Ripple’s Activity Spike Features 54,000,000 RLUSD, Here’s What Happened
04/25/2025 15:49
Blockchain behemoth Ripple keeps minting and burning RLUSD
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Cryptocurrency juggernaut Ripple, San-Francisco-based, has resumed activities with its recently launched product – Ripple USD (RLUSD) stablecoin. After a two-day break, it has minted and also burned more RLUSD tokens. A massive amount of RLUSD has been involved here over the past twelve hours.
Related
54 million RLUSD burned and minted
Data shared by the Ripple Stablecoin Tracker (@RL_Tracker) account reveals that after a two-day pause, the Ripple behemoth has resumed issuing its dollar-pegged USD stablecoin.
Roughly twelve hours ago, two chunks of RLUSD were minted and then incinerated by getting transferred to unspendable blockchain wallets: 12,000,000 RLUSD and 15,000,000 RLUSD were issued and the same two chunks were burned afterwards, making it 54,000,000 RLUSD in total.
It seems that Ripple continues testing its new product despite the fact that it has already been listed by several large cryptocurrency exchanges and is already circulating in the market.
Before today, the most recent mint and burn took place on April 23, when Ripple issued and also burned 12,000,000 RLUSD.
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$65,353,715 in XRP anonymously goes to Coinbase
Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers and shares their details on its website and X profile, has informed the XRP community about a massive transaction that took place roughly 17 hours ago.
According to the post published by this data source, an anonymous wallet owner transferred 29,532,534 XRP to the largest US-based crypto exchange by trading volume – Coinbase.
Some crypto enthusiasts stated in the comments that this was most likely a whale selling XRP. However, data shared by XRPscan refuted that assumption. According to it, this transaction was initiated by Coinbase itself, which makes this an internal transfer as Coinbase was reshuffling its XRP holdings, spreading them between its own wallets.