Ripple Liquidates Over 12 Million RLUSD Tokens
Catch the Latest on Ripple's RLUSD Burn and Mint on Google News
In an intriguing twist, Ripple scorched 12 million Ripple USD (RLUSD) tokens, as per the April 23 ** announcement**. Immediately following this blaze, the same number of tokens were birthed at the RLUSD Treasury.
Earlier in April, Ripple engineered over 100 million tokens in response to escalating demand.
Here's a quick round-up of other headlines:
- XRP Goes Mobile for 20 Million Japanese Users
- CME Ready to Unveil XRP Futures
- Strategy CEO Makes a Buzz with New Bitcoin Post
- Binance CEO's Vision: Onboarding the Next Billion
As per CoinGecko stats, the market cap of RLUSD is edging towards the $300 million mark.
Given our previous coverage, Ripple aims to see RLUSD amongst the top 5 biggest stablecoins by market cap by year-end. The stablecoin can be found on platforms such as Bitstamp, Kraken, and Bullish.
Ride the Ripple Wave #RippleNews #RLUSD
Behind the Scenes:
The Rise of RLUSD
Ripple's strategic initiatives to boost RLUSD include:
- Integrating RLUSD for Cross-Border Payments: Ripple has integrated RLUSD into its cross-border payment solution to expedite and streamline global transactions. This integration will initially benefit select customers, with plans to expand its reach over time.
- Broadening Exchange Listings: With listings on exchanges like Kraken, LMAX Digital, Zero Hash, Bitstamp, and Bullish, RLUSD aims to make transactions more accessible to a broader array of retail users and institutional clients.
- Leveraging Utility and Use Cases: Beyond its cross-border payment role, RLUSD can provide liquidity for remittances and treasury operations, interact with DeFi protocols, serve as a bridge between traditional fiat currencies and crypto ecosystems, and function as collateral for trading tokenized assets.
- Stressing Compliance and Trust: Ripple has emphasized that RLUSD is designed with compliance at its core, essential for gaining acceptance and trust among financial institutions.
- Aspiring for Greatness: Analysts speculate that RLUSD could potentially crack the top 5 stablecoin rankings by the end of 2025, providing it achieves robust growth, roughly a 13-fold increase from its February market cap of about $170 million.
- The market cap of Ripple's RLUSD stablecoin, as reported by CoinGecko, is progressing towards the $300 million mark.
- Ripple has integrated RLUSD into its cross-border payment solution to enhance global transactions' speed and efficiency.
- In April, Ripple minted over 100 million RLUSD tokens in response to escalating demand and subsequently burned 12 million of them as announced on April 23.
- Binance CEO's vision includes onboarding the next billion users into the world of finance, joining other headlines, such as CME's readiness to unveil XRP futures and XRP becoming mobile for 20 million Japanese users.
- Analysts anticipate that RLUSD could potentially rank amongst the top 5 largest stablecoins by market cap by the end of 2025, provided it achieves robust growth, aiming for a more than 13-fold increase from its February market cap of approximately $170 million.
