Roughly 10 Million RLUSD Change Hands in Past 3 Days: Details

Ripple Stablecoin Tracker X account has shared that over the last three days, a massive amount of the recently launched Ripple USD stablecoin has been shoveled — nearly 10 million RLUSD in total.

Over the past two hours alone, a 2,800,000 RLUSD transfer was spotted.

10 million RLUSD on move

The aforementioned tracking service has noticed 10 large transactions, which carried a RLUSD amount close to 10 million. These transfers were performed between anonymous blockchain addresses on the Ethereum network.

Over the past hour, two massive transfers of 1,400,000 RLUSD each were sent from one unknown wallet to another. The smallest batch that has been transferred during the above-mentioned period of time was 588,029 RLUSD, while the largest one comprised 1,799,000 RLUSD.

That and two other large RLUSD amounts — 1,763,085 and 1,799,000 RLUSD — were moved on Sunday, Jan. 12.

This stablecoin pegged to the U.S. dollar and backed by a variety of assets, including U.S. Treasuries, cash and its equivalents, was officially launched in early December after almost a year of preparation. Ripple was determined to enter the stablecoin market and disrupt it with a new product.

It has already been listed by such major exchanges as Bitstamp and Bullish and, according to Ripple president Monica Long, the team is actively negotiating with such platforms as Coinbase and similar ones. She stated that the emergence of RLUSD on all platforms is imminent and promised that it will play a major role in B2B cross-border payments and remittances in the Ripple Payments system, along with the XRP token.

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Cardano founder negotiating with RLUSD team

In an X post published today, Cardano and IOG founder Charles Hoskinson revealed that Cardano and the Ripple teams “are actively talking.” These efforts come after Cardano failed to integrate such market leaders as USDT and USDC on its blockchain.

However, the company does not seem to intend to create its own stablecoin. But it is letting third-party developers do that, as was in the case with the DJED. Now, the recently launched RLUSD seems to have caught their interest and attention.

Currently, RLUSD occupies 2,983rd place on CoinMarketCap, with a market capitalization of slightly more than $53 million.