Ripple Unleashes 290 Million RLUSD Issuance: Will a Market Surge Erupt with Massive Supply?

▲ RLUSD, USD (Dollar), Stablecoin / AI-generated image

Ripple has accelerated the issuance of RLUSD in July, restarting the expansion of stablecoin supply, primarily centered around the XRP Ledger.

According to the cryptocurrency media The Crypto Basic on July 3rd (local time), Ripple issued a total of 291.6 million RLUSD on the XRP Ledger and Ethereum (ETH) during the first two days of July. Approximately 77% of this, 225.8 million RLUSD, was issued on the XRP Ledger. This figure is cited from data provided by a community-based RLUSD tracker built by XRPL validator Vet.

The issuance began on July 1st at 3:41 PM UTC with 11 million RLUSD minted on the XRP Ledger. Subsequently, Ripple processed a series of smaller transactions ranging from 600,000 RLUSD to 995,000 RLUSD within 13 minutes. On the same day, at 8:02 PM, 65.3 million RLUSD was issued on the XRP Ledger, followed by an additional 78.85 million RLUSD approximately an hour later. This 78.85 million RLUSD issuance is the largest single issuance across the entire network since the 200 million RLUSD issuance on the XRP Ledger on May 20th.

On July 1st alone, Ripple issued a total of 169.8 million RLUSD and burned only 150,000 RLUSD. Most of the issued volume, approximately 169.5 million RLUSD, originated from the XRP Ledger, while all 150,000 RLUSD burned were processed on Ethereum. On July 2nd, 121.8 million RLUSD was issued, and 68.1 million RLUSD was burned. On the XRP Ledger, 56.3 million RLUSD was issued, but 58.1 million RLUSD was burned, while on Ethereum, 65.5 million RLUSD was issued and 9.9 million RLUSD was burned.

Over the two days combined, Ripple issued 291.6 million RLUSD and burned 68.25 million RLUSD. On the XRP Ledger, 225.8 million RLUSD was issued and 58.1 million RLUSD was burned, resulting in a net increase of 167.7 million RLUSD. On Ethereum, 65.8 million RLUSD was issued and 10.05 million RLUSD was burned, resulting in a net increase of 55.75 million RLUSD.

However, a significant portion of the recent XRP Ledger issuances also serve to replenish tokens that Ripple redeemed at the end of June. On June 30th, Ripple burned approximately 146.3 million RLUSD on the XRP Ledger, and the net supply change, reflecting that day's issuance, was -136.1 million RLUSD. Over the last 7 days, 205.8 million RLUSD was burned and 246 million RLUSD was issued on the XRP Ledger.

After recent issuances and burns, the total RLUSD supply across both networks was recorded as 1.634 billion RLUSD. Of this, 844.5 million RLUSD remained on the XRP Ledger, accounting for 51.7% of the total. On Ethereum, 789.83 million RLUSD was deployed, representing 48.3%. While Ripple supports both networks, it placed a greater emphasis on the XRP Ledger in the early July issuance trend.

[Article Key Summary]

-Ripple issued a total of 291.6 million RLUSD on the XRP Ledger and Ethereum during the first two days of July.

-Approximately 77% of the total issuance, 225.8 million RLUSD, was issued on the XRP Ledger, with a net increase of 167.7 million RLUSD on the XRP Ledger.

-After recent adjustments, the total RLUSD supply is 1.634 billion RLUSD, with the XRP Ledger accounting for a larger proportion at 51.7% compared to Ethereum.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*