CandleFocus 2,450,000 RLUSD in 24 Hours, What Is Ripple Up To?
2024-10-02
Author: Content Editor
Ripple Labs is intensifying its testing of the RLUSD stablecoin, with 2.45 million tokens being minted in October. The tokens were minted in four tranches, with the largest amount minted on the XRP Ledger and the second largest amount on the Ethereum blockchain. Ripple Labs has not conducted any burning of RLUSD tokens during this testing period. The higher token mint on the XRP Ledger may be due to Ripple's desire to demonstrate its reliability compared to Ethereum, which currently hosts more stablecoins. Ripple is waiting for regulatory clearance before launching RLUSD to avoid potential lawsuits from the SEC. The deadline for filing an appeal in Ripple's case against the SEC is approaching.
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