As a seasoned crypto investor with a knack for keeping my fingers on the pulse of the industry, I find the recent activity surrounding Ripple Labs and their RLUSD stablecoin quite intriguing. Having witnessed the ebb and flow of numerous blockchain projects over the years, it’s refreshing to see a heavyweight like Ripple continuing to innovate and push boundaries.
According to updates from the “Ripple Stablecoin Tracker” account on the X-platform, which uses data from Etherscan, it appears that Ripple Labs, a significant player in the blockchain industry, is still releasing new RLUSD stablecoins following the recent introduction of this asset.
As an analyst, I can confirm that today, I observed the RLUSD Treasury generating 90 stablecoins pegged to the US dollar on the Ethereum blockchain.
13 hours ago, the post was published, but it’s important to note that it wasn’t the sole batch minted on this day. Before that, based on the tracker’s data, the Treasury carried out multiple RLUSD emissions, resulting in a total of 402 RLUSD being created today.
💵💵💵 90 #RLUSD minted at RLUSD Treasury.
— Ripple Stablecoin Tracker (@RL_Tracker) September 11, 2024
After a week-long pause, the minting process restarted today, with the last instance being on September 6th when RLUSD were produced. On that specific day, an amount of 85 stablecoins were created, and almost all of them were quickly destroyed following their issuance. These activities involving creation and destruction are part of the ongoing testing process for stablecoins conducted by Ripple.
Based on the data from our monitor, it was at the close of August when the Treasury initiated the circulation of RLUSD. The RLUSD maintains a fixed value equivalent to the U.S. dollar, with its reserves consisting of dollar deposits, short-term U.S. treasury bonds, and other readily available financial assets.
An independent firm is going to examine Ripple’s assets, and every month, they will release a public report confirming their findings.
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2024-09-12 16:30