Key Highlights
- Total stablecoin holdings on the XRP Ledger expanded to $568 million, marking a 100% increase since December 2025.
- Retail addresses holding under 100 XRP tokens surged to an unprecedented 5.66 million wallets.
- XRP open interest on Binance declined to approximately $372.6 million, reaching the lowest point observed since 2024.
- Major South Korean exchanges witnessed a 55% decline in stablecoin reserves between July and mid-March.
- ERC20 stablecoin active addresses expanded from 85,000 to 600,000 throughout the previous twelve months.
The XRP Ledger has experienced substantial growth in stablecoin holdings, with total supply now standing at $568 million following a doubling period that began in December 2025. Simultaneously, retail participation has expanded significantly, with addresses holding smaller amounts of XRP reaching historic highs at 5.66 million. Derivatives markets tell a different story, with open interest declining to levels last seen in 2024.
XRP Ledger Stablecoin Holdings Double in Three Months
According to Artemis data, stablecoin supply across the XRP Ledger has expanded to $568 million. This figure represents a doubling of holdings compared to December 2025 levels. The milestone establishes a fresh peak for the blockchain network.
Data from CryptoQuant reveals that 5.66 million addresses currently maintain balances below 100 XRP. This metric establishes a new benchmark for smaller holders. The figures demonstrate expanding retail engagement throughout the ecosystem.
Analysis from Coinglass tracking Binance activity indicates XRP open interest decreased to roughly $372.6 million. This measurement represents the lowest recorded value since 2024. Previous market rallies had driven open interest beyond $1.7 billion when XRP prices exceeded $3.
Throughout temporary market uptrends in 2026, open interest fluctuated between $1.5 billion and $1.7 billion. XRP prices also climbed above $3 during several of these periods. Leveraged trading positions have experienced substantial contraction since those peaks.
Korean Exchange Reserves Decline While ERC20 Usage Expands
Blockchain analytics reveal stablecoin reserves across five prominent South Korean trading platforms have contracted by 55% since July 2025. Total balances decreased from $575 million in July to approximately $188 million by mid-March. This analysis encompasses Upbit, Bithumb, Coinone, Korbit, and GOPAX.
The reduction intensified following the Korean won’s depreciation beyond 1,500 per dollar in mid-March. The currency reached its weakest valuation against the dollar in 16 years. Such exchange rates had last occurred during the 2008 global financial crisis.
Traditional market indicators show the Kospi index declined 6.5% to 5,405.75 throughout this timeframe. The Kosdaq similarly dropped 5.6% to settle at 1,096.89. Market participants reduced their stablecoin positions amid heightened currency fluctuations.
Meanwhile, Artemis tracking shows ERC20 stablecoin active addresses grew from 85,000 in March 2025 to 600,000 in March 2026. This transition reflects a 600% expansion over the twelve-month period. Usage patterns have maintained upward momentum since 2024.
Regarding supply adjustments during the current year, USDC recorded the largest expansion with $4.5 billion in new issuance among monitored stablecoins. USDT supply contracted by approximately $2 billion during the same period. Exchange holdings currently total $65.37 billion following a 0.72% daily reduction.
Net withdrawals from trading platforms have surpassed $485 million. These movements indicate capital transfers into self-custody solutions rather than market exits. Aggregate stablecoin supply reaches $316.45 billion, posting a 0.17% weekly increase.
USDT supply expanded 0.08% to $184.1 billion. USDC supply decreased 0.22% to $79.1 billion. These measurements represent the latest available tracking data.
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