August proved a strong month for
@Ripple's ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed, which saw its supply jump 63.8% to $2.31 billion from $1.41 billion in July.
The improving broader market likely led to this jump, which marked a big departure from July when the stablecoin declined 10.8%. ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed ended August outperforming the broader stablecoin market, which gained just 2.6% in August.
Usage of the stablecoin also rose, with the number of ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed holders rising 38.8% to 84,600, and transfer volume jumping 56.9% to $14.82 billion.