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

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Over the past three days, there’s been a significant transfer of the newly launched Ripple USD stablecoin; approximately 10 million units of RLUSD have been moved from the Ripple Stablecoin Tracker X account.

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

10 million RLUSD on move

As a crypto investor, I’ve taken note of an intriguing observation: A tracking service has highlighted approximately 10 significant transactions, worth nearly 10 million units of RLUSD, that took place on the Ethereum network. These transactions were exchanged between anonymous blockchain addresses.

For the past hour, two significant transactions, each amounting to 1,400,000 units of RLUSD, were made from an unidentified wallet to another. The smallest transfer during this time frame was 588,029 RLUSD, while the largest one involved a transfer of 1,799,000 RLUSD.

On Sunday, January 12th, a total of three substantial sums in RLUSD, namely 1,763,085 RLUSD and 1,799,000 RLUSD, were transferred.

🚨🚨🚨🚨🚨🚨 1,400,000 #RLUSD transferred from unknown wallet to unknown wallet.

— Ripple Stablecoin Tracker (@RL_Tracker) January 13, 2025

In simple terms, a stablecoin tied to the value of the US dollar, supported by assets such as U.S. Treasuries, cash, and their equivalents, was formally introduced in early December following about a year of planning. Ripple aimed to make its mark and shake up the stablecoin market with this innovative offering.

The team behind RLUSD (Ripple’s USD stablecoin) has been in active discussions with key exchanges like Bitstamp, Bullish, and possibly Coinbase. As per Ripple President Monica Long, the arrival of RLUSD on multiple platforms is imminent. She emphasized that RLUSD will significantly contribute to B2B cross-border payments and remittances within the Ripple Payments system, alongside XRP token, playing a pivotal role in this domain.

Cardano founder negotiating with RLUSD team

According to a recent update on his X platform, Charles Hoskinson (Cardano and IOG founder) disclosed that discussions between the Cardano and Ripple teams are currently underway. This move follows an unsuccessful attempt by Cardano to incorporate major players like USDT and USDC onto its blockchain.

Nevertheless, it appears the company isn’t planning to develop a stablecoin of their own. Instead, they are allowing external developers to create one, similar to what happened with DJED. More recently, the introduction of RLUSD has seemingly piqued their curiosity and focus.

At the moment, RLUSD is ranked at position 2,983 on CoinMarketCap, boasting a market cap of over $53 million.

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2025-01-13 16:56