Crisis Averted? Ripple USD Sees Shocking Zero Burn Amidst Uncertainty!
Ripple's stablecoin, RLUSD, has experienced a rare day with zero burns recorded, while its circulating supply stands at $1.56 billion. The XRP Ledger has notably surpassed Ethereum as the primary host for RLUSD supply, driven by stable demand and customer redemptions on Ethereum. Furthermore, RLUSD recently achieved a significant milestone by gaining approval from Japan's financial regulator, allowing its use in one of Asia's most regulated crypto markets.David Isong • Crypto • 18 hours ago • 1 minute read •
A notable incident involving Ripple's stablecoin, RLUSD, has drawn attention as $0 worth was burned in recent hours. This rare occurrence is significant, considering that in prior months, RLUSD typically saw burns as part of its supply adjustment mechanisms, even on days with zero minting. On June 29, while no burns were recorded, $959,000 worth of RLUSD was minted. The current circulating supply of RLUSD stands at $1.56 billion, a decrease from its peak of $1.7 billion observed in earlier months. Observers are closely monitoring future transactions to confirm if this
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