In a delightful twist of fate, Ripple has, with a flourish befitting a magician, minted a staggering 10 million RLUSD (Ripple USD) stablecoins at its illustrious RLUSD Treasury. This revelation, shared by the ever-watchful Ripple Stablecoin Tracker on X, is nothing short of a digital confetti shower!
Today, in a spectacle that could only be rivaled by a circus, the U.S. Congress has passed the GENIUS Act. Yes, you heard it right! This legislative marvel could very well be the golden ticket for Ripple’s RLUSD. With rules clearer than a freshly polished window, RLUSD finds itself among the elite few stablecoins that are actually following them. Who knew compliance could be so fashionable?
Ah, minting! The art of conjuring new tokens, akin to printing money but with a blockchain twist. It’s a signal of rising demand, or perhaps just a clever ruse. Ripple, however, doesn’t just mint RLUSD on a whim; it follows a “burn” period, where tokens are ceremoniously removed from circulation, like a magician making a rabbit disappear. 🎩✨
RLUSD, that charming stablecoin, is tethered 1:1 to the US dollar, primarily frolicking on the Ethereum network. Designed for stability, it’s the perfect companion for those rapid crypto payments, trading escapades, and on-chain transactions, all while maintaining a serene demeanor amidst the price volatility chaos.
But wait, there’s more! Ripple has also minted a whopping 12 million RLUSD this week, marking the first significant activity since May. Prior to this minting bonanza, the supply had been as stagnant as a pond in mid-summer. Back in May, the last minting event was a two-part symphony, featuring 999,999 RLUSD and a grand 3 million RLUSD. And let’s not forget April, when Ripple went all out, minting 38 million RLUSD in a single day. Talk about a minting marathon!
As it stands, RLUSD (Ripple USD) boasts a total of 405.74 million tokens, with a market capitalization that tickles the $405.63 million mark. The 24-hour trade volume? A modest $60.23 million, down by around 50% in the past 24 hours. Ah, the rollercoaster of crypto!
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2025-06-18 22:15