As the highly anticipated launch of RLUSD, Ripple’s stablecoin, draws closer, the minting and on-chain activity surrounding the token has intensified. With millions of RLUSD tokens already minted on both the XRP Ledger and Ethereum networks, the stablecoin is poised to make a significant impact on the cryptocurrency market.
RLUSD Minting and Supply
The total supply of RLUSD has reached $47.4 million, with 73.4% of the tokens minted on the XRP Ledger and the remaining 26.6% on Ethereum. This rapid increase in supply reflects Ripple’s commitment to accelerating large-scale testing and preparing for the public launch.
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On-Chain Activity and Testing
Ripple has been actively conducting on-chain transactions involving RLUSD to test the stablecoin’s functionality and performance. These transactions include large-scale transfers between different addresses, which are crucial for ensuring the smooth operation of the stablecoin.
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Impact on XRP and the XRP Ledger
The launch of RLUSD is expected to have a positive impact on XRP and the XRP Ledger. By providing a stable and reliable asset within the ecosystem, RLUSD could attract more institutional investors and increase liquidity. This could ultimately lead to a rise in XRP’s price and overall adoption.
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Conclusion
As RLUSD’s launch approaches, the excitement and anticipation within the XRP community are growing. The increasing minting activity and on-chain testing indicate that Ripple is making steady progress towards the public release of the stablecoin. With its potential to drive growth and innovation within the XRP ecosystem, RLUSD is a project worth watching closely.