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X account Ripple Stablecoin Tracker, which monitors RLUSD transfers made by Ripple and various anonymous wallets, spreads the word that over the past 24 hours, almost 21 million Ripple USD stablecoins have been shoveled.
It released the details of a dozen cryptocurrency transfers, each carrying at least a million RLUSD.
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20.7 million RLUSD on the move
The above-mentioned data source revealed twelve transactions showing that anonymous wallets have transferred chunks between 1 million and 3.5 million RLUSD to other unknown blockchain addresses.
Overall, according to the RL Tracker, roughly 20.7 million RLUSD has been moved since last morning. The largest transfers carried 3,500,000, 3,039,009, and 3,500,000 RLUSD.
1,221,000 RLUSD were minted at the Ripple Treasury as revealed by the tracker.
The stablecoin was officially launched on both XRPL and Ethereum chains, in early December after being in a closed beta since August when Ripple constantly minted and then burned stablecoins. According to the recently published white paper, the company intends to use the new product for improving cross-border B2B payments and remittances, as well as on/off-ramps for fiat currencies.
So far, more than 80 million RLUSD stablecoins have been minted by the blockchain juggernaut and it seems to be fully backed by USD and cash-equivalent reserves. Later this month, Ripple intends to release an attestation report which will reveal asset holdings it uses for backing RLUSD.
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Ripple president’s big RLUSD statement
In an interview to Bloomberg, Ripple’s president Monica Long said that she expects 2025 to be big for crypto overall, and not just for Ripple and RLUSD. Therefore, she believes that the demand for stablecoins will surge and here is where the Ripple USD token will come in handy for financial institutions and retail users as well.
So far, the new stablecoin has been adopted by a few platforms, including Bitstamp and Bullish. However, Long expects that other large cryptocurrency exchanges will follow suit pretty soon and overall RLUSD will receive a wide adoption across the cryptocurrency and blockchain space.
Monica Long also believes that in 2025, the SEC will continue approving crypto-based exchange-traded funds and she reckons that XRP ETF will be among them, probably even the next one after Bitcoin and Ethereum ETFs approved last year.
Source: https://u.today/207-million-rlusd-in-24-hours-as-ripple-president-makes-crucial-rlusd-statement