Stablecoin

2024

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Ripple blockchain giant continues to test RLUSD on-chain prior to the launch, which now seems not very far away. According to data provided by the “Ripple Stablecoin Tracker” on the X platform (widely famous as Twitter in the past), recently, Ripple Treasury has minted several tens of <a href="https://u.today/ripple-mints-gigantic-45-million-rlusd-stablecoin-in-24-hours">millions of Ripple USD stablecoins</a>.
After minting, these RLUSD batches were transferred and usually sent to anonymous blockchain addresses.
This happened after Ripple revealed its partners that will provide liquidity for the stablecoin, and the company’s CEO Brad Garlinghouse revealed that RLUSD was intended to become the gold standard for enterprise-grade stablecoins.
<h2 id="42-million-rlusd-on-move">42 million RLUSD on move</h2>
Ripple Stablecoin Tracker has shared the details of six large RLUSD transactions, when a total of 42 million stablecoins were moved. The data source marked those transfers as made either from “RLUSD Treasury to RLUSD Treasury” or facilitated between two “unknown wallets.”
<blockquote>
 🚨🚨🚨🚨🚨🚨 4,000,000 <a href="https://twitter.com/hashtag/RLUSD?src=hash&amp;ref_src=twsrc%5Etfw">#RLUSD</a> transferred from unknown wallet to unknown wallet.<a href="https://t.co/bk00974SmZ">https://t.co/bk00974SmZ</a>— Ripple Stablecoin Tracker (@RL_Tracker) <a href="https://twitter.com/RL_Tracker/status/1846626731823624293?ref_src=twsrc%5Etfw">October 16, 2024</a>
</blockquote> 
The largest transfer of these six carried an astounding 18,000,000 RLUSD. Two smaller ones carried half the crypto – 9,000,000 RLUSD each. One transfer moved 4,000,000 RLUSD, while the two smallest ones helped shovel 1,000,000 RLUSD each.
<blockquote>
 🚨🚨🚨🚨🚨🚨🚨 18,000,000 <a href="https://twitter.com/hashtag/RLUSD?src=hash&amp;ref_src=twsrc%5Etfw">#RLUSD</a> transferred from unknown wallet to unknown wallet.<a href="https://t.co/fl9tZzKwOf">https://t.co/fl9tZzKwOf</a>— Ripple Stablecoin Tracker (@RL_Tracker) <a href="https://twitter.com/RL_Tracker/status/1846289871670759888?ref_src=twsrc%5Etfw">October 15, 2024</a>
</blockquote> 
The crypto community reacted enthusiastically, posting multiple comments under those tweets. Many praised XRP and Ripple, and one X user stated that he expects one billion RLUSD to be minted soon.
<h2 id="ripple-ceo-and-ripple-president-speak-out-on-rlusd">Ripple CEO and Ripple president speak out on RLUSD</h2>
In a recent tweet, Ripple chief executive Brad Garlinghouse <a href="https://u.today/ripple-ceo-breaks-silence-on-ripple-usd-rlusd-stablecoin-ahead-of-launch">made a statement on RLUSD</a>, while commenting on the start of the annual event Ripple Swell, where keynote figures in the crypto industry speak on stage in front of an audience of XRP loves, and the XRP army meets to exchange experience and share their ideas.
Garlinghouse reminded his readers on X that by now, RLUSD has been almost a year in the making. He also said that at Swell, Ripple announced the crypto exchanges and market makers that will help RLUSD with liquidity, and that “RLUSD is set to become the gold standard for enterprise-grade stablecoins” as it is built based on trust, liquidity and compliance with regulators.
<blockquote>
 Kicking off Ripple Swell with a bang! RLUSD has been nearly a year in the making, and with our trusted exchange partners, market makers, and advisory board, RLUSD is set to become the gold standard for enterprise-grade stablecoins—built on trust, liquidity, and compliance. <a href="https://t.co/fLPglsjkfI">https://t.co/fLPglsjkfI</a>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1846344583745061233?ref_src=twsrc%5Etfw">October 16, 2024</a>
</blockquote> 
As for Ripple President Monica Long, she recently tweeted that RLUSD will be used alongside XRP on the Ripple network, which certainly pleased the XRP community.

Ripple Transfers 42 Million RLUSD in 48 Hours, Community Abuzz

Table of Contents

U_Today

Other articles published on Oct 17, 2024

Massachusetts Senate Showdown: Elizabeth Warren and John Deaton Clash Over Crypto Regulation

Meme Token Whale Profits Over 5 Million Dollars through Strategic Investments

Major Developments for Solana and Two Other Cryptos: Big Partnerships Announced!

Whales Boost Bitcoin Holdings in New Wallets

Italy To Hammer Bitcoin Profits By Hiking Capital Gains Tax On Cryptocurrencies To 42%

Core Foundation Launches Developer-Focused 'Core Commit Program' with Funding and Mentorship

Join our free newsletter for daily crypto updates!