According to data provided by validator XRPL Vet, 99% of the entire supply of RLUSD stablecoins has been exhausted. generated in one day.
A total of 800,000 RLUSD tokens were minted over the last 24 hours.
Data from X’s social media account that tracks RLUSD transfers shows that the most recent minting of around 100,000 occurred about eight months ago.
Improvements in the printing process likely indicate that the project is getting closer to launch.
Ripple’s stablecoin was initially announced in April.
Company started beta testing new products in August. Stablecoins were initially only available to the company’s corporate partners.
The company wants to capitalize on the growing demand for stablecoins. Tether, a leading stablecoin company, has a market capitalization of around $119 billion.
As reported by U.TodayXRP is one of the best performing cryptocurrencies for 24 hours.
The cryptocurrency is showing impressive strength even though the US Securities and Exchange Commission is expected to appeal its July 2023 ruling, which recognized secondary XRP sales as non-securities.
The upcoming stablecoin launch is expected to be another catalyst for the XRP token.
Previously, Monica Long, president of Ripple, spilled the secret about the launch of the XRP token this year.
