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.
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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.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team