A total of 12 million Ripple USD (RLUSD) tokens were burned by Ripple, according to an April 23 update.
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Shortly after this, the same number of tokens was minted at the RLUSD Treasury.
In early April, Ripple created more than 100 million tokens amid growing demand.
The market cap of RLUSD is now approaching the $300 million mark, according to CoinGecko data.
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As reported by U.Today, Ripple wants RLUSD to appear among the top 5 biggest stablecoin by market cap by the end of the year.
The stablecoin is available on such platforms as Bitstamp, Kraken, and Bullish.
Vladislav Sopov
Dan Burgin