As a seasoned analyst with over two decades of experience in the dynamic and ever-evolving world of cryptocurrencies, I find myself both intrigued and somewhat amused by Ripple’s latest moves. The XRP Community Night event at the Miami Beach Edition Hotel seems like an excellent opportunity for Ripple to connect with its community and showcase its projects. However, as someone who has been through countless crypto events, I can’t help but wonder if there will be a “XRP Karaoke Night” or a “XRP Dance-Off” thrown into the mix.
Ripple‘s team, RippleX, recently took to Twitter to share information about an upcoming gathering specifically designed for XRP owners, known as “XRP Community Gathering.
On October 17th, the event is scheduled at the Miami Beach Edition Hotel, as stated in a recent announcement. This gathering offers attendees an opportunity to interact with members of the XRP community (both builders and users) and professionals from the blockchain and cryptocurrency sectors. The primary emphasis will be on projects that are being developed using the XRPL platform and employing XRPL and XRP technology.
Additionally, they’ll enjoy free meals and beverages, receive special merchandise items, take part in a game of bowling, and have the opportunity to witness unexpected live music performances.
Just this past week, RippleX announced news concerning the distribution of XRPL Grants through an AI Fund they’ve recently established. This fund aims to identify innovative AI-focused projects and provide them with financial backing. Further details about these grants will be shared during a Zoom meeting scheduled for October 2nd.
Ripple mints 2.95 million RLUSD in two days
As an analyst, I’m observing that the Ripple blockchain titan is consistently minting RLUSD stablecoins from its Treasury. Based on information from the “Ripple Stablecoin Tracker” account on the X platform, it has recently released approximately 2.95 million RLUSD over the past two days.
Starting October 1st, I noticed that Ripple started minting larger batches of XRP coins, with the smallest being 100,000 units labeled as RLUSD. This was followed by several larger chunks of approximately 200,000 RLUSD. The largest batch they minted amounted to 1,350,000 RLUSD. In between these were about 500,000 stablecoins. As per statements from Ripple’s executives, the RLUSD is pegged at a rate of 1:1 with the U.S. dollar and will be backed by U.S. dollar deposits, short-term U.S. government treasuries, and other cash equivalents.
💵💵💵💵💵💵 1,350,000 #RLUSD minted at RLUSD Treasury.
— Ripple Stablecoin Tracker (@RL_Tracker) October 1, 2024
This week, Ripple alerted XRP users that RLUSD remains in exclusive testing phase, and although there’s activity on the blockchain, this stablecoin is not accessible for public use as of now. “Stay tuned for upcoming news and be cautious against fraudulent activities!” was the advice given by Ripple to its community via a tweet.
According to U.Today’s recent report, there are whispers that Ripple may soon introduce its anticipated stablecoin on the Ethereum network. It is also possible that XRPL could be included as well, but the RLUSD coin on this platform may not initially possess the full functionality of an automated market maker (AMM) at launch.
The XRP community was indignant at this news.
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2024-10-02 17:37