🚨 RLUSD Minting Resumes: Ripple‘s Secret Sauce 🤫
And so, the great RLUSD minting machine has roared back to life, like a behemoth from the depths of the Siberian wilderness, spewing forth 6.5 million new tokens into the void. But what’s behind this sudden burst of productivity? 🤔
Ripple Labs Resumes RLUSD Minting
According to the Ripple Stablecoin Tracker, the blockchain payments firm has added 6.5 million RLUSD to the circulation, a move that underscores its strategic approach to releasing RLUSD. But what strategy, you ask? 🤷♂️
The new minting was done on the Ethereum blockchain, one of the only two blockchains on which Ripple issues RLUSD alongside the XRP Ledger (XRPL). Ah, the eternal question: why Ethereum and not, say, Solana or Polkadot? 🤔
because what’s a little innovation without a catchy acronym? 🤣
The GENIUS Act for stablecoins, introduced by Senator Bill Hagerty, requires token issuers to implement technology that allows them to freeze or seize funds when legally mandated. Ah, the joys of regulatory compliance! 😴
In addition, Schwartz explained that this feature ensures compliance with regulatory obligations. Ah, because nothing says “innovation” like a good dose of regulatory compliance. 🙄
The Stablecoin Market and the Place of RLUSD
will XRP follow RLUSD’s lead, or will it forge its own path? 🤔
However, the effect on XRP’s price remains uncertain. The market has been volatile, with investors closely watching regulatory developments and the possibility of an XRP exchange-traded fund (ETF) approval. Ah, the thrill of uncertainty! 🌪️
In a related XRP price analysis, crypto analyst Ali Martinez revealed that the coin could still rally to as high as $15 in this market cycle amid the recent crash. Ah, the eternal optimism of the crypto market! 🌟
CoinMarketCap data shows that the token’s market capitalization is $136.58 billion, up 4.84% from the previous day. Ah, the never-ending march of progress! 🚀
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2025-03-14 22:32