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XRP Ledger is on the verge of reaching a significant deflationary milestone, with the total number of XRP burned already approaching 14 million tokens. According to the most recent count on XRP Ledger explorer, XRPscan, XRP burned has reached an all-time high of 13,985,106.
This figure, while minor in comparison to XRP’s massive supply, represents a significant marker in XRP Ledger's ongoing commitment to utility and network health.
Unlike traditional token burn mechanisms such as buybacks or community-led campaigns, XRP burns occur naturally via transaction fees on XRP Ledger. Each transaction contains a small amount of XRP that is permanently destroyed, which aids in spam prevention and network efficiency.
Over time, this has led to the steady burning of XRP, with the current total approaching 14 million XRP.
XRP Ledger developments
The past week which concluded the XRP major community event, XRPLApex saw fresh announcements for the XRP ledger. In one of such, it was announced that USDC is now live on XRP Ledger.
With the launch of native USDC on the XRPL, developers, institutions and users get access to the world's largest regulated stablecoin for enterprise B2B payments and financial infrastructure apps.
Ondo Finance's flagship short-term U.S. Treasuries fund, OUSG, is now live on the XRPL, marking a significant milestone for tokenized real-world assets on XRP Ledger. Minting and redemptions would be through Ripple's stablecoin, RLUSD.
XRP was trading at $2.19 as of this writing, following a week-long sell-off.
Vladislav Sopov
U.Today Editorial Team