Over the past 24 hours, large numbers of RLUSD tokens have been burned, which means that the tokens have been removed from circulation.
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The process of burning typically involves sending tokens to irretrievable addresses.
A total of 4 million Ethereum-based RLUSD tokens have been burned at the RLUSD Treasury over the aforementioned period of time.
No new tokens were minted during the last 24 hours, according to the Ripple Stablecoin Tracker X account that provides the latest updates surrounding the red-hot stablecoin.
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The last minting event took place on Apr. 25, with Ripple creating a total of 23 million tokens.
The total market cap of RLUSD currently stands at more than $300 million.
Vladislav Sopov
Dan Burgin