<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
According to data provided by XRPL validator Vet, a whopping 99% of the entire supply of the RLUSD stablecoin has been <a href="https://x.com/vet_x0/status/1840212578611401112?s=46&amp;t=dYF0hpz-gFc8HcetSehFUQ" rel="noopener noreferrer nofollow">generated</a> in a single day.
A total of 800,000 RLUSD tokens have been minted over the last 24 hours.
The data from the X social media account that tracks RLUSD transfers shows that the latest mint of roughly 100,000 took place about eight months ago.
The uptick in the minting process likely indicates that the project is closer to launch.
Ripple’s stablecoin was originally announced back in April.
The company <a href="https://u.today/ripple-starts-testing-new-stablecoin?amp" rel="noopener noreferrer nofollow">started</a> beta testing the new product in August. The stablecoin would be initially available only to the company’s enterprise partners.
The company wants to tap into growing demand for stablecoins. Tether, the leading stablecoin company, has a market cap of roughly $119 billion.
As <a href="https://u.today/shib-among-worst-performing-coins-in-top-100-whats-happened" rel="noopener noreferrer nofollow">reported by U.Today</a>, XRP is one of the best performing cryptocurrencies over the 24 hours.
The cryptocurrency is showing impressive strength despite the fact that the U.S. Securities and Exchange Commission is widely expected to appeal the July 2023 ruling, which recognized secondary XRP sales as non-securities.
The upcoming launch of the stablecoin is expected to be another catalyst for the XRP token.
Earlier, Monica Long, Ripple’s president, <a href="https://u.today/ripple-president-says-xrp-etf-would-make-a-lot-of-sense?amp" rel="noopener noreferrer nofollow">spilled the beans</a> about the XRP token launching this year.

Ripple Mints 99% of RLUSD Tokens in 24 Hours

U_Today

Other articles published on Sep 29, 2024

Market Strategist: XRP Is Looking Like a Time Bomb Waiting to Explode

Korelasi Kripto dan Saham Meningkat, Oktober Siap Jadi Bulan Cerah?

Coinpedia Fintech News

Best Crypto Presales: BlockDAG’s $1M Giveaway Goes Viral While Pepe Unchained & Memebet Try to Ke...

Lutnick Urges Regulators to Embrace Bitcoin’s Potential in Traditional Finance

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!