Data released by the Ripple Stablecoin Tracker account on X shows that blockchain behemoth Ripple has resumed minting Ripple USD (RLUSD) stablecoins.
Three large mints made by Ripple Treasury were spotted on the last day of a more than two-week break.
💵💵💵💵💵💵 4,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/G1ORY8qjaT
— Ripple Stablecoin Tracker (@RL_Tracker) February 27, 2025
9.1 million RLUSD minted after long break
According to the aforementioned source, the Ripple giant minted three batches of stablecoins on Thursday: 3,100,000 RLUSD, 4,000,000 RLUSD, and 2,000,000 RLUSD.
The most recent of those lumps was minted five hours ago.
💵💵💵💵💵💵 2,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/0iMlCm4Dcr
— Ripple Stablecoin Tracker (@RL_Tracker) February 28, 2025
The 3.1 million batch was the first RLUSD amount minted by Ripple Treasury after a break of seventeen days.
Before that, Ripple issued 625,000 RLUSD on February 10 and then the long pause took place.
Curiously, while 3,100,000 RLUSD were minted on the XRP ledger, the other two RLUSD chunks were issued on the Ethereum chain. These are the only two blockchains this stablecoin runs on so far. As reported by U.Today, Cardano founder Charles Hoskinson mentioned that he was in talks with the Ripple USD team to bring RLUSD to the Cardano network as well.
RLUSD currently holds the 513th spot on the CoinMarketCap’s scale with a market capitalization of $53.1 million. Over the past 24 hours, the trading volume of this stablecoin has experienced a surge of 36.42% as the market began to react to Ripple resuming the mints.
XRP network activity crashes 50%
As covered by U.Today, earlier this week data emerged, saying that over the past three months, the XRP network has seen a massive activity decline of approximately 50%.
According to the Glassnode data shared on X by crypto analyst Ali Martinez, the number of active XRP wallets on the network has declined from 202,250 at the start of December to 101,160 at the moment.
This coincided with a significant drop in demand for the network for remittances and transactional payments. As reported by U.Today, the transaction volume on the XRP ledger suddenly declined by 1 million transfers at the end of January. A month later, on February 25, a spike of 2,054,526 transactions occurred.
