranks, and it is now sitting behind only Bitcoin and Ethereum.
According to Ethena, XRP, alongside HYPE, has only met all the thresholds and is a candidate for onboarding shortly. Only BNB has been approved as the first new eligible asset for the perpetual futures portion of the collateral backing of USDe.
Featured image from Virtune, chart from TradingView
