- Ripple’s RLUSD supply increases by 13 million tokens.
- Market cap approaches significant $500M milestone.
- Potential institutional interest shown through liquidity address transactions.
Ripple Labs recently minted 13 million RLUSD stablecoins in a strategic move to expand its market presence. The tokens were issued on the Ethereum blockchain, bringing RLUSD’s total supply near the $500 million benchmark.
Ripple’s action is significant in its competition with leading stablecoins USDT and USDC, indicating a robust push for market adoption and integration with potential institutional partners.
Ripple Labs, a leader in crypto infrastructure, issued this batch without direct leadership statements. The mint was confirmed through on-chain data.
The minting event has been confirmed on-chain and shared through the Ripple Stablecoin Tracker, indicating official recognition of the operation but lacking personal commentary from leadership.
The mint significantly impacts RLUSD’s supply, boosting it to $429 million. These tokens were directed to liquidity addresses, suggesting possible institutional involvement.
Ethereum’s network plays a crucial role as RLUSD is based on it.
Ripple’s mint could signal rising adoption in decentralized finance (DeFi) sectors, potentially increasing liquidity in governance tokens. The absence of direct regulatory commentary keeps the focus on the stablecoin’s market integration.
Ripple’s actions may align with its strategic goals to bolster DeFi liquidity and compete in the stablecoin market. Trends suggest a continued aggressive expansion with rising institutional interest potentially impacting market dynamics.
