Over the past day, there’s been substantial activity with Ripple‘s stablecoin, RLUSD. As per on-chain records, a total of 12 transactions involving RLUSD took place within this period, amounting to approximately 8,104,394 units. The latest transaction included a transfer of 588,029 RLUSD between two unidentified wallets.
🚨🚨🚨🚨🚨🚨 588,029 #RLUSD transferred from unknown wallet to unknown wallet.
— Ripple Stablecoin Tracker (@RL_Tracker) January 10, 2025
In the past 24 hours, the Ripple Stablecoin Tracker – a community account monitoring X, has recorded 588,029 RLUSD being transferred from one unidentified wallet to another, along with several other transactions ranging from 500,000 to 1,000,000 RLUSD each. In total, these 12 transactions moved a sum of 8,104,394 RLUSD.
The following transfers took place: an initial transfer of 588,029 units of RLUSD, followed by four separate transfers of 600,000 units each, between unidentified wallets; two separate transfers of 500,000 units each also occurred between unidentified wallets; another two transfers took place, one for 586,230 RLUSD and the other for 980,220 RLUSD, again between unidentified wallets; lastly, there were two separate transfers of 1,000,000 units each and another transfer of 549,915 units, all taking place between unidentified wallets.
Ripple stablecoin gains traction
In the past few weeks, the Ripple stablecoin has been growing in popularity since it was first launched on December 17th. Notably, Bitstamp, a significant cryptocurrency exchange, has introduced Ripple USD (RLUSD) on the Ethereum network to their list of assets. This digital currency is specifically designed for high-level financial applications like payments and tokenization.
New trading pairs have been introduced on the Bitstamp exchange: US Dollar (USD), Euro (EUR), Tether (USDT), Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) paired with USD (RLUSD).
According to Monica Long, the president of Ripple, it’s likely that you will see Ripple’s partnership with RLUSD (Ripple Liquidity Solutions US Dollar) on various platforms very soon. Moreover, she anticipates the introduction of an Exchange-Traded Fund (ETF) based on XRP in the near future.
In a recent tweet, the head of Ripple suggested that the market for stablecoins is expected to experience significant expansion this year. This growth, he implied, will strengthen use cases such as on/off ramps, access to US dollars, and cross-border enterprise payments. These benefits are likely to be further enhanced by complementary assets like XRP.
In simple terms, this week, Ripple revealed that RLUSD (Ripple’s USD stablecoin) has chosen to use the Chainlink protocol for reliable data verification. This move is designed to boost the adoption of Decentralized Finance (DeFi) by providing real-time, secure pricing information.
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2025-01-10 16:18