Millions of RLUSD Ready to Hit Market After Recent Launch: Details

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As a seasoned crypto investor with over a decade of experience in this dynamic industry, I’ve witnessed countless launches and developments that have shaped the crypto landscape. The recent announcement by Ripple regarding the launch of their much-anticipated RLUSD stablecoin is indeed an exciting development.

As an analyst, I’m excited to share that the blockchain titan, Ripple, unveiled its long-awaited RLUSD stablecoin this week. Since then, it has been consistently minting these stablecoins, with more than 10 million produced over the past two days.

Data has been officially published by the Ripple Stablecoin Tracker account on X.

10.3 million RLUSD moved by Ripple

It’s been shared that the specified data source announced a significant production of Ripple USD stablecoins by the San Francisco-based cryptocurrency unicorn. Over the last 48 hours, more than 10,300,000 units of RLUSD were moved.

Those 10.3 million stablecoins were transferred in batches of one million and 500,000 RLUSD.

🚨🚨🚨🚨🚨🚨 1,000,000 #RLUSD transferred from unknown wallet to Uphold.

— Ripple Stablecoin Tracker (@RL_Tracker) December 18, 2024

Approximately half a million RLUSD were moved from the Ripple Treasury to the Lithuanian-based cryptocurrency exchange, Uphold, as stated earlier.

Ripple president speaks out on RLUSD launch

Today, Ripple shared a post featuring an interview with its president Monica Long discussing the newly released RLUSD stablecoin. She emphasized to the cryptocurrency community that the current market value of stablecoins is around $160 billion, and it’s projected to reach as much as about $3 trillion within the next four years.

In the current market scenario, as Long stated, there’s an ongoing expansion in the need for stablecoins that focus on “compliance with regulations, broader diversification, and promoting practical applications.” The Ripple president highlighted that these very aspects are indeed features of the Ripple-backed stablecoin.

The market for stablecoins is expanding, yet trustworthiness, adherence to regulations, and usefulness are paramount.

— Ripple (@Ripple) December 18, 2024

As a crypto investor, I’m thrilled about the launch of RLUSD by Ripple. This move signifies another significant stride in our quest to bridge the chasm between conventional finance and the blockchain world.

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2024-12-19 18:09