Key Highlights
- XRP Ledger stablecoin holdings surged past 100%, reaching $568 million from December 2025 levels.
- Retail participation expanded as wallet addresses holding under 100 XRP reached an unprecedented 5.66 million.
- Binance XRP open interest collapsed to approximately $372.6 million, marking the weakest level observed since 2024.
- Major South Korean cryptocurrency exchanges experienced a 55% decline in stablecoin reserves between July and mid-March.
- ERC20 stablecoin network activity skyrocketed from 85,000 to 600,000 active addresses year-over-year.
The XRP Ledger has experienced remarkable growth in stablecoin holdings, with total supply crossing the $568 million threshold following a 100%+ expansion since December 2025. Concurrently, retail investor engagement has intensified, pushing the number of smaller wallet addresses to unprecedented levels at 5.66 million. Despite this growth, derivatives market indicators reveal a significant contraction in leveraged positions.
Stablecoin Holdings on XRP Ledger Experience Remarkable Expansion
According to Artemis data, stablecoin reserves on the XRP Ledger have climbed to $568 million, representing more than a doubling of value since the final month of 2025. This milestone establishes a new peak for stablecoin presence on the network.
Simultaneously, analytics from CryptoQuant reveal that addresses containing fewer than 100 XRP tokens have expanded to 5.66 million, establishing a fresh benchmark for smaller holder distribution. This metric underscores the broadening base of retail participants actively engaging with the network.
Conversely, Binance derivatives data compiled by Coinglass indicates XRP open interest has contracted to roughly $372.6 million, the weakest position recorded since 2024. Previous market rallies had driven open interest beyond $1.7 billion when XRP valuations exceeded the $3 threshold.
Throughout temporary price surges in 2026, open interest typically fluctuated within the $1.5 billion to $1.7 billion range. XRP valuations also breached $3 during certain periods. Nevertheless, leveraged trading activity has experienced substantial reduction since those peaks.
Korean Exchange Reserves Contract While Ethereum Stablecoin Usage Accelerates
Blockchain analytics reveal that the five leading cryptocurrency platforms in South Korea have witnessed a 55% contraction in stablecoin reserves since July 2025. Total holdings decreased from $575 million in July to approximately $188 million by mid-March. This analysis encompasses Upbit, Bithumb, Coinone, Korbit, and GOPAX platforms.
The drawdown intensified following the Korean won’s depreciation beyond the 1,500 per dollar exchange rate in mid-March. This currency level represents the weakest performance versus the dollar witnessed in sixteen years, not seen since the 2008 global financial downturn.
Equity market performance mirrored this volatility, with the Kospi index declining 6.5% to settle at 5,405.75 throughout the same timeframe. The Kosdaq similarly retreated 5.6%, closing at 1,096.89. Market participants reduced stablecoin exposure as currency fluctuations intensified.
Meanwhile, Artemis tracking indicates ERC20 stablecoin active addresses expanded from 85,000 in March 2025 to 600,000 in March 2026, marking a 600% surge across twelve months. Network engagement has maintained an upward trajectory since 2024.
Regarding supply dynamics this year, USDC experienced the most substantial expansion with $4.5 billion in additional issuance among monitored stablecoins. Conversely, USDT circulation contracted by approximately $2 billion. Exchange-held reserves currently stand at $65.37 billion following a 0.72% daily reduction.
Net withdrawals from centralized exchanges have surpassed $485 million, indicating capital migration toward self-custodial solutions rather than market exits. Aggregate stablecoin circulation reached $316.45 billion, reflecting a 0.17% weekly increase.
USDT circulation expanded 0.08% to $184.1 billion, while USDC supply decreased 0.22% to $79.1 billion. These values represent the latest recorded holdings across tracked platforms.
