Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Data released by the Ripple Stablecoin Tracker account on X shows that blockchain behemoth Ripple has resumed minting Ripple USD (RLUSD) stablecoins.
Three large mints made by the Ripple Treasury were spotted on the last day of a more than two-week break.
9.1 million RLUSD minted after long break
According to the aforementioned source, the Ripple giant minted three batches of stablecoins on Thursday: 3,100,000 RLUSD; 4,000,000 RLUSD and 2,000,000 RLUSD.
The most recent of those lumps was minted five hours ago.
The 3.1 million batch was the first RLUSD amount minted by the Ripple Treasury after a break of 17 days.
Before that, Ripple issued 625,000 RLUSD on Feb. 10, and then the long pause took place.
Curiously, while 3,100,000 RLUSD were minted on the XRP Ledger, the other two RLUSD chunks were issued on the Ethereum chain. These are the only two blockchains this stablecoin runs on so far. As reported by U.Today, Cardano founder Charles Hoskinson mentioned that he was in talks with the Ripple USD team to bring RLUSD to the Cardano network as well.
RLUSD currently holds 513th place on CoinMarketCap’s scale, with a market capitalization of $53.1 million. Over the past 24 hours, the trading volume of this stablecoin has experienced a surge of 36.42% as the market began to react to Ripple resuming the mints.
Gamza KhanzadaevXRP network activity crashes 50%
As covered by U.Today, earlier this week data emerged that, over the past three months, the XRP network has seen a massive activity decline of approximately 50%.
According to the Glassnode data shared on X by crypto analyst Ali Martinez, the number of active XRP wallets on the network has declined from 202,250 at the start of December to 101,160 at the moment.
This coincided with a significant drop in demand on the network for remittances and transactional payments. As reported by U.Today, the transaction volume on XRP Ledger suddenly declined by one million transfers at the end of January. A month later, on Feb. 25, a spike of 2,054,526 transactions occurred.
BTC
Vladislav Sopov
Dan Burgin